Real Estate · REIT - Diversified
Price
$31.18
Market Cap
$6.7B
Employees
48
Beta
0.90
Avg Volume
2,128,561
CEO
Peter Mavoides
Business Description
Essential Properties Realty Trust, Inc. (EPRT) is a real estate enterprise focused on the acquisition, ownership, and management of freestanding, single-tenant commercial properties throughout the United States. The company leases these assets under long-term agreements to a diverse range of mid-sized businesses. Its tenant base spans various sectors, including dining establishments, automotive care facilities (like car washes and repair shops), medical and dental practices, convenience stores, equipment rental providers, entertainment venues, early childhood education centers, grocery outlets, and health and fitness clubs. As of December 31, 2021, EPRT's property portfolio included 1,451 locations. For federal income tax purposes, the company operates as a real estate investment trust (REIT), which generally exempts it from corporate income taxes, provided it distributes at least 90% of its taxable profits to its shareholders. The company was founded in 2016 and maintains its corporate headquarters in Princeton, New Jersey.
Business History
Price Overview
Price at report time · Jul 5, 4:05am (0m ago)
$31.18
Change · Jul 5
+1.17 (+3.90%)
Day Range
$30.10 – $31.18
52-Week Range
$28.95 – $34.73
50-Day MA
$30.73
200-Day MA
$30.99
Volume
1,094,557.00
Right now · live
loading…
Real-time — the change above is the move since the report (over 0m).
Analyst Price Targets
Low
$33.00
Consensus
$36.75
High
$40.00
(27 analysts)
Share Structure
Outstanding
216,245,955.00
Float
214,980,960.00
Free Float
99.4%
High free float
— 99.4% of shares trade freely, ~0.6% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
25.53
Stock Price: $31.18
EPS (Diluted): 1.29
EPS (Diluted): 1.29
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.41
Stock Price: $31.18
Total Equity: $4.20B
Shares: 201,619,219
Total Equity: $4.20B
Shares: 201,619,219
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
17.39
Market Cap: $6.74B
Total Debt: $2.51B
Cash: $60.18M
EBITDA: $518.96M
Total Debt: $2.51B
Cash: $60.18M
EBITDA: $518.96M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$8.4B
Market Cap: $6.74B
Total Debt: $2.51B
Cash: $60.18M
Total Debt: $2.51B
Cash: $60.18M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
84.0%
Gross Profit: $472.26M
Revenue: $561.89M
Revenue: $561.89M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
64.5%
Operating Income: $362.45M
Revenue: $561.89M
Revenue: $561.89M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
45.0%
Net Income: $253.01M
Revenue: $561.89M
Revenue: $561.89M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
6.3%
Net Income: $253.01M
Total Equity: $4.20B
Total Equity: $4.20B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
48.8%
Operating Income: $362.45M
Tax Rate: 0.3%
Equity: $4.20B
Total Debt: $2.51B
Cash: $60.18M
Tax Rate: 0.3%
Equity: $4.20B
Total Debt: $2.51B
Cash: $60.18M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
6.13
Current Assets: $652.51M
Current Liabilities: $106.42M
Current Liabilities: $106.42M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.60
Short-Term Debt: $0.00
Long-Term Debt: $2.51B
Total Debt: $2.51B
Total Equity: $4.20B
Long-Term Debt: $2.51B
Total Debt: $2.51B
Total Equity: $4.20B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$2.79
Revenue: $561.89M
Shares: 201,619,219
Shares: 201,619,219
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$20.83
Total Equity: $4.20B
Shares: 201,619,219
Shares: 201,619,219
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$1.89
Operating CF: $381.08M
CapEx: $0.00
Shares: 201,619,219
CapEx: $0.00
Shares: 201,619,219
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
3.9%
Last Dividend: N/A
Stock Price: $31.18
Stock Price: $31.18
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $253.01M
Net Income: $253.01M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares EPRT against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 5, 2026 4:05am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $230.2M | $286.5M | $359.6M | $449.6M | $561.9M |
| Cost of Revenue | $5.8M | $3.5M | $4.7M | $5.0M | $89.6M |
| Gross Profit | $224.5M | $283.1M | $354.9M | $444.6M | $472.3M |
| Operating Expenses | $90.1M | $107.6M | $112.2M | $166.4M | $109.8M |
| Operating Income | $134.4M | $175.4M | $242.8M | $278.2M | $362.5M |
| Net Income | $95.7M | $134.1M | $190.7M | $203.0M | $253.0M |
| EBITDA | $199.9M | $253.5M | $352.1M | $405.0M | $519.0M |
| EPS | $0.82 | $0.99 | $1.25 | $1.16 | $1.29 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 5, 2026 4:05am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $59.8M | $62.3M | $39.8M | $40.7M | $60.2M |
