Essential Properties Announces First Quarter 2020 Results
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Essential Properties Realty Trust (EPRT) Misses Q1 EPS by 2c, Revenues Miss
May 11, 2020 6:12 AM EDTEssential Properties Realty Trust (NYSE: EPRT) reported Q1 EPS of $0.15, $0.02 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $41.49 million versus the consensus estimate of $42.01 million.
First Quarter 2020 Financial and Operating Highlights
Ended the quarter with a 99.5% leased portfolio with a weighted average lease term (WALT) of 14.6 years and a weighted average rent coverage ratio of 2.9xReduced top 10 tenant concentration to 23.1%, a 30 bps sequential declineInvested $167.5 million in 63 properties at a 7.1% weighted average cash cap rateNet income... More