EPRT Essential Properties Realty Trust (EPRT) Q3 FY26 earnings call
Essential Properties Realty Trust delivered strong Q3 FY26 results, raising full-year AFFO per share and investment volume guidance, and providing initial 2027 guidance. The company is navigating volatile capital markets with a disciplined investment approach, prioritizing transactions with meaningful spreads to its cost of capital, and leveraging its strong balance sheet and liquidity to fund future growth while maintaining a low leverage profile. Management anticipates a slower pace of deployment in the near term as asset pricing adjusts to capital market movements.
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EPRT operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | This call Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Properties | 2,417We ended the quarter with investments in 2,417 properties that were leased to over 400 tenants.Source: earnings call transcript | 2,493We ended the quarter with investments in 2,493 properties that were leased to over 500 tenants.Source: earnings call transcript | 2,580We ended the quarter with investments in 2,580 properties that were leased to tenants operating over 700 concepts.Source: earnings call transcript | +3.5% |
| Occupancy rate | 99.7%Overall, our portfolio credit trends remain healthy with same-store rent growth in the first quarter of 1.4% and occupancy of 99.7% and just 7 vacant properties.Source: earnings call transcript | 99.6%Our occupancy remains strong at 99.6% with only 9 vacant properties.Source: earnings call transcript | 99.6%Our portfolio continued to deliver solid and consistent performance this quarter with same-store rent growth of 1.4%, healthy rent coverage of 3.5x and occupancy of 99.6% and a reduction in our tenant credit watch list.Source: earnings call transcript | 0 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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