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Essential Properties Realty Trust, Inc.: Business Overview, Financials & Competitive Analysis

Essential Properties Realty Trust 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 ex...

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7/ 10Strong

Cyborg Score thesis

EPRT is a well-positioned net lease REIT with strong cash flow generation and growth potential, though leverage management...

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Industry Real Estate Investment Trust (REIT) - Net Lease Properties
4 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 19, 2026
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Essential Properties Realty Trust, Inc. Overview

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Essential Properties Realty Trust 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 December 31, 2025, the Company's portfolio consisted of 2,300 freestanding net lease properties with a weighted average lease term of 14.4 years and a weighted average rent coverage ratio of 3.6x.

Strategic Profile

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The company has demonstrated consistent revenue growth with a 3-year growth rate of 9% and maintains a strong operating margin of 63.61% and net margin of 45.25%. The company leverages its deep relationships with middle-market operators and focus on essential, service-based industries to navigate market volatility.

Competitive Landscape

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EPRT competes within the net lease REIT sector against other single-tenant property operators. The company's competitive advantages include its internally managed structure, deep relationships with middle-market tenants, diversified portfolio across 659 concepts, and focus on essential service-based businesses with long-term lease stability. Competitors include NNN REIT, NETSTREIT, Broadstone Net Lease, and other specialized net lease REITs.

Industry Context

Essential Properties Realty Trust, Inc. operates in Real Estate Investment Trust (REIT) - Net Lease Properties.

Key facts

Founded: 2016 · Headquarters: Princeton, NJ · Revenue: Not separately disclosed · Market cap: $6.3B

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on Essential Properties Realty Trust, Inc..

  • Portfolio is 99.7% leased to tenants operating 659 different concepts across 48 states, demonstrating significant geographic and tenant diversification
  • 2026 AFFO per share guidance of $1.99-$2.04 significantly exceeds consensus estimates of $1.60
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Raised FY 2026 AFFO per share guidance to $1.99-$2.04, significantly above consensus estimate of $1.60
  • December 2025Increased quarterly dividend to $0.31 per share, an increase of approximately 3% over prior quarter
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

NNN REITTriple-net lease REIT focused on single-tenant retail properties→NETSTREITDiversified net lease REIT with emphasis on essential retail→Broadstone Net LeaseNet lease REIT acquiring single-tenant commercial properties→Four Corners Property TrustNet lease REIT focusing on triple-net and double-net properties→

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Industry context

Essential Properties Realty Trust, Inc. operates in Real Estate Investment Trust (REIT) - Net Lease Properties. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Essential Properties Realty Trust, Inc. do?+
Essential Properties Realty Trust 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 ex...
What is Essential Properties Realty Trust, Inc.'s Cyborg Score?+
Essential Properties Realty Trust, Inc. has a Cyborg Score of 7/10 (Strong). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Essential Properties Realty Trust, Inc.'s main competitors?+
Named competitors include NNN REIT, NETSTREIT, Broadstone Net Lease, Four Corners Property Trust. The full competitive landscape is in the AskCyborg report.
How can I get the full Essential Properties Realty Trust, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Essential Properties Realty Trust, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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