January 25, 2021 5:44 PM
“With our portfolio demonstrating continued stability into January, and our investment trajectory returning to historical levels, we now have sufficient visibility to provide 2021 AFFO guidance,” said Essential Properties’ President and Chief Executive Officer,
Additionally, the Company announced that it will release its operating results for the fourth quarter and year ended
A webcast of the conference call will be available on the Investor Relations section of the Company’s website at www.essentialproperties.com. To listen to the live broadcast, please go to the Company’s website at least 15 minutes prior to the scheduled start time to register, download and install any necessary audio software.
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Conference Call Playback:
Replay Pin: 13715611
Non-GAAP Financial Measures and Definitions
AFFO is a non-GAAP financial measure that is based on Core FFO, which, in turn is based on Funds From Operation (“FFO”). The Company computes FFO in accordance with the definition adopted by the
The Company does not provide a reconciliation for its guidance range of AFFO per diluted share to net income available to common stockholders per diluted share, the most directly comparable forward-looking GAAP financial measure, due to the inherent variability in timing and/or amount of various items that could impact net income available to common stockholders per diluted share, including, for example, gains or losses on debt extinguishment, impairments and other items that are outside the control of the Company.
“Cash ABR” means estimated annualized contractually specified cash base rent in effect as of
This press release contains forward-looking statements within the meaning of the federal securities laws. When used in this press release, the words “estimate,” “anticipate,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “seek,” “approximately” or “plan,” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters are intended to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions of management. Forward-looking statements involve numerous risks and uncertainties and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and the Company may not be able to realize them. The Company does not guarantee that the transactions and events described will happen as described (or that they will happen at all). The following risks and uncertainties, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the ongoing impact of the Covid-19 pandemic on the Company and its tenants; industry and economic conditions; volatility and uncertainty in the financial markets; the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate, integrate and manage investments; the financial performance of the Company’s tenants and the demand for space; increases in the Company’s cost of capital; the Company’s ability to access debt and equity capital markets; the Company’s ability to maintain its qualification as a REIT under the Internal Revenue Code of 1986, as amended; other risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters; and other risks discussed in the Company’s most recent filings with the
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law. In light of these risks and uncertainties, the forward-looking events discussed in this press release might not occur as described, or at all. Such forward-looking statements should be regarded solely as reflections of the Company’s current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release.