8-K
ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT)
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
June 9, 2023
Date of Report (Date of earliest event reported)
Essential Properties Realty Trust, Inc.
(Exact name of registrant as specified in its charter)
| Maryland | 001-38530 | 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 Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
|---|---|---|
| Common stock, $0.01 par value | EPRT | New 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 8.01. Other Events.
On June 9, 2023, the Board of Directors of Essential Properties Realty Trust, Inc. declared a quarterly cash dividend of $0.28 per share of common stock for the second quarter of 2023. The second quarter 2023 dividend represents an annualized dividend of $1.12 per share of common stock. The dividend is payable on July 14, 2023 to stockholders of record as of the close of business on June 30, 2023. A copy of the related press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 — Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release dated June 12, 2023 |
| 104 | Cover 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: June 12, 2023 | ESSENTIAL PROPERTIES REALTY TRUST, INC. | |
|---|---|---|
| By: | /s/ Mark E. Patten | |
| Mark E. Patten | ||
| Executive Vice President, Chief Financial Officer, Treasurer and Secretary |
Document
Exhibit 99.1
Essential Properties Realty Trust, Inc. Increases Quarterly Dividend to $0.28 per Share, a 1.8% Increase Over Prior Quarter
June 12, 2023
PRINCETON, N.J.—(BUSINESS WIRE)— Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that its Board of Directors declared a quarterly cash dividend of $0.28 per share of common stock for the second quarter of 2023. On an annualized basis, this dividend of $1.12 per share of common stock represents an increase of $0.02 per share over the previous annualized dividend. The dividend is payable on July 14, 2023, to stockholders of record as of the close of business on June 30, 2023.
About Essential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of March 31, 2023, the Company’s portfolio consisted of 1,688 freestanding net lease properties with a weighted average lease term of 13.9 years and a weighted average rent coverage ratio of 3.9x. In addition, as of March 31, 2023, the Company’s portfolio was 99.8% leased to 348 tenants operating 556 different concepts in 16 industries across 48 states.
Investor/Media:
Essential Properties Realty Trust, Inc.
Mark Patten
Executive Vice President, Chief Financial Officer, Treasurer and Secretary
609-436-0613
info@essentialproperties.com
Source: Essential Properties Realty Trust, Inc.