The raised AFFO guidance and strong investment momentum suggest continued earnings growth; monitor upcoming quarters for sustained cap rate discipline and leverage trends.
Price Chart
Executive Summary
Essential Properties reported Q1 2026 results with AFFO per share of $0.50, a 11% YoY increase, and raised full-year 2026 AFFO guidance to $2.00–$2.05. The company closed $388.6 million in new investments at a 7.7% cash cap rate and raised $419 million in equity, including a $402.5 million follow-on offering.
Key Financial Metrics
Key Facts
- AFFO per share of $0.50, up 11% YoY from $0.45
- Raised 2026 AFFO guidance to $2.00–$2.05 per share from $1.99–$2.04
- Closed $388.6 million in investments at a 7.7% weighted average cash cap rate
- Raised $402.5 million in gross equity via a follow-on offering at $32.20/share
- Pro forma net debt to annualized adjusted EBITDAre improved to 3.5x
Financial Impact
Increased 2026 AFFO guidance by $0.01 at the midpoint, driven by strong investment volume and capital markets execution
Risk Factors
- Increased leverage from $402.5 million equity raise may dilute returns if investment yields fall below cost of capital
- Macro risks from dynamic economic backdrop could impact tenant performance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001728951-26-000028 |
| Document: suppipq12026.htm | 0001728951-26-000028 |
| Document: eprt-20260422.htm | 0001728951-26-000028 |
| Document: 0001728951-26-000028-index-headers.html | 0001728951-26-000028 |
| Document: 0001728951-26-000028-index.html | 0001728951-26-000028 |
| Document: 0001728951-26-000028.txt | 0001728951-26-000028 |
| 8-K Data (Synthetic) | 0001728951-26-000028 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $26.26 $26.67 | ▲ +1.56% | ▲ +2.08% | $27.17 (+3.47%) |
Sep 16, 2026 5w ago | 8-K | $26.80 $26.75 | ▼ −0.19% | ▼ −0.07% | $27.17 (+1.38%) |
Sep 16, 2026 5w ago | 8-K | $26.80 $26.75 | ▼ −0.19% | ▼ −0.07% | $27.17 (+1.38%) |
Jul 24, 2026 13w ago | 424B5 | $31.93 $32.10 | ▲ +0.53% | ▲ +0.29% | $27.17 (−14.91%) |
Jun 5, 2026 20w ago | 424B5 | $30.02 $30.36 | ▲ +1.13% | ▲ +1.43% | $27.17 (−9.49%) |
Jun 4, 2026 20w ago | 424B5 | $29.67 $30.27 | ▲ +2.02% | ▲ +4.62% | $27.17 (−8.43%) |
Jun 1, 2026 21w ago | 8-K | $30.14 $29.71 | ▼ −1.43% | ▼ −0.71% | $27.17 (−9.85%) |
Apr 22, 2026 26w ago | 8-K | $31.50 $31.42 | ▼ −0.25% | ▼ −1.04% | $27.17 (−13.75%) |
Apr 7, 2026 28w ago | 8-K | $31.63 $31.68 | ▲ +0.16% | ▼ −2.38% | $27.17 (−14.10%) |
Mar 20, 2026 31w ago | Insider Cluster | $31.39 $30.98 | ▼ −1.29% | ▼ −2.40% | $27.17 (−13.45%) |
US Market Status
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