Essential Properties Realty Trust (EPRT)
Owner of single-tenant properties leased to middle-market service and experience businesses.
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Acquires and manages U.S. single-tenant properties leased long term to middle-market service and experience businesses, earning rent under triple-net leases. Growth centers on internally originated sale-leasebacks and repeat relationships, while tenant performance and capital-market access underpin the model.
Acquires and manages mostly freestanding, single-tenant properties across the United States, leasing them on long-term triple-net terms to middle-market operators. The portfolio centers on car washes, medical and dental services, early childhood education, automotive services, quick-service restaurants, convenience stores, equipment rental, entertainment, and fitness.
Sources new properties chiefly through internally originated sale-leasebacks and repeat relationships, supported by underwriting and active asset management. Contractual rent escalators provide internal growth, while acquisitions and dispositions refresh the portfolio.
Operates as a REIT through an operating partnership and relies on debt and equity markets to fund expansion. Most rent comes from service-oriented and experience-based tenants whose customers visit physical locations, tying lease performance to tenant operations and consumer spending.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Evercore ISI | Reiterate | Rating: —Target: $35 | Target: $37 |
| Sep 17, 2026 | Mizuho Securities | Target | Target: $34 | Target: $30 |
| Jul 29, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $36 | Target: $37 |
| Jul 23, 2026 | Stifel Nicolaus | Target | Target: $36.50 | Target: $36.25 |
| Jun 18, 2026 | Scotiabank | Upgrade | Target: $34 | Target: $33 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $134.2M · Total debt $2.92B · Total assets $7.49B · Shareholders' equity $4.41B
- Revenue
- $208.0M
- Operating income
- $104.4M
- Net income
- $74.5M
HistoryDividendAnnual yieldUpcoming
| Institutions | 118.38% | 256.02M shares | |
|---|---|---|---|
| 382 holders · as of Jun 30, 2026 | |||
| Insiders | 0.50% | 1.08M shares | |
| 13 holders · as of Jul 28, 2026 | |||
| Adds to | 118.88% | ||
216.27M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 118.88%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 18.33% | 39.64M | as of Jun 30, 2026 |
Cohen & Steers, Inc.Institution | 17.95% | 38.83M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 9.82% | 21.25M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.59% | 12.08M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.50% | 9.73M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 24, 2026 | Robert M. Jenkins | officer: Executive VP and COO | −22,000 | $32.22 |
| Mar 20, 2026 | A. Joseph Peil | officer: Executive VP and CIO | −19,657 | $32.10 |
| Mar 20, 2026 | Robert Webb Salisbury | officer: Executive VP and CFO | −5,851 | $31.88 |
- Realty Income
Scale leader in single-tenant net lease acquisitions.
- Agree Realty
Retail net lease acquirer with deep national tenant overlap.
- NNN REIT
Long-tenured single-tenant net lease retail peer.
- W. P. Carey
Corporate sale-leaseback specialist with global scale.
- Broadstone Net Lease
Diversified single-tenant commercial net lease peer.
- NETSTREIT
Smaller necessity retail net lease acquisition rival.
- Four Corners Property Trust
Restaurant and retail net lease peer in service categories.
- Alpine Income Property Trust
Small single-tenant retail net lease and loan peer.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Essential Properties Realty Trust | $26.88 | −0.63% | $5.85B | 21.0 | 21.0 | 8.8 | +10.3% |
| Realty Income | $55.37 | −2.05% | $52.71B | 41.3 | 34.3 | 8.9 | +1.1% |
| Agree Realty | $66.71 | −0.91% | $8.09B | 36.2 | 34.4 | 10.4 | +16.9% |
| NNN REIT | $41.24 | −0.87% | $7.91B | 20.4 | 19.6 | 8.3 | +7.2% |
| W. P. Carey | $66.48 | −0.61% | $15.24B | 22.8 | 22.4 | 8.0 | +7.0% |
| Broadstone Net Lease | $18.87 | −1.33% | $3.67B | 25.8 | 26.7 | 7.7 | +8.3% |
| NETSTREIT | $18.20 | −0.60% | $1.78B | 131.0 | 51.5 | 8.2 | +19.8% |
| Four Corners Property Trust | $22.07 | −1.65% | $2.46B | 20.2 | 19.9 | 8.0 | +7.7% |
| Alpine Income Property Trust | $17.07 | −1.50% | $286.4M | 89.6 | 26.4 | 4.1 | +34.6% |
| Median | 31.0 | 26.6 | 8.1 | +8.0% |