| Total Current Assets | $348.1M | $417.9M | $164.0M | $580.4M | $652.5M |
| Total Assets | $3.3B | $4.0B | $4.8B | $5.8B | $6.9B |
| Current Liabilities | $64.8M | $68.7M | $71.0M | $90.8M | $106.4M |
| Long-Term Debt | $1.2B | $1.4B | $1.7B | $2.1B | $2.5B |
| Total Liabilities | $1.3B | $1.5B | $1.8B | $2.2B | $2.7B |
| Total Equity | $2.0B | $2.5B | $3.0B | $3.6B | $4.2B |
| Retained Earnings | -$101.0M | -$117.2M | -$105.5M | -$113.3M | -$109.3M |
Cash Flow (Annual)
Last updated: Jul 5, 2026 4:05am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $167.4M | $211.0M | $254.6M | $308.5M | $381.1M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $167.4M | $211.0M | $254.6M | $308.5M | $381.1M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $26.8M | $11.7M | -$22.5M | -$4.0M | $25.4M |
Analyst Estimates (Annual)
Last updated: Jul 5, 2026 4:05am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$718.7M $704.0M – $730.2M
|
$833.3M $814.0M – $852.6M
|
$973.0M $937.5M – $990.4M
|
$1.1B $1.1B – $1.1B
|
| EBITDA |
$655.0M $641.6M – $665.4M
|
$759.4M $741.8M – $777.0M
|
$886.7M $854.3M – $902.5M
|
$999.3M $962.8M – $1.0B
|
| Net Income |
$278.9M $275.7M – $282.1M
|
$292.1M $272.2M – $312.0M
|
$298.4M $284.2M – $305.3M
|
$312.5M $297.7M – $319.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 5, 2026 4:05am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +24.4% | +25.5% | +25.0% | +25.0% |
| Gross Profit Growth | +26.1% | +25.4% | +25.3% | +6.2% |
| Operating Income Growth | +30.5% | +38.4% | +14.6% | +30.3% |
| Net Income Growth | +40.1% | +42.2% | +6.4% | +24.6% |
| EBITDA Growth | +26.8% | +38.9% | +15.0% | +28.1% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-13 | DeLucca Joyce | A-Award | 3,837.00 | $0.00 | $0 |
| 2026-05-13 | ESTES SCOTT A | A-Award | 3,837.00 | $0.00 | $0 |
| 2026-05-13 | Sautel Stephen D | A-Award | 2,938.00 | $0.00 | $0 |
| 2026-05-13 | Sautel Stephen D | A-Award | 3,837.00 | $0.00 | $0 |
| 2026-05-13 | Sivanesan Janaki | A-Award | 3,837.00 | $0.00 | $0 |
| 2026-05-13 | Smallwood Kristin L | A-Award | 3,837.00 | $0.00 | $0 |
| 2026-05-13 | Neary Heather Leed | A-Award | 3,837.00 | $0.00 | $0 |
| 2026-05-13 | Minich Lawrence J | A-Award | 3,837.00 | $0.00 | $0 |
| 2026-04-27 | Mavoides Peter M. | G-Gift | 132,959.00 | $0.00 | $0 |
| 2026-04-27 | Mavoides Peter M. | G-Gift | 132,959.00 | $0.00 | $0 |
| 2026-04-14 | Mavoides Peter M. | A-Award | 796.00 | $0.00 | $0 |
| 2026-04-14 | Mavoides Peter M. | A-Award | 1,154.00 | $0.00 | $0 |
| 2026-04-14 | Peil A Joseph | A-Award | 165.00 | $0.00 | $0 |
| 2026-04-14 | Jenkins Robert M | A-Award | 165.00 | $0.00 | $0 |
| 2026-04-14 | Earnshaw Timothy J | A-Award | 89.00 | $0.00 | $0 |
| 2026-03-24 | Mavoides Peter M. | G-Gift | 30,098.00 | $0.00 | $0 |
| 2026-03-20 | Salisbury Robert Webb | S-Sale | 5,851.00 | $31.88 | $186,530 |
| 2026-03-20 | Peil A Joseph | S-Sale | 19,657.00 | $32.10 | $630,990 |
| 2026-02-20 | Salisbury Robert Webb | A-Award | 15,848.00 | $0.00 | $0 |
| 2026-02-20 | Earnshaw Timothy J | A-Award | 5,071.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jul 5, 2026 4:05am (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-30 | $0.32 | 2026-06-01 | 2026-06-30 | 2026-07-14 |
| 2026-03-31 | $0.31 | 2026-03-06 | 2026-03-31 | 2026-04-14 |
| 2025-12-31 | $0.31 | 2025-12-05 | 2025-12-31 | 2026-01-14 |
| 2025-09-30 | $0.30 | 2025-09-05 | 2025-09-30 | 2025-10-14 |
| 2025-06-30 | $0.30 | 2025-05-30 | 2025-06-30 | 2025-07-14 |
| 2025-03-31 | $0.30 | 2025-03-10 | 2025-03-31 | 2025-04-11 |
| 2024-12-31 | $0.30 | 2024-12-09 | 2024-12-31 | 2025-01-14 |
| 2024-09-30 | $0.29 | 2024-09-09 | 2024-09-30 | 2024-10-11 |
| 2024-06-28 | $0.29 | 2024-06-03 | 2024-06-28 | 2024-07-12 |
| 2024-03-27 | $0.29 | 2024-03-07 | 2024-03-29 | 2024-04-12 |
| 2023-12-28 | $0.29 | 2023-12-04 | 2023-12-29 | 2024-01-12 |
| 2023-09-28 | $0.28 | 2023-09-07 | 2023-09-29 | 2023-10-13 |
| 2023-06-29 | $0.28 | 2023-06-09 | 2023-06-30 | 2023-07-14 |
| 2023-03-30 | $0.28 | 2023-03-09 | 2023-03-31 | 2023-04-14 |
| 2022-12-29 | $0.28 | 2022-11-30 | 2022-12-30 | 2023-01-13 |
| 2022-09-29 | $0.27 | 2022-09-07 | 2022-09-30 | 2022-10-14 |
| 2022-06-29 | $0.27 | 2022-06-02 | 2022-06-30 | 2022-07-14 |
| 2022-03-30 | $0.26 | 2022-03-14 | 2022-03-31 | 2022-04-13 |
| 2021-12-30 | $0.26 | 2021-12-06 | 2021-12-31 | 2022-01-13 |
| 2021-09-29 | $0.25 | 2021-09-02 | 2021-09-30 | 2021-10-14 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for EPRT — it's generated by the pipeline (
market-narrative step).
No community reviews yet for EPRT.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.377 · 1648bd22 · 2026-07-04 14:36:23