Essential Properties Realty Trust's third quarter 2026 AFFO grew 6% as 2026 guidance raised

Essential Properties Realty Trust (EPRT) delivered a solid third quarter 2026, characterized by continued investment momentum and high portfolio stability. The company reported Total Revenues of $168.7 million and AFFO per share of $0.51, representing a 6% increase over the same period in 2025. Management demonstrated confidence in current execution by raising the lower end of full-year 2026 AFFO guidance and providing an initial 2027 AFFO target.

Key Highlights

• Strong Investment Volume: Closed $342.2 million in new investments across 100 properties at a weighted average cash cap rate of 7.7% and a GAAP cap rate of 9.4%.
• Guidance Increase: Raised 2026 AFFO per share guidance to a range of $2.02 to $2.05 (up from $2.01 to $2.05) and increased the 2026 investment volume floor by $100 million to $1.3 billion.
• Portfolio Resiliency: Maintained a high occupancy rate of 99.6% with a weighted average lease term (WALT) of 14.2 years and a healthy unit-level rent coverage ratio of 3.5x.
• Balance Sheet Strength: Ended the quarter with pro forma Net Debt to Annualized Adjusted EBITDAre of 3.8x and $1.3 billion in pro forma available liquidity.