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Essential Properties Realty Trust

NYSE:EPRT
Snowflake Description

High growth potential average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EPRT
NYSE
$2B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Essential Properties Realty Trust, Inc., a real estate company, acquires, owns, and manages single-tenant properties in the United States. The last earnings update was 14 days ago. More info.


Add to Portfolio Compare Print
  • Essential Properties Realty Trust has significant price volatility in the past 3 months.
EPRT Share Price and Events
7 Day Returns
4.2%
NYSE:EPRT
-0.3%
US REITs
0.2%
US Market
1 Year Returns
-
NYSE:EPRT
13.3%
US REITs
2.9%
US Market
EPRT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Essential Properties Realty Trust (EPRT) 4.2% 10.6% 29.4% - - -
US REITs -0.3% 3.5% 3.2% 13.3% 11.3% 24.8%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • No trading data on EPRT.
  • No trading data on EPRT.
Price Volatility
Industry
5yr Volatility vs Market

EPRT Value

 Is Essential Properties Realty Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Essential Properties Realty Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Essential Properties Realty Trust.

NYSE:EPRT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:EPRT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (30.65%))
0.77
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NYSE:EPRT using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Essential Properties Realty Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Essential Properties Realty Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:EPRT DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.5%)
2019 83.39 Analyst x6 77.58
2020 108.24 Analyst x5 93.66
2021 142.50 Analyst x3 114.72
2022 160.80 Analyst x1 120.42
2023 193.20 Analyst x1 134.59
2024 219.24 Est @ 13.48% 142.07
2025 241.71 Est @ 10.25% 145.71
2026 261.04 Est @ 8% 146.39
2027 277.79 Est @ 6.42% 144.91
2028 292.54 Est @ 5.31% 141.96
Present value of next 10 years cash flows $1,262.01
NYSE:EPRT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $292.54 × (1 + 2.73%) ÷ (7.5% – 2.73%)
$6,302.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,302.95 ÷ (1 + 7.5%)10
$3,058.72
NYSE:EPRT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,262.01 + $3,058.72
$4,320.73
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,320.73 / 76.14
$56.74
NYSE:EPRT Discount to Share Price
Calculation Result
Value per share (USD) From above. $56.74
Current discount Discount to share price of $21.63
= -1 x ($21.63 - $56.74) / $56.74
61.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Essential Properties Realty Trust is available for.
Intrinsic value
>50%
Share price is $21.63 vs Future cash flow value of $56.74
Current Discount Checks
For Essential Properties Realty Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Essential Properties Realty Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Essential Properties Realty Trust's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Essential Properties Realty Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Essential Properties Realty Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:EPRT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.36
NYSE:EPRT Share Price ** NYSE (2019-05-22) in USD $21.63
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.92x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Essential Properties Realty Trust.

NYSE:EPRT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:EPRT Share Price ÷ EPS (both in USD)

= 21.63 ÷ 0.36

59.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Essential Properties Realty Trust is overvalued based on earnings compared to the US REITs industry average.
  • Essential Properties Realty Trust is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Essential Properties Realty Trust's expected growth come at a high price?
Raw Data
NYSE:EPRT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 59.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
21.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NYSE:EPRT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 59.48x ÷ 21.1%

2.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Essential Properties Realty Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Essential Properties Realty Trust's assets?
Raw Data
NYSE:EPRT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $13.87
NYSE:EPRT Share Price * NYSE (2019-05-22) in USD $21.63
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NYSE:EPRT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:EPRT Share Price ÷ Book Value per Share (both in USD)

= 21.63 ÷ 13.87

1.56x

* Primary Listing of Essential Properties Realty Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Essential Properties Realty Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Essential Properties Realty Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Essential Properties Realty Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

