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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
June 3, 2021
Date of Report (Date of earliest event reported)
Essential Properties Realty Trust, Inc.
(Exact name of registrant as specified in its charter)
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Maryland
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001-38530
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82-4005693
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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902 Carnegie Center Blvd., Suite 520
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Princeton, New Jersey
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08540
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code:
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(609) 436-0619
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
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☐
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Written communications pursuant to Rule 425 under the Securities Act 17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class
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Trading Symbol(s)
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Name of Each Exchange on Which Registered
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Common stock, $0.01 par value
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EPRT
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New York Stock Exchange
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Item 7.01 — Regulation FD Disclosure
On June 3, 2021, Essential Properties Realty Trust, Inc. (the "Company") issued a press release announcing, among other things, that it expects 2021 Adjusted Funds from Operations on a fully diluted basis to be between $1.24 and $1.28 per share. A copy of the related press release is attached hereto as Exhibit 99.1.
The information set forth in this item 7.01 and in the attached Exhibit 99.1 is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of Section 18, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in any such filing.
Item 9.01 — Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No.
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Description
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Press Release dated June 3, 2021
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document).
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: June 3, 2021
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ESSENTIAL PROPERTIES REALTY TRUST, INC.
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By:
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/s/ Mark E. Patten
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Mark E. Patten
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Executive Vice President, Treasurer and Chief Financial Officer
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Essential Properties Realty Trust, Inc. Increases 2021 AFFO Per Share Guidance to $1.24 to $1.28 Per Share and Raises Second Quarter Dividend to $0.25 Per Share, a 4.2% Increase Over Prior Quarter
June 3, 2021
PRINCETON, N.J.—(BUSINESS WIRE)—Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that it expects its 2021 Adjusted Funds from Operations (“AFFO”) on a fully diluted basis to be between $1.24 and $1.28 per share. The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock for the second quarter of 2021. The second quarter 2021 dividend represents an annualized dividend of $1.00 per share of common stock and a 4.2% increase over the first quarter 2021 dividend. The dividend is payable on July 15, 2021, to stockholders of record as of the close of business on June 30, 2021.
Commenting on the recent announcements, Essential Properties’ President and Chief Executive Officer, Pete Mavoides, said, “With increased clarity on our investment pipeline and portfolio performance, we are increasing our 2021 AFFO per share guidance. Additionally, given this strengthened outlook, our board of directors raised our quarterly dividend to $0.25 per share. Looking ahead, our well-positioned balance sheet, proven portfolio durability and long-standing industry relationships continue to provide a solid foundation for generating compelling growth for shareholders.”
About Essential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of March 31, 2021, the Company’s portfolio consisted of 1,240 freestanding net lease properties with a weighted average lease term of 14.3 years and a weighted average rent coverage ratio of 3.0x. As of the same date, the Company’s portfolio was 99.1% leased to 259 tenants operating 367 different concepts in 17 industries across 43 states.
Investor/Media:
Essential Properties Realty Trust, Inc.
Daniel Donlan
Senior Vice President, Capital Markets
609-436-0626
info@essentialproperties.com
Source: Essential Properties Realty Trust, Inc.