Essential Properties Realty Trust reported strong Q3 2025 results, achieving $370 million in investments and increasing its AFFO per share by 12%, reflecting robust portfolio performance and effective capital deployment.
- Investments totaled $370 million, with 70% from new operators, achieving a weighted average initial cash yield of 8% and a strong GAAP yield of 10%.
- Same-store rent growth of 1.6% and overall rent coverage increased to 3.6x, exceeding budgeted expectations.
- Liquidity stands at $1.4 billion, supported by an unsecured bond issuance, positioning the company for continued growth.
- Increased AFFO per share guidance for 2025 to $1.87-$1.89 and established 2026 guidance of $1.98-$2.04, indicating 6%-8% growth.
- Diversification improved with top tenants accounting for only 16.9% of ABR, enhancing risk management.
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