EPRT · Essential Properties Realty Trust, Inc.
Market Cap
$6.57B
Shares
216.27M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$30.37
Open$30.56
Day$30.30–30.58
52W close$29.20–34.59
Avg vol 30d1.6M
Short int18.9M · 8.7% float · 16.1d
Short vol61%
Last earningsJul 23, 2026
DataJan 2020–Aug 2026
Filing10-Q · Jul 22
Up next
Next earnings call
Oct 22, 2026
Est · unconfirmed
· in 8 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Jul 22, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Sell
Momentum
Weak
Sentiment
Bearish
Fundamentals
Strong
Quant / Vol
Very Low
Market backdrop
VIX 14.4 · calm
Equity put/call 0.62
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−3%
below
Price vs 50-day avg
−2%
below
RSI (14)
40
neutral
MACD trend
Negative
52-week position
22%
mid-range
Momentum
relative strength
1-month return
−3%
trailing
6-month return
−11%
trailing
YTD return
+2%
this year
Relative strength
−25%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $31 › 200d $31 — 200d above 50d
Institutional flow
Distributing
-1% holders QoQ · +48 funds added
Insider flow
Distributing
Net -$708.8K over 90 days · 100% sells
Short interest
Rising
8.73% of float · ▲ +5.3% MoM · 16.1 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
377 holders — near 3-yr high, broad support
Squeeze score
72
high risk · 0–100
Fundamentals
Revenue growth
+25%
Y/Y
EPS growth
+11%
Y/Y
Valuation
P/E 23.5
in line
Balance sheet
$2.5B
net debt
Quant / Vol
risk profile
Volatility
19%
annualized · 1-yr
Max drawdown
−15%
past year
ATR
1.6%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Jul 22, 2026
AFFO per share
· Full Year 2026
Non-GAAP
Raised
$2.01 – $2.05
Mar 31, 2026
$2.00 – $2.05
changed to
Jul 22, 2026
$2.01 – $2.05
Investment volume
· Full Year 2026
Raised
$1.2B – $1.5B
Mar 31, 2026
$1.1B – $1.5B
changed to
Jul 22, 2026
$1.2B – $1.5B
Prior guidance
period ended
· from the 8-K filed Oct 22, 2025
AFFO per share
· 2025
$1.87 – $1.89
Investment volume
· 2025
$1.2B – $1.4B
Cash G&A expense
· 2025
$28M – $31M
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−3%
Neutral
Price vs 50-day avg
−2%
Neutral
RSI (14)
40
Neutral
MACD trend
Negative
Bearish
52-week position
22%
Neutral
Market signals — smart money & positioning
Bearish · 3 of 6
Trend (MA cross)
No cross
50d $31 › 200d $31 — 200d above 50d
Institutional flow
Distributing
-1% holders QoQ · +48 funds added
Insider flow
Distributing
Net -$708.8K over 90 days · 100% sells
Short interest
Rising
8.73% of float · ▲ +5.3% MoM · 16.1 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
377 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $29
Now $30 · 22%
Range high $35
vs 200-day avg -3%
vs 50-day avg -2%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted Cash NOI non-GAAP | 150.71M | Three Months Ended June 30, 2026 | — |
|
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GAAP → non-GAAP reconciliationGAAP Adjusted NOI $167.93M
-$18.17M Straight-line rental revenue, net
+$946K Other amortization expense
= Adjusted Cash NOI $150.71M
|
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| Adjusted EBITDAre - Current Estimated Run Rate non-GAAP | 156.82M | Three Months Ended June 30, 2026 | — |
|
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GAAP → non-GAAP reconciliationGAAP EBITDAre $147.65M
+$5.62M Adjustment for current quarter re-leasing, acquisition and disposition activity
+$4.41M Adjustment for other non-core or non-recurring activity
-$856K Adjustment to exclude termination/prepayment fees and certain percentage rent
= Adjusted EBITDAre - Current Estimated Run Rate $156.82M
|
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| Adjusted Funds from Operations non-GAAP | 110.12M | Three Months Ended June 30, 2026 | — |
|
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GAAP → non-GAAP reconciliationGAAP Core Funds from Operations $116.68M
-$15.13M Straight-line rental revenue, net
+$1.45M Non-cash interest
+$3.46M Non-cash compensation expense
+$946K Other amortization expense
+$2.64M Change in provision for credit losses
+$625K Other non-cash adjustments
-$550K Capitalized interest expense
= Adjusted Funds from Operations $110.12M
|
|||
| Adjusted Funds from Operations per share (Diluted) non-GAAP | $0.5 | 2Q'26 | — |
|
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| Adjusted net operating income non-GAAP | 167.93M | Three Months Ended June 30, 2026 | — |
