EPRTEssential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. (EPRT) is a real estate investment trust (REIT) that owns and operates industrial and commercial properties, primarily in the U.S. The next catalyst is Oct 22, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to meet FFO guidance and deliver operational clarity amid rising interest rates and sector volatility.
- EPRT’s revenue grew 24.8% YoY to $602.68M in the latest quarter, with a net margin of 43.6% (TTM).
- The company’s debt-to-equity ratio stands at 0.60x, with $4.20B in shareholders’ equity.
- EPRT’s Q3 2026 earnings release will be the first major test of its 2026 AFFO guidance and the broader macro environment.
The Read
EPRT’s stock rallied about 9% after Q4 2025 FFO met estimates and 2026 AFFO guidance was raised, then fell about 4.
The schedule
- Thu22Oct
The earnings release will test the ability to maintain AFFO growth and guide forward margins, with a focus on how the Fed's rate pause impacts rental income. This differs from the last print, where the guidance cut caused a sharp bearish reaction.
- Thu12Nov
The equity offering will test the ability to raise capital without diluting existing shareholders, with a focus on how the market perceives the company's financial flexibility and growth prospects.
- Tue9Feb
This release will test the ability to sustain AFFO growth and provide clarity on the impact of the Fed's rate pause on capital structure. The last print saw a strong bull move due to better-than-expected guidance.
- Wed21Apr
This event will test the ability to maintain AFFO growth and provide clarity on the impact of the Fed's rate pause on rental income. The last print saw a strong bull move due to better-than-expected guidance.
- Wed21Jul
This release will test the ability to sustain AFFO growth and provide clarity on the impact of the Fed's rate pause on capital structure. The last print saw a strong bull move due to better-than-expected guidance.
- Tue15Jul
The note maturity will test the ability to refinance debt without increasing the cost of capital, with a focus on the company's credit profile and market conditions at the time of maturity.
Past
- Wed16Sep
Actual outcome: Bear · $25.83 at outcome
The stock closed below the bear floor following the Fed Funds Rate Decision, indicating negative market sentiment. The outcome suggests that investors reacted unfavorably to the rate decision, likely due to concerns over interest rate impacts on the company's financial performance and future growth prospects.
- Wed22Jul
Actual outcome: Bull · $32.34 at outcome
Essential Properties Realty Trust reported Q2 2026 FFO of $0.50 per share and EPS of $0.28, both matching consensus estimates. The stock reached its bull target as management raised its full-year 2026 outlook, citing stronger investment activity, stable portfolio fundamentals, and a well-capitalized balance sheet.
Essential Properties reports Q2 2026 earnings, focusing on AFFO generation and capital deployment amid stabilized rates.
- Wed22Apr
Actual outcome: Mixed · $31.35 at outcome
EPRT reported Q1 2026 EPS of $0.28, exactly in line with consensus estimates, offering no major positive or negative surprises. The lack of a clear beat or miss on earnings, combined with an unchanged fundamental outlook, resulted in a muted market reaction, leaving the stock flat and trading between the bull and bear targets.
- Wed18Mar
Actual outcome: Bear · $30.62 at outcome
The FOMC rate outlook was severely pressured by escalating geopolitical conflict that drove oil prices above $100 and pushed interest rates higher, creating a significant headwind for interest-rate-sensitive REITs. This inflationary environment, coupled with institutional selling from firms like Victory Capital, led EPRT to fall below its bear floor as the market repriced for higher borrowing costs.
- Wed11Feb
Actual outcome: Bull · $32.69 at outcome
Essential Properties reported Q4 FFO of $0.49 per share, which met consensus estimates, stabilizing the core operational metric despite a headline EPS miss. The stock rallied, clearing the bull target, indicating that the market perceived the 2026 AFFO guidance (the critical focus for justifying the premium valuation) as robust and supportive of continued growth. The meeting of FFO expectations and positive guidance outweighed the non-core EPS miss, driving the stock above the $31.50 bull target.
