Essential Properties Realty Trust, Inc. (EPRT) reported significant financial growth for the fiscal year ending December 31, 2025, with total revenues reaching $561.2 million, a 24.8% increase from $449.6 million in 2024. This growth was primarily driven by a substantial rise in rental revenue, which increased by $101.8 million to $527.5 million, attributed to the expansion of the company's real estate investment portfolio. The portfolio grew to 2,300 properties, with an annualized base rent of $555 million, and a high occupancy rate of 99.7%. The company also reported a net income of $253.7 million, up from $203.6 million in the previous year.
In terms of operational developments, EPRT completed $1.3 billion in investments across 270 properties during 2025, including $94.7 million in mortgage loans receivable. The company’s strategic focus on acquiring single-tenant properties leased to middle-market companies in service-oriented sectors has proven effective, with 91.5% of annualized base rent derived from such businesses. The weighted average remaining lease term for the portfolio was 14.4 years, with only 5.2% of annualized base rent attributable to leases expiring before January 1, 2031.
The company also made notable strides in its capital structure, raising $657.6 million through common stock issuances and $390.7 million from senior unsecured notes. As of December 31, 2025, EPRT had total debt of $2.5 billion, with a weighted average interest rate of 4.23%. The company maintained a liquidity position of $1.4 billion, which includes cash and cash equivalents, available credit, and proceeds from unsettled forward equity sales agreements. This robust liquidity supports EPRT's ongoing investment strategy and operational needs.
Looking ahead, EPRT remains optimistic about its growth trajectory, with plans to continue investing in single-tenant properties and expanding its portfolio. The company has committed to funding approximately $388.4 million for tenant reimbursements related to development and construction costs, with expectations to fulfill these commitments by December 31, 2026. EPRT's management believes that its diversified portfolio and strategic focus on essential service-oriented businesses will provide a stable revenue base and enhance stockholder value in the long term.
About ESSENTIAL PROPERTIES REALTY TRUST, INC.
Essential Properties Realty Trust, Inc. is a real estate investment trust focused on acquiring, owning, and managing single-tenant, net-leased commercial properties. Its portfolio emphasizes service-oriented and experience-based businesses across diverse industries and geographies, primarily leased to middle-market companies. The company leverages sale-leaseback structures, long-term leases, and active asset management to generate stable, predictable cash flows and risk-adjusted returns.
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