|
|
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| Annualized Adjusted Cash NOI non-GAAP | 602.83M | Three Months Ended June 30, 2026 | — |
|
|
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| Annualized Adjusted EBITDAre non-GAAP | 627.28M | Three Months Ended June 30, 2026 | — |
|
|
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| Annualized Adjusted NOI non-GAAP | 671.74M | Three Months Ended June 30, 2026 | — |
|
|
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| Annualized EBITDAre non-GAAP | 590.58M | Three Months Ended June 30, 2026 | — |
|
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| Availability remaining under the October 2024 ATM Program | $294.1M | As of June 30, 2026 | — |
| Core FFO per share (YTD) non-GAAP | $1.07 | Year to Date June 30, 2026 | — |
| Core Funds from Operations non-GAAP | 116.68M | Three Months Ended June 30, 2026 | — |
|
|
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GAAP → non-GAAP reconciliationGAAP Funds from Operations $116.95M
-$266K Non-core (income) expense, net
= Core Funds from Operations $116.68M
|
|||
| Core Funds from Operations per share (Diluted) non-GAAP | $0.53 | 2Q'26 | — |
| Corporate-Level Financial Reporting | 98.7% | 2Q'26 | — |
| EBITDAre non-GAAP | 147.65M | Three Months Ended June 30, 2026 | — |
|
|
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GAAP → non-GAAP reconciliationGAAP EBITDA $150.94M
+$1.37M Provision for impairment of real estate
-$4.65M Gain on dispositions of real estate, net
= EBITDAre $147.65M
|
|||
| FFO per share (YTD) non-GAAP | $1.07 | Year to Date June 30, 2026 | — |
| Forward equity sales - unsettled | $574.7M | As of June 30, 2026 | — |
| Funds from Operations non-GAAP | 116.95M | Three Months Ended June 30, 2026 | — |
|
|
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GAAP → non-GAAP reconciliationGAAP Net income $74.48M
+$45.76M Depreciation and amortization of real estate
+$1.37M Provision for impairment of real estate
-$4.65M Gain on dispositions of real estate, net
= Funds from Operations $116.95M
|
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| Funds from Operations per share (Diluted) non-GAAP | $0.53 | 2Q'26 | — |
| Green Leases | 94% | 2Q'26 | — |
| Investment volume (Year to Date June 30, 2026) | $721.1M | Year to Date June 30, 2026 | — |
| Investments | $332.4M | Quarter Ended June 30, 2026 | — |
| Net Proceeds (Dispositions YTD) | $64.4M | Year to Date June 30, 2026 | — |
| Net Proceeds (Dispositions) | $54.3M | Quarter Ended June 30, 2026 | — |
| No Financial Information | 0.1% | 2Q'26 | — |
| Number of properties | 2,493 | As of June 30, 2026 | — |
| Number of transactions | 36 | Quarter Ended June 30, 2026 | — |
|
|
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| Number of transactions (YTD) | 58 | Year to Date June 30, 2026 | — |
| Properties subject to master lease (% of cash ABR) | 64.6% | As of June 30, 2026 | — |
| Same-Store Portfolio Performance | 2,050 | 2Q'26 | — |
| Same-Store Rent Growth | 1.5% | 2Q'26 | — |
| Service-oriented or experience-based (% of cash ABR) | 91.6% | As of June 30, 2026 | — |
| Top 10 tenant concentration (% of cash ABR) | 15.2% | As of June 30, 2026 | — |
| Top 20 tenant concentration (% of cash ABR) | 25.4% | As of June 30, 2026 | — |
| Total available liquidity | $1.7B | As of June 30, 2026 | — |
| Total Liquidity | $1.71B | 2Q'26 | — |
| Total Properties | 2,483 | 2Q'26 | — |
| Total square feet of rentable space | 28.5M | As of June 30, 2026 | — |
| Unit-Level Financial Information Reporting | 99.2% | 2Q'26 | — |
| Weighted average cash / GAAP cap rate (Cash, Q2) | 7.8% | Quarter Ended June 30, 2026 | — |
| Weighted average cash / GAAP cap rate (Cash, YTD) | 7.7% | Year to Date June 30, 2026 | — |
| Weighted average GAAP cap rate (Q2) | 9.1% | Quarter Ended June 30, 2026 | — |
| Weighted average GAAP cap rate (YTD) | 8.9% | Year to Date June 30, 2026 | — |
| Weighted Average Interest Rate | 4.37% | 2Q'26 | — |
| Weighted average lease term (WALT) | 14.3 | As of June 30, 2026 | — |
| Weighted average occupancy (9 vacant properties) | 99.6% | As of June 30, 2026 | — |
| Weighted Avg Cash Cap Rate | 7.8% | Quarter Ended June 30, 2026 | — |
| Weighted Avg Cash Cap Rate (YTD) | 7.7% | Year to Date June 30, 2026 | — |
| ABR expiring through 2028 | 2.8% | As of March 31, 2026 | — |
