NYSE:EPRT

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Essential Properties Realty Trust

Executive Summary

Essential Properties Realty Trust, Inc., a real estate company, acquires, owns, and manages single-tenant properties in the United States.


Snowflake Analysis

Solid track record, good value and pays a dividend.

Share Price & News

How has Essential Properties Realty Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EPRT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.3%

EPRT

5.0%

US REITs

3.0%

US Market


1 Year Return

-35.2%

EPRT

-10.1%

US REITs

9.9%

US Market

Return vs Industry: EPRT underperformed the US REITs industry which returned -10.1% over the past year.

Return vs Market: EPRT underperformed the US Market which returned 9.9% over the past year.


Shareholder returns

EPRTIndustryMarket
7 Day3.3%5.0%3.0%
30 Day2.7%4.8%8.2%
90 Day-44.3%-13.7%0.4%
1 Year-32.1%-35.2%-6.3%-10.1%12.4%9.9%
3 Yearn/a10.1%-3.5%31.0%22.3%
5 Yearn/a40.5%11.5%58.1%40.3%

Price Volatility Vs. Market

How volatile is Essential Properties Realty Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Essential Properties Realty Trust undervalued compared to its fair value and its price relative to the market?

48.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EPRT ($13.64) is trading below our estimate of fair value ($26.22)

Significantly Below Fair Value: EPRT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EPRT is good value based on its PE Ratio (20.9x) compared to the REITs industry average (27.4x).

PE vs Market: EPRT is poor value based on its PE Ratio (20.9x) compared to the US market (15.7x).


Price to Earnings Growth Ratio

PEG Ratio: EPRT is poor value based on its PEG Ratio (4.8x)


Price to Book Ratio

PB vs Industry: EPRT is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (1.3x).


Next Steps

Future Growth

How is Essential Properties Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

4.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EPRT's forecast earnings growth (4.3% per year) is above the savings rate (2.2%).

Earnings vs Market: EPRT's earnings (4.3% per year) are forecast to grow slower than the US market (22% per year).

High Growth Earnings: EPRT's earnings are forecast to grow, but not significantly.

Revenue vs Market: EPRT's revenue (10.8% per year) is forecast to grow faster than the US market (8.8% per year).

High Growth Revenue: EPRT's revenue (10.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if EPRT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

77.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EPRT has high quality earnings.

Growing Profit Margin: EPRT's current net profit margins (32.9%) are higher than last year (15.9%).


Past Earnings Growth Analysis

Earnings Trend: EPRT's earnings have grown significantly by 77.2% per year over the past 5 years.

Accelerating Growth: EPRT's earnings growth over the past year (188%) exceeds its 5-year average (77.2% per year).

Earnings vs Industry: EPRT earnings growth over the past year (188%) exceeded the REITs industry 5.3%.


Return on Equity

High ROE: EPRT's Return on Equity (3.9%) is considered low.


Next Steps

Financial Health

How is Essential Properties Realty Trust's financial position?


Financial Position Analysis

Short Term Liabilities: EPRT's short term assets ($259.2M) exceed its short term liabilities ($28.9M).

Long Term Liabilities: EPRT's short term assets ($259.2M) do not cover its long term liabilities ($920.8M).


Debt to Equity History and Analysis

Debt Level: EPRT's debt to equity ratio (66.8%) is considered high.

Reducing Debt: Insufficient data to determine if EPRT's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: EPRT's debt is not well covered by operating cash flow (10.8%).

Interest Coverage: EPRT's interest payments on its debt are well covered by EBIT (3x coverage).


Balance Sheet


Next Steps

Dividend

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

6.74%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: EPRT's dividend (6.74%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: EPRT's dividend (6.74%) is in the top 25% of dividend payers in the US market (4.54%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, EPRT has been paying a dividend for less than 10 years.

Growing Dividend: EPRT's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (78.2%), EPRT's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: EPRT's dividends in 3 years are forecast to be thoroughly covered by earnings (0.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Pete Mavoides (52yo)

2.42yrs

Tenure

US$2,388,000

Compensation

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 Realt ...


CEO Compensation Analysis

Compensation vs Market: Pete's total compensation ($USD2.39M) is below average for companies of similar size in the US market ($USD4.76M).

Compensation vs Earnings: Pete's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Peter Mavoides
President2.42yrsUS$2.39m0.27% $3.3m
Anthony Dobkin
Interim CFO & Director0.75yrUS$16.00k0.13% $1.7m
Gregg Seibert
Executive VP & COO2.42yrsUS$1.30m0.25% $3.1m
Timothy Earnshaw
Senior Vice President & Chief Accounting Officer0.42yrno data0.019% $237.0k
Daniel Donlan
Senior VP & Head of Capital Markets2.42yrsno data0.031% $385.8k
A. Peil
Senior VP & Head of Asset Managementno datano datano data
Chama Punlert
Senior VP & Head of Creditno datano datano data

2.4yrs

Average Tenure

45.5yo

Average Age

Experienced Management: EPRT's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Peter Mavoides
President2.42yrsUS$2.39m0.27% $3.3m
Anthony Dobkin
Interim CFO & Director0.75yrUS$16.00k0.13% $1.7m
Paul Bossidy
Independent Chairman of the Board2.42yrsUS$209.00k0.043% $545.4k
Stephen Sautel
Independent Director2.42yrsUS$124.00k0.29% $3.6m
Scott Estes
Independent Director2.42yrsUS$129.00k0.063% $792.4k
Janaki Sivanesan
Independent Director0.42yrno datano data
Lawrence Minich
Independent Director0.42yrno data0.0027% $34.3k
Heather Neary
Independent Director0.42yrno data0.0012% $15.1k
Joyce DeLucca
Independent Director2.42yrsUS$119.00k0.0085% $106.2k

2.4yrs

Average Tenure

50yo

Average Age

Experienced Board: EPRT's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: EPRT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 20.9%.


Top Shareholders

Company Information

Essential Properties Realty Trust, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Essential Properties Realty Trust, Inc.
  • Ticker: EPRT
  • Exchange: NYSE
  • Founded: 2016
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.256b
  • Market Cap: US$1.248b
  • Shares outstanding: 92.06m
  • Website: https://www.essentialproperties.com

Number of Employees


Location

  • Essential Properties Realty Trust, Inc.
  • 902 Carnegie Center Boulevard
  • Suite 520
  • Princeton
  • New Jersey
  • 8540
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EPRTNYSE (New York Stock Exchange)YesCommon StockUSUSDJun 2018

Biography

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, 2019, it had a portfolio of 1000 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/01 05:38
End of Day Share Price2020/05/29 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.