EPRT Future Performance

 How is Essential Properties Realty Trust expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
21.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Essential Properties Realty Trust expected to grow at an attractive rate?
  • Essential Properties Realty Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Essential Properties Realty Trust's earnings growth is expected to exceed the United States of America market average.
  • Essential Properties Realty Trust's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:EPRT Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:EPRT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 21.1%
NYSE:EPRT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 20.8%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:EPRT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:EPRT Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 311 73 2
2022-12-31 266 60 2
2021-12-31 223 181 57 5
2020-12-31 178 117 49 8
2019-12-31 141 114 36 7
NYSE:EPRT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 107 58 16
2018-12-31 96 46 11
2018-09-30 85 35 10
2018-06-30 73 26 5
2018-03-31 64 24 7
2017-12-31 54 22 6
2016-12-31 21 14 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Essential Properties Realty Trust's earnings are expected to grow significantly at over 20% yearly.
  • Essential Properties Realty Trust's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:EPRT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Essential Properties Realty Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:EPRT Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.61 0.61 0.61 1.00
2022-12-31 0.56 0.56 0.56 1.00
2021-12-31 0.67 0.82 0.51 2.00
2020-12-31 0.61 0.75 0.46 2.00
2019-12-31 0.59 0.62 0.55 2.00
NYSE:EPRT Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.36
2018-12-31 0.26
2018-09-30 0.22
2018-06-30 0.12
2018-03-31 29.72
2017-12-31 35.50
2016-12-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Essential Properties Realty Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Essential Properties Realty Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Essential Properties Realty Trust has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

EPRT Past Performance

  How has Essential Properties Realty Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Essential Properties Realty Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient data to establish if Essential Properties Realty Trust's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Essential Properties Realty Trust's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Essential Properties Realty Trust's earnings growth has exceeded the US REITs industry average in the past year (133% vs 16%).
Earnings and Revenue History
Essential Properties Realty Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Essential Properties Realty Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:EPRT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 107.16 15.89 14.59
2018-12-31 96.22 11.03 13.76
2018-09-30 84.93 9.65 12.04
2018-06-30 72.71 5.00 10.84
2018-03-31 63.83 6.82 10.18
2017-12-31 53.75 6.30 8.78
2016-12-31 20.69 5.00 5.76

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Essential Properties Realty Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Essential Properties Realty Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Unable to establish if Essential Properties Realty Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Essential Properties Realty Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Essential Properties Realty Trust has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

EPRT Health

 How is Essential Properties Realty Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Essential Properties Realty Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Essential Properties Realty Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Essential Properties Realty Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Essential Properties Realty Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Essential Properties Realty Trust Company Filings, last reported 1 month ago.

NYSE:EPRT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,039.49 504.73 109.11
2018-12-31 811.04 540.12 4.24
2018-09-30 814.89 507.48 73.27
2018-06-30 784.44 508.82 131.39
2018-03-31 232.75 735.14 1.84
2017-12-31 181.40 741.65 7.25
2016-12-31 174.65 272.82 1.83
  • Essential Properties Realty Trust's level of debt (48.6%) compared to net worth is high (greater than 40%).
  • Unable to establish if Essential Properties Realty Trust's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (11.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Essential Properties Realty Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Essential Properties Realty Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

EPRT Dividends

 What is Essential Properties Realty Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.88%
Current annual income from Essential Properties Realty Trust dividends. Estimated to be 4.2% next year.
If you bought $2,000 of Essential Properties Realty Trust shares you are expected to receive $78 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Essential Properties Realty Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Essential Properties Realty Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:EPRT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:EPRT Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.94 2.00
2022-12-31 0.91 2.00
2021-12-31 0.94 7.00
2020-12-31 0.92 9.00
2019-12-31 0.87 10.00
NYSE:EPRT Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-08 0.840 4.311
2018-12-10 0.840 5.577
2018-09-05 0.840 5.981
2018-08-08 0.840 5.921

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Essential Properties Realty Trust has stable dividend payments.
  • Essential Properties Realty Trust only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Essential Properties Realty Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (166.1x coverage).
X
Income/ dividend checks
We assess Essential Properties Realty Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Essential Properties Realty Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Essential Properties Realty Trust has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

EPRT Management

 What is the CEO of Essential Properties Realty Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pete Mavoides
COMPENSATION $4,536,000
AGE 51
TENURE AS CEO 1.3 years
CEO Bio

