Essential Properties Realty Trust Reports 25.4% Revenue Growth to $137.1 Million

Essential Properties Realty Trust, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $137.1 million for the three months ended June 30, 2025, a 25.4% increase from $109.3 million in the same period last year. The growth was primarily driven by a 23.7% rise in rental revenue, which amounted to $129.1 million, up from $104.4 million. Additionally, interest income from loans and direct financing lease receivables surged by 55.9% to $7.6 million, reflecting an expanding mortgage loan portfolio. The company’s net income for the quarter was $63.4 million, compared to $51.7 million in the prior year, translating to a basic net income per share of $0.32, consistent with the previous quarter.

In terms of operational metrics, Essential Properties Realty Trust's real estate investment portfolio expanded to 2,190 properties, an increase of 86 properties since December 31, 2024. The total gross investment value of the portfolio rose to $6.6 billion, with net investments reported at $6.1 billion. The company maintained a high occupancy rate of 99.6%, with annualized base rent totaling $507.8 million. The weighted average remaining lease term across the portfolio was 14.3 years, with only 4.9% of annualized base rent attributable to leases expiring before January 1, 2030.

The company also made strategic moves in its financing activities, including the establishment of a $1 billion revolving credit facility and the issuance of $400 million in senior unsecured notes. As of June 30, 2025, total liabilities stood at $2.5 billion, with stockholders' equity increasing to $3.8 billion from $3.6 billion at the end of 2024. The company declared dividends totaling $59.8 million during the first half of 2025, reflecting its commitment to returning value to shareholders.

Looking ahead, Essential Properties Realty Trust expressed optimism about its growth trajectory, emphasizing its focus on acquiring properties leased to middle-market companies in service-oriented sectors. The company plans to continue leveraging its strong relationships with tenants to facilitate future investments and maintain a diversified portfolio. The management team remains committed to maximizing stockholder value through disciplined underwriting and active asset management, with expectations of further portfolio expansion and enhanced financial performance in the coming quarters.