Essential Properties Realty Trust, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $161.9 million for the three months ended June 30, 2026, a 17.0% increase from $137.1 million in the same period last year. The company's rental revenue rose by $22.0 million to $151.1 million, driven by a 14% increase in its real estate investment portfolio, which expanded to 2,493 properties. Net income attributable to stockholders also saw a notable increase, rising to $74.3 million, or $0.34 per share, compared to $63.2 million, or $0.32 per share, in the prior year.
In terms of operational metrics, the company reported a 99.6% occupancy rate across its portfolio, with annualized base rent totaling $604.9 million. The weighted average remaining lease term was 14.3 years, with only 2.3% of annualized base rent attributable to leases expiring before January 1, 2029. The company’s strategic focus on service-oriented and experience-based businesses has resulted in a diversified tenant base, with no single tenant contributing more than 3.1% of total annualized base rent.
The company also made significant investments during the first half of 2026, totaling $684 million, which included acquisitions and capital expenditures. This investment activity was partially funded through a combination of cash from operations, equity offerings, and borrowings under its revolving credit facility. As of June 30, 2026, Essential Properties had $126.2 million in cash and cash equivalents, a substantial increase from $20.8 million a year earlier, reflecting its strong cash flow generation capabilities.
Looking ahead, Essential Properties Realty Trust remains optimistic about its growth trajectory. The company has committed to funding an additional $121.8 million for tenant reimbursements related to development and construction costs, which it expects to fulfill by June 30, 2027. Furthermore, the company is under contract to acquire seven properties for a total of $31.8 million, indicating a continued focus on expanding its portfolio. The management team is confident that its disciplined investment strategy and strong operational performance will sustain its growth and enhance shareholder value in the coming quarters.
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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