AI Earnings Predictions for Essential Properties Realty Trust Inc. (EPRT)

EX-99.1

2 earningsreleaseex991-worki.htm

EX-99.1

Document

Exhibit 99.1

Essential Properties Announces First Quarter 2026 Results

- First Quarter Net Income per Share of $0.28 and AFFO per Share of $0.50 -

- Closed Investments of $388.6 million at a 7.7% Weighted Average Cash Cap Rate -

- Increases 2026 AFFO Guidance to $2.00 to $2.05 per Share -

- Increases 2026 Investment Guidance to $1.1 billion to $1.5 billion -

April 22, 2026

PRINCETON, N.J.--(BUSINESS WIRE)--Essential Properties Realty Trust, Inc. (NYSE: EPRT; “Essential Properties” or the “Company”) today announced operating results for the three months ended March 31, 2026.

First Quarter 2026 Financial and Operating Highlights:

Operating Results (compared to First Quarter 2025):

•Investments (126 properties) $ Invested $388.6 million

Weighted Avg Cash Cap Rate 7.7%

•Dispositions (6 properties) Net Proceeds $10.2 million

Weighted Avg Cash Cap Rate 6.9%

•Net Income per Share

Decreased by 3% $0.28

•Funds from Operations (“FFO”) per Share (1)

Increased by 13% $0.54

•Core Funds from Operations (“Core FFO”) per Share (1)

Increased by 13% $0.54

•Adjusted Funds from Operations (“AFFO”) per Share (1)

Increased by 11% $0.50

Debt, Equity & Leverage:

•Equity Raised (Gross) - Follow-On Offering (February 19, 2026) (2) $32.20/share$402.5 million

•Equity Raised (Gross) - ATM Program (2)

$31.83/share

$16.7 million

•Pro Forma Net Debt to Annualized Adjusted EBITDAre (1) As of Quarter End3.5x

1.See page 8 for reconciliations of non-GAAP financial measures to corresponding GAAP metrics.

2.All shares were sold on a forward basis and a total of 17,695,008 shares remain unsettled as of March 31, 2026 for estimated net proceeds of $540.6 million, assuming full physical settlement.

Activity Subsequent to First Quarter 2026:

•Investments $ Invested $11.4 million

•Dispositions $ Gross Proceeds $20.8 million

CEO Comments

Commenting on the first quarter 2026 results, the Company's Chief Executive Officer, Pete Mavoides, said, “Our team continued to execute in the first quarter, starting off the year with strong investment activity which complemented our capital raising efforts. Though the macroeconomic backdrop remains dynamic, the building momentum in our business allowed us to increase guidance for 2026, suggesting another year of compelling earnings growth.”

1

Portfolio Highlights

The Company’s investment portfolio as of March 31, 2026 is summarized as follows:

March 31, 2026

Number of properties 2,417

Weighted average lease term (WALT) 14.6 years

Weighted average rent coverage ratio 3.5x

Top 10 tenant concentration (% of cash ABR) 15.8%

Top 20 tenant concentration (% of cash ABR) 26.0%

Weighted average occupancy (7 vacant properties) 99.7%

Total square feet of rentable space 27.3 million

Service-oriented or experience-based (% of cash ABR)

91.6%

Properties subject to master lease (% of cash ABR) 65.3%

Portfolio Update

Investments

During the three months ended March 31, 2026, the Company's $388.6 million of investment activity had a weighted average closing date of February 10, 2026. Additional details about the Company’s investment activity during the three months ended March 31, 2026 are summarized as follows:

Quarter Ended

March 31, 2026

Investments:

Investment volume $388.6 million

Number of transactions 22

Property count 126

Weighted average cash / GAAP cap rate 7.7%/8.8%

Weighted average lease escalation 2.1%

% Subject to master lease 49%

% Sale-leaseback transactions 100%

% Existing relationship 57%

% Required financial reporting (tenant/guarantor) 100%

WALT

17.7 years

Dispositions

The Company’s disposition activity during the three months ended March 31, 2026 is summarized as follows:

Quarter Ended March 31, 2026

Dispositions:

Net proceeds $10.2 million

Number of properties sold 6

Net gain / (loss) $5.3 million

Weighted average cash cap rate (excluding vacant properties and sales subject to a tenant purchase option) 6.9%

2

Loan Repayments

Loan repayments received by the Company during the three months ended March 31, 2026 are summarized as follows:

Quarter Ended March 31, 2026

Loan Repayments:

Proceeds—Principal

$6.2 million

Number of properties3

Weighted average interest rate 9.2%

Leverage and Liquidity

The Company's leverage and liquidity as of March 31, 2026 are summarized in the following table.

