NYSE$EPRT
Essential Properties Realty Trust Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Announced first quarter 2023 results, featuring net income per share of $0.29 and AFFO per share of $0.40.
Essential Properties Realty Trust reported a strong first quarter in 2023, marked by $207.1 million in investments at a 7.6% weighted average cash cap rate. Occupancy remained high at 99.8%, and the company is refining its 2023 AFFO per share guidance to $1.60 to $1.64.
- Invested $207.1 million in 57 properties with a 7.6% weighted average cash cap rate.
- Disposed of 17 properties, generating $37.2 million in net proceeds with a 6.1% weighted average cash cap rate.
- Maintained a strong portfolio with 99.8% occupancy and a 3.9x weighted average rent coverage ratio.
- Refined 2023 AFFO per share guidance range to $1.60 to $1.64.
Headline financials
Revenue & EPS history
Essential Properties · Revenue · Quarterly
$83.7M
Revenue by segment
Essential Properties · $83.7M total across 3 segments · Q1 2023
- Rental Revenue$78.2M+18.2%93.4%
- Interest on Loans and Direct Financing Lease Receivables$4.45M+16.3%5.3%
- Other Revenue$1.07M+471.7%1.3%
Forward guidance
The company is updating its range for expected 2023 AFFO per share on a fully diluted basis to $1.60 to $1.64 from its previously announced range of $1.58 to 1.64.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.8%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+2.4%
Avg return
30 days after
69%
22 / 32 earnings
Positive
+7.0%
Q4 2019
Best reaction
-9.2%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | -2.3% | -2.4% | |
| Q4 2025 | +0.3% | +3.6% | +4.4% | |
| Q3 2025 | +1.3% | -2.5% | +0.3% | |
| Q2 2025 | +0.3% | +2.5% | -1.6% | |
| Q1 2025 | -1.8% | -0.5% | -0.7% | |
| Q4 2024 | +1.4% | +3.3% | +3.3% | |
| Q3 2024 | -1.4% | -3.9% | -1.0% | |
| Q2 2024 | -3.3% | -2.6% | +2.1% | |
| Q1 2024 | -2.1% | +0.1% | +2.5% | |
| Q4 2023 | +1.4% | +2.0% | +4.8% | |
| Q3 2023 | +2.4% | +1.9% | +13.3% | |
| Q2 2023 | -3.7% | -5.0% | -8.6% | |
| Q1 2023 | +3.2% | +2.7% | -0.3% | |
| Q4 2022 | +3.0% | +4.9% | -1.5% | |
| Q3 2022 | +4.4% | +6.0% | +12.4% | |
| Q2 2022 | +2.6% | +2.8% | -1.0% | |
| Q1 2022 | +1.6% | -6.6% | -7.8% | |
| Q4 2021 | +1.9% | +1.1% | +2.3% | |
| Q3 2021 | +2.7% | +1.2% | -11.1% | |
| Q2 2021 | +2.1% | +1.1% | +9.2% | |
| Q1 2021 | -1.0% | -1.0% | +1.3% | |
| Q4 2020 | +2.9% | -1.5% | -1.6% | |
| Q3 2020 | -2.3% | +6.0% | +25.7% | |
| Q2 2020 | +5.1% | +9.7% | +12.8% | |
| Q1 2020 | -9.2% | -11.9% | +32.7% | |
| Q4 2019 | +7.0% | +5.4% | -52.7% | |
| Q3 2019 | +1.8% | +6.0% | +3.8% | |
| Q2 2019 | +1.5% | +3.6% | +8.7% | |
| Q1 2019 | -0.6% | -1.9% | +2.5% | |
| Q4 2018 | +1.0% | -1.4% | +16.2% | |
| Q3 2018 | +4.5% | +4.2% | +5.6% | |
| Q2 2018 | +1.4% | +1.2% | +3.9% | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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