Mr. Peter M. Mavoides, also known as Pete, is President & Chief Executive Officer of Essential Properties Realty Trust, Inc. Mr. Mavoides served as the President and Chief Operating Officer of Spirit Realty Capital, Inc since September 2011 until February 25, 2015. Mr. Mavoides was employed at Sovereign Investment Company as its President and Chief Executive Officer. He joined Sovereign Investment Company in May 2003. He has extensive experience in the net lease sector. Over the course of his career, he has been involved in nearly $3.0 billion in sale-leaseback and single-tenant transactions. Prior to Sovereign, Mr. Mavoides had been with Eastdil Realty in its New York office. Before working with Eastdil, he was in the real estate investment banking group at Citigroup where he was responsible for servicing corporate clients in structuring sale-leaseback transactions. Mr. Mavoides holds an M.B.A. from the University of Michigan and a B.S. from the United States Military Academy. He is Director at Essential Properties Realty Trust, Inc.

CEO Compensation
  • Pete's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Pete's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Essential Properties Realty Trust management team in years:

1.3
Average Tenure
51
Average Age
  • The average tenure for the Essential Properties Realty Trust management team is less than 2 years, this suggests a new team.
Management Team

Pete Mavoides

TITLE
President
COMPENSATION
$5M
AGE
51
TENURE
1.3 yrs

Hillary Hai

TITLE
Senior VP & CFO
COMPENSATION
$1M
AGE
36
TENURE
1.3 yrs

Gregg Seibert

TITLE
Executive VP
COMPENSATION
$4M
AGE
54
TENURE
1.3 yrs

Dan Donlan

TITLE
Senior VP & Head of Capital Markets
TENURE
1.3 yrs

A. Peil

TITLE
Senior VP & Head of Asset Management

Chama Punlert

TITLE
Senior VP & Head of Credit

Tim Earnshaw

TITLE
Controller
Board of Directors Tenure

Average tenure and age of the Essential Properties Realty Trust board of directors in years:

1.3
Average Tenure
49
Average Age
  • The average tenure for the Essential Properties Realty Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Paul Bossidy

TITLE
Chairman of the Board
COMPENSATION
$184K
AGE
58
TENURE
1.3 yrs

Pete Mavoides

TITLE
President
COMPENSATION
$5M
AGE
51
TENURE
1.3 yrs

Scott Estes

TITLE
Director
COMPENSATION
$142K
AGE
47
TENURE
1.3 yrs

Joyce DeLucca

TITLE
Director
COMPENSATION
$137K
AGE
53
TENURE
1.3 yrs

Stephen Sautel

TITLE
Director
COMPENSATION
$140K
AGE
49
TENURE
1.3 yrs

Anthony Minella

TITLE
Director
AGE
41
TENURE
1.3 yrs

Todd Gilbert

TITLE
Director
AGE
36
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
27. Jun 18 Buy Security Investors, LLC Company 25. Jun 18 25. Jun 18 7,785,611 $14.00 $108,998,554
17. Dec 18 Buy Daniel Donlan Individual 14. Dec 18 14. Dec 18 1,500 $13.73 $20,589
15. Nov 18 Buy Daniel Donlan Individual 15. Nov 18 15. Nov 18 2,100 $13.76 $28,896
06. Nov 18 Buy Peter Mavoides Individual 06. Nov 18 06. Nov 18 10,000 $14.29 $142,947
06. Nov 18 Buy Paul Bossidy Individual 06. Nov 18 06. Nov 18 4,000 $14.22 $56,892
06. Nov 18 Buy Gregg Seibert Individual 06. Nov 18 06. Nov 18 6,000 $14.12 $84,705
23. Aug 18 Buy Gregg Seibert Individual 22. Aug 18 22. Aug 18 8,000 $14.31 $114,453
21. Aug 18 Buy Paul Bossidy Individual 17. Aug 18 17. Aug 18 5,000 $14.02 $70,085
21. Aug 18 Buy Peter Mavoides Individual 17. Aug 18 17. Aug 18 10,000 $13.99 $139,894
14. Aug 18 Buy Scott Estes Individual 10. Aug 18 10. Aug 18 10,000 $14.04 $140,388
12. Jul 18 Buy Hillary Hai Individual 25. Jun 18 25. Jun 18 5,000 $14.00 $70,000
12. Jul 18 Buy Paul Bossidy Individual 25. Jun 18 25. Jun 18 6,000 $14.00 $84,000
12. Jul 18 Buy Stephen Sautel Individual 25. Jun 18 25. Jun 18 200,000 $14.00 $2,800,000
X
Management checks
We assess Essential Properties Realty Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Essential Properties Realty Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