March 31, 2026

Pro Forma (1) March 31, 2026

Leverage:

Net debt to Annualized Adjusted EBITDAre

4.4x

3.5x

Liquidity:

Cash and cash equivalents and restricted cash $16.2 million

$456.8 million

Unused revolving credit facility capacity $900.0 million

$1.0 billion

Forward equity sales - unsettled

$540.6 million

—

Total available liquidity $1.5 billion

$1.5 billion

ATM Program:

October 2024 ATM Program initial availability$750.0 million

Aggregate gross sales under the October 2024 ATM Program $419.3 million

Availability remaining under the October 2024 ATM Program $330.7 milli

eprt-20260211false000172895100017289512026-02-112026-02-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

February 11, 2026 Date of Report (Date of earliest event reported)

Essential Properties Realty Trust, Inc. (Exact name of registrant as specified in its charter)

Maryland001-38530 82-4005693 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

5 Vaughn Drive, Suite 202

Princeton, New Jersey 08540 (Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:(609) 436-0619

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act 17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered Common stock, $0.01 par valueEPRTNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 2.02 — Results of Operations and Financial Condition. On February 11, 2026, Essential Properties Realty Trust, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the three months and year ended December 31, 2025. The press release is furnished hereto as Exhibit 99.1 and incorporated herein by reference.

Item 7.01— Regulation FD Disclosure. On February 11, 2026, the Company issued its Investor Presentation and Supplemental Information—Fourth Quarter 2025. The Investor Presentation and Supplemental Information—Fourth Quarter 2025 is furnished hereto as Exhibit 99.2 and incorporated herein by reference. The foregoing information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition,” and Item 7.01, “Regulation FD Disclosure.” The information in Items 2.02 and 7.01 of this Current Report on Form 8-K and the exhibits furnished therewith shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, and shall not be or be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.

Item 9.01 — Financial Statements and Exhibits. (d) Exhibits.

Exhibit No.Description 99.1 Earnings Press Release dated February 11, 2026 for the three months and year ended December 31, 2025

99.2 Investor Presentation and Supplemental Information—Fourth Quarter 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 11, 2026

ESSENTIAL PROPERTIES REALTY TRUST, INC.

By:/s/ Robert W. Salisbury Robert W. Salisbury Executive Vice President, Chief Financial Officer and Secretary

eprt-20251022false000172895100017289512025-10-222025-10-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

October 22, 2025 Date of Report (Date of earliest event reported)

Essential Properties Realty Trust, Inc. (Exact name of registrant as specified in its charter)

Maryland001-38530 82-4005693 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

902 Carnegie Center Blvd., Suite 520

Princeton, New Jersey 08540 (Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:(609) 436-0619

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act 17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered Common stock, $0.01 par valueEPRTNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 2.02 — Results of Operations and Financial Condition. On October 22, 2025, Essential Properties Realty Trust, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the three and nine months ended September 30, 2025. The press release is furnished hereto as Exhibit 99.1 and incorporated herein by reference.

Item 7.01— Regulation FD Disclosure. On October 22, 2025, the Company issued its Investor Presentation and Supplemental Information—Third Quarter 2025. The Investor Presentation and Supplemental Information—Third Quarter 2025 is furnished hereto as Exhibit 99.2 and incorporated herein by reference. The foregoing information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition,” and Item 7.01, “Regulation FD Disclosure.” The information in Items 2.02 and 7.01 of this Current Report on Form 8-K and the exhibits furnished therewith shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, and shall not be or be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.

Item 9.01 — Financial Statements and Exhibits. (d) Exhibits.

Exhibit No.Description 99.1 Earnings Press Release dated October 22, 2025 for the three and nine months ended September 30, 2025

99.2 Investor Presentation and Supplemental Information—Third Quarter 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 22, 2025

ESSENTIAL PROPERTIES REALTY TRUST, INC.

By:/s/ Mark E. Patten Mark E. Patten Executive Vice President, Chief Financial Officer, Treasurer and Corporate Secretary