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Overview
Essential Properties Realty Trust, Inc. is a Real Estate Investment Trust (REIT) that was formed in 2018 and is headquartered in Princeton, New Jersey. The company focuses on single-tenant, net leased commercial properties that are essential to the operations of the tenants. These properties include retail, industrial, and healthcare facilities. Essential Properties Realty Trust has a diverse portfolio of properties located in 42 states across the United States. The companyโs primary investment strategy is to acquire existing properties that are leased to investment-grade or creditworthy tenants who have long-term leases in place. This allows the company to generate stable and predictable cash flows from the properties. Essential Properties Realty Trust also focuses on acquiring properties in high-demand locations with strong demographic trends. Essential Properties Realty Trust is publicly traded on the New York Stock Exchange under the ticker symbol EPRT. The company has a market capitalization of approximately $3.7 billion and is included in the Russell 2000 Index. Leadership and Management Team The President and CEO of Essential Properties Realty Trust is Peter M. Mavoides, who has over 25 years of experience in the real estate industry. He is responsible for setting the strategic direction of the company and overseeing its day-to-day operations. The companyโs Chief Financial Officer is Anthony W. Laporta, who has over 15 years of experience in finance and accounting. He is responsible for the companyโs financial management and strategy. Other key members of the leadership team include: - Gregg Seibert, Executive Vice President and Chief Operating Officer - Aaron Halfacre, Executive Vice President and Chief Investment Officer - Hillary S. Steinberg, Executive Vice President, General Counsel, and Secretary - Daniel Ismail, Senior Vice President, and Chief Accounting Officer Property Portfolio As of June 30, 2021, Essential Properties Realty Trust owned 1,371 properties, with a total gross investment of approximately $4.4 billion. These properties are located in 42 states and leased to 240 tenants in various industries, including convenience stores, dollar stores, automotive service centers, and medical facilities. Some of the companyโs top tenants include Dollar General, Taco Bell, Walgreens, 7-Eleven, and OโReilly Auto Parts. Essential Properties Realty Trustโs portfolio has a weighted average remaining lease term of 14.3 years and a occupancy rate of 99.3%. Financial Performance In the second quarter of 2021, Essential Properties Realty Trust reported total revenues of $57.7 million, an increase of 17% compared to the same period in 2020. Net income for the quarter was $4.8 million, compared to a net loss of $2.5 million in the second quarter of 2020. Essential Properties Realty Trustโs total assets were $5.4 billion as of June 30, 2021, with total liabilities of $1.8 billion. The company has a strong balance sheet, with a debt-to-capitalization ratio of 27.3%. Essential Properties Realty Trust has a history of maintaining steady and increasing dividends with a current dividend yield of 3.4%. In Conclusion Essential Properties Realty Trust is a strong and stable player in the real estate market, with a diversified portfolio and long-term leases with creditworthy tenants. The companyโs leadership team has a wealth of experience in the industry and a track record of success. With a strong financial performance and consistent dividends, Essential Properties Realty Trust is a trusted and reliable choice for investors looking to enter the commercial real estate market.
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