EPRT News

Simply Wall St News

Why I Like Essential Properties Realty Trust, Inc. (NYSE:EPRT)

For those interested in understanding where the figures come from and want to see the analysis, take a look at the report on Essential Properties Realty Trust here. … High growth potential average dividend payer One reason why investors are attracted to EPRT is its notable earnings growth potential in the near future of 21%. … NYSE:EPRT Past and Future Earnings, May 20th 2019 EPRT's high dividend payments make it one of the best dividend stocks on the market, and its profitability ensures that dividends are well-covered by its net income.

Simply Wall St -

You May Have Been Looking At Essential Properties Realty Trust, Inc. (NYSE:EPRT) All Wrong

Essential Properties Realty Trust, Inc. … Check out our latest analysis for Essential Properties Realty Trust … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent

Simply Wall St -

Should You Take Comfort From Insider Transactions At Essential Properties Realty Trust, Inc. (NYSE:EPRT)?

So before you buy or sell Essential Properties Realty Trust, Inc. … Essential Properties Realty Trust Insider Transactions Over The Last Year. … Essential Properties Realty Trust may have bought shares in the last year, but they didn't sell any

Simply Wall St -

Is Essential Properties Realty Trust, Inc.'s (NYSE:EPRT) Growth Strong Enough To Justify Its March Share Price?

Essential Properties Realty Trust, Inc. … (NYSE:EPRT) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of $16.97 is based on unrealistic expectations. … See our latest analysis for Essential Properties Realty Trust?

Simply Wall St -

What You Need To Know Before Investing In Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Essential Properties Realty Trust, Inc. … real estate investment trust (REIT) based in Princeton, United States. … See our latest analysis for Essential Properties Realty Trust.

Simply Wall St -

Have Insiders Been Buying Essential Properties Realty Trust Inc (NYSE:EPRT) Shares This Year?

So we'll take a look at whether insiders have been buying or selling shares in Essential Properties Realty Trust Inc (NYSE:EPRT). … Essential Properties Realty Trust Insider Transactions Over The Last Year. … In the last twelve months there was more buying than selling by Essential Properties Realty Trust insiders

Simply Wall St -

Should Essential Properties Realty Trust Inc (NYSE:EPRT) Be Part Of Your Dividend Portfolio?

Essential Properties Realty Trust Inc (NYSE:EPRT) has started paying a dividend to shareholders. … Let's take a look at Essential Properties Realty Trust in more detail. … View our latest analysis for Essential Properties Realty Trust

Simply Wall St -

Why Essential Properties Realty Trust Inc (NYSE:EPRT) May Not Be As Efficient As Its Industry

and want to begin learning the link between Essential Properties Realty Trust Inc (NYSE:EPRT)’s return fundamentals and stock market performance. … Essential Properties Realty Trust Inc (NYSE:EPRT) generated a below-average return on equity of 2.93% in the past 12 months, while its industry returned 7.63%. … EPRT's results could indicate a relatively inefficient operation to its peers, and while this may be the case, it is important to understand what ROE is made up of and how it should be interpreted.

Simply Wall St -

EPRT Company Info

Description

Essential Properties Realty Trust, Inc., a real estate company, acquires, owns, and manages single-tenant properties in the United States. The company leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis. As of December 31, 2018, it had a portfolio of 677 properties. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2016 and is based in Princeton, New Jersey.

Details
Name: Essential Properties Realty Trust, Inc.
EPRT
Exchange: NYSE
Founded: 2016
$1,647,002,377
$1,234,809,157
76,144,354
Website: http://www.essentialproperties.com
Address: Essential Properties Realty Trust, Inc.
902 Carnegie Center Boulevard,
Suite 520,
Princeton,
New Jersey, 08540,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE EPRT Common Stock New York Stock Exchange US USD 21. Jun 2018
Number of employees
Current staff
Staff numbers
18
Essential Properties Realty Trust employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 06:47
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.