| Annualized retained free cash flow non-GAAP | $160M | As of March 31, 2026 | — |
| Cash yield on dispositions | 6.9% | 1Q'26 | — |
| Closed dispositions | $10M | 1Q'26 | — |
| Closed investments | $389M | 1Q'26 | — |
| Common equity raised | $419M | 1Q'26 | — |
| Conservative payout ratio | 62% | As of March 31, 2026 | — |
| Core FFO per share - Diluted non-GAAP | $0.54 | Three months ended March 31, 2026 | — |
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| EBITDA non-GAAP | 132.84M | Three months ended March 31, 2026 | — |
|
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| FFO per share - Diluted non-GAAP | $0.54 | Three months ended March 31, 2026 | — |
|
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| Gross Debt / Undepreciated Gross Assets non-GAAP | 33.7% | March 31, 2026 | — |
| Initial cash yield | 7.7% | 1Q'26 | — |
| Net debt non-GAAP | 2.61B | March 31, 2026 | — |
| Net Debt / TEV non-GAAP | 28.4% | March 31, 2026 | — |
| Pro Forma Gross Debt / Undepreciated Gross Assets non-GAAP | 31.5% | March 31, 2026 | — |
| Pro forma liquidity non-GAAP | $1.5B | 1Q'26 | — |
|
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| Pro forma net debt non-GAAP | 2.07B | March 31, 2026 | — |
| Pro Forma Net Debt / Pro Forma TEV non-GAAP | 22.6% | March 31, 2026 | — |
| Pro forma TEV non-GAAP | 9.19B | March 31, 2026 | — |
| Property Count | 126 | 1Q'26 | — |
| Repeat business | 57% | 1Q'26 | — |
|
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| Same-store rent growth (4-quarter average) | 1.5% | 1Q'26 | — |
| Service-oriented and experience-based (% of cash ABR) | 92% | As of March 31, 2026 | — |
| Settled forward common equity | $193M | 1Q'26 | — |
| Total enterprise value ("TEV") non-GAAP | 9.2B | March 31, 2026 | — |
| Undepreciated Gross Assets | $7.8B | As of March 31, 2026 | — |
| Unit-Level Financial Reporting (% of Cash ABR) | 99% | As of March 31, 2026 | — |
| Unsettled forward equity | $541M | As of March 31, 2026 | — |
| Weighted Average Debt Maturity | 4 | As of March 31, 2026 | — |
| Weighted average occupancy | 99.7% | March 31, 2026 | — |
| Weighted Average Remaining Lease Term (Years) | 14.6 | As of March 31, 2026 | — |
| ABR Expiring Through 2030 | 5.2% | As of December 31, 2025 | — |
| AFFO per share non-GAAP | $1.9 | Year Ended December 31, 2025 | — |
| ATM Program Common Equity Raised | $170M | 4Q'25 | — |
| Cash and cash equivalents and restricted cash | $70.4M | December 31, 2025 | — |
| Cash G&A non-GAAP | 28.75M | Year ended December 31 | — |
GAAP → non-GAAP reconciliationGAAP General and administrative expense $40.86M
+$2.35M Non-core general and administrative expense
-$14.44M Non-cash compensation expense
-$26K Straight-line rent expense
= Cash G&A $28.75M
|
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| Investment volume | $1.3B | Year Ended December 31, 2025 | — |
| Leasing Recovery Rate | 85.7% | Trailing 12 months ended December 31, 2025 | — |
| Net Proceeds Available from Unsettled Forward Equity | $332M | As of December 31, 2025 | — |
| Payout Ratio | 63% | As of December 31, 2025 | — |
| WALT (investments) | 18.8 | Year Ended December 31, 2025 | — |
| Weighted average cash cap rate (investments) | 7.9% | Year Ended December 31, 2025 | — |
| Weighted average occupancy (6 vacant properties) | 99.7% | December 31, 2025 | — |
| Weighted Avg. Interest Rate | 4.23% | December 31, 2025 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Retail — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
EPRT
this stock
Essential Properties Realty Trust, Inc.
|
$6.57B | +2.4% | +24.8% | 23.5 | 8.7% |
|
SPG
Simon Property Group Inc.
|
$69.60B | +15.9% | +6.7% | 15.2 | 2.7% |
|
O
Realty Income Corp
|
$58.48B | +10.0% | +9.1% | 45.1 | 4.0% |
|
UNBLF
Unibail-Rodamco SE/ADR
|
$16.39B | +10.5% | — | — | 0.0% |
|
KIM
Kimco Realty Corp
|
$15.97B | +17.3% | +5.1% | — | 4.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| EPRT | -1.5% | -2.9% | -11.1% | -2.9% | +2.4% |
| SPY | +0.5% | +3.0% | +13.4% | +3.0% | +12.8% |
| vs SPY | -2.0% | -5.9% | -24.5% | -5.9% | -10.4% |
Capital returns
Latest dividend
$0.32
/ share · ex Jun 30, 2026
Paid (TTM)
$1.24
/ share · 4 payouts
Dividend yield (TTM, derived)
4.08%
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1728951
CUSIP
29670E107
13F (30d)
309 filings
298 filers
Visit website
Investor relations