ESSENTIAL PROPERTIES REALTY TRUST, INC. reported second-quarter 2026 results with revenue of $161.9M, up from $137.1M a year earlier, and net income attributable to stockholders of $74.3M, versus $63.2M in Q2 2025.
Financial Highlights
- Revenue was $161.9M for Q2 2026, compared with $137.1M in Q2 2025; YoY change 17.0%.
- Net income attributable to stockholders was $74.3M for Q2 2026, compared with $63.2M in Q2 2025; YoY change 17.5%.
- Diluted earnings per share: not provided in Part I Items 1–2 for Q2 2026 and therefore omitted.
Business Highlights
- Portfolio grew to 2,493 properties, with occupancy at 99.6%, and approximately 287 rental properties added year-over-year contributing to revenue growth.
- Rental revenue increased about 19% year-to-date driven by acquisitions and sale-leaseback originations, supporting higher cash NOI and operating scale.
- New investments remained focused on internally originated sale-leasebacks (92% of new investments) and master leases to strengthen tenant relationships and deal sourcing.
- Portfolio diversification spans 715 concepts across 48 states; top-10 tenants account for only 15.2% of rent, limiting single-tenant concentration risk.
- Operating discipline reflected in a long weighted average lease term of 14.3 years, 97% of leases with escalations, and strong unit-level rent coverage of 3.5x.
Original SEC Filing:
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