Essential Properties Realty Trust Files 8-K for Disclosure & Exhibits

Ticker: EPRT · Form: 8-K · Filed: 2024-01-31T00:00:00.000Z

Sentiment: neutral

Topics: compliance, regulation-fd, exhibits, corporate-governance

TL;DR

**EPRT filed a routine 8-K for disclosure and exhibits, showing standard compliance.**

AI Summary

Essential Properties Realty Trust, Inc. filed an 8-K on January 31, 2024, primarily for Regulation FD Disclosure and to include financial statements and exhibits. This filing indicates that the company is adhering to its disclosure obligations, ensuring that any material non-public information is made public. For investors, this matters because it signals transparency and compliance, which can build trust and confidence in the company's governance, potentially supporting stock stability.

Why It Matters

This filing ensures that all investors have access to the same material information, promoting a fair market and reducing information asymmetry. It's a routine compliance filing that reinforces the company's commitment to transparency.

Risk Assessment

Risk Level: low — This 8-K is a routine compliance filing for Regulation FD Disclosure and exhibits, indicating no immediate new risks or significant events.

Analyst Insight

A smart investor would view this as a routine compliance update, confirming the company's adherence to SEC regulations. No immediate action is suggested by this specific filing, but it reinforces the company's transparency.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this 8-K filing by Essential Properties Realty Trust, Inc.?

The primary purpose of this 8-K filing, dated January 31, 2024, is for Regulation FD Disclosure and to include Financial Statements and Exhibits, as indicated in the 'ITEM INFORMATION' section.

What is the state of incorporation for Essential Properties Realty Trust, Inc.?

Essential Properties Realty Trust, Inc. is incorporated in Maryland, as stated under 'State or other jurisdiction of incorporation' in the filing.

What is the trading symbol and the exchange where Essential Properties Realty Trust, Inc.'s common stock is registered?

The trading symbol for Essential Properties Realty Trust, Inc.'s common stock is EPRT, and it is registered on the New York Stock Exchange, as detailed under 'Securities registered pursuant to Section 12(b) of the Act'.

What is the business address and phone number of Essential Properties Realty Trust, Inc.?

The business address is 902 Carnegie Center Blvd., Suite 520, Princeton, New Jersey 08540, and the telephone number is (609) 436-0619, according to the filing's header and business address section.

Is Essential Properties Realty Trust, Inc. classified as an emerging growth company?

No, the filing indicates with a '☐' (unchecked box) next to 'Emerging growth company' that the registrant is not an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Filing Stats: 797 words · 3 min read · ~3 pages · Grade level 10 · Accepted 2024-01-31 06:43:31

Key Financial Figures

Filing Documents

01 — Regulation FD Disclosure

Item 7.01 — Regulation FD Disclosure. On January 31, 2024, Essential Properties Realty Trust, Inc. provided an update on fourth quarter 2023 business activities, as outlined below, that it intends to use from time to time in meetings with investors. Additionally, the Company announced that its total pipeline of potential investments under purchase and sale agreement or letter of intent was $265 million, with an estimated cash yield of 8.1%. Potential acquisitions are subject to customary closing conditions, including the completion of due diligence, and, in the case of properties subject to letters of intent, negotiation of definitive purchase and sale agreements, and there can be no assurance that these acquisitions and dispositions will be completed on the terms described above or at all. Investment Activity 4Q'23 Full Year 2023 Investment Volume $314.9 million $1.0 billion Number of Transactions 43 126 Property Count 93 293 Average Investment per Unit $3.0 million $3.1 million Weighted Average Cash Cap Rate 7.9% 7.6% Weighted Average GAAP Cap Rate 9.1% 8.9% Weighted Average Lease Escalation 1.9% 1.9% % Subject to Master Lease 72% 68% % Sale-leaseback Transactions 97% 99% % Existing Relationship 96% 85% % Required Financial Reporting (Tenant/Guarantor) 100% 100% Rent Coverage Ratio 3.3x 3.5x Weighted Average Lease Term 17.6 years 18.3 years Disposition Activity 4Q'23 Full Year 2023 Net Proceeds $30.6 million $138.0 million Number of Properties Sold 9 52 Weighted Average Cash Cap Rate (excluding vacant properties and sales subject to a tenant purchase option) 6.6% 6.3% Capital Markets Activity — Forward Equity 4Q'23 Forward ATM Sales during Quarter 1,937,450 Weighted Average Price per Share — Net $24.19 Expected Net Proceeds $46.9 million Forward Shares Unsettled as of December 31, 2023 (1) 5,778,363 Weighted Average Price per Share — Net $22.60 Value of Unsettled Forward Equity $130.6 million ____

01 — Financial Statements and Exhibits

Item 9.01 — Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being filed herewith: Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 31, 2024 ESSENTIAL PROPERTIES REALTY TRUST, INC. By: /s/ Mark E. Patten Mark E. Patten Executive Vice President, Chief Financial Officer, Treasurer and Secretary

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