Essential Properties Realty Trust combines best-in-class operating fundamentals — a Piotroski score of 9 out of 9, a Rule of 40 reading of 73, and 43% margins — with three consecutive earnings beats, but the stock is trading below its 200-day moving average amid falling on-balance volume, creating a near-term headwind that must resolve before the setup becomes compelling.
Thesis pillars
- Best In Class Operating Quality→Stable
- Earnings Beat Consistency→Stable
- Momentum Headwind Pullback↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Essential Properties Realty Tru (EPRT) Stock Analysis
Breakout setup
Real Estate · REIT - Retail
Hold if already holding. Not a fresh buy at $32.34, but acceptable to hold if already in. Reason: Thin upside margin: 3.0%.
Essential Properties Realty Trust acquires and net-leases single-tenant commercial properties to middle-market, service-oriented and experience-based businesses across 48 states. As of December 31, 2025, the portfolio had 2,300 properties with $555.0 million in annualized base... Read more
Hold if already holding. Not a fresh buy at $32.34, but acceptable to hold if already in. Reason: Thin upside margin: 3.0%. Chart setup: Golden cross, above all MAs, RSI 66, MACD bullish. Maintain position. Not compelling to add more. Score 6.0/10, moderate confidence.
Passes 6/9 gates (positive momentum, clean insider activity, news boost analyst 0.50, earnings proximity 88d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Essential Properties Realty Tru
About Essential Properties Realty Tru
Essential Properties Realty Trust's 2,300 single-tenant, net-leased properties across 48 states generated $555.0 million in total annualized base rent at 99.7% occupancy as of December 31, 2025, with total gross investment reaching $7.2 billion. The company completed $1.3 billion of new investments in 270 properties during 2025; the portfolio's weighted average remaining lease term was 14.4 years, with 97.3% of annualized base rent from triple-net leases.
Essential Properties focuses on middle-market companies — operators with 10 to 250 locations and $20 million to $1 billion in revenue — that the company believes are underserved by traditional capital providers. The sale-leaseback model dominates: 95% of 2025 investments were internally originated sale-leasebacks, and 82% of new investments involved parties with prior transaction history with the senior management team. Master lease structures covered 66.8% of annualized base rent; under these structures, a tenant in default at one property is in default across all properties under the same lease. Contractual rent escalation provisions cover 97.9% of leases, averaging 1.8% per year, with only approximately 0.9% tied to CPI adjustments. Texas represented 12.7% of annualized base rent as of December 31, 2025, the portfolio's largest single-state concentration; Florida (7.4%) and Georgia (6.5%) followed. Tenants contributing 17.4% of annualized base rent operated under franchise or license agreements with terms that may expire before the underlying leases, with no notice or cure rights available to EPRT on franchise termination.
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The portfolio's credit quality depends heavily on internal analysis since the vast majority of tenants are unrated; creditworthiness is assessed using Moody's Analytics RiskCalc alongside property-level rent coverage ratios, which averaged 3.6x as of December 31, 2025. Tenant concentration is deliberately constrained: the top 10 tenants contributed 16.5% of annualized base rent and no single tenant exceeded 3.4%. Only 5.2% of annualized base rent expires before January 1, 2031, limiting near-term renewal risk; however, if a franchise or license is terminated before lease expiration, the affected tenant's ability to meet rent obligations could be materially impaired.
See also: Real Estate · REIT - Retail
From Essential Properties Realty Tru's most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-07-26Recent Developments — Essential Properties Realty Tru
Latest news
- NEWS [Form 4] ESSENTIAL PROPERTIES REALTY TRUST, INC. Insider Trading Activity - Stock Titan — Stock Titan neutral
- NEWS Essential Properties Realty Raises 2026 AFFO Guidance - TipRanks — TipRanks positive
- NEWS Essential Properties Q2 core FFO tops consensus, but revenue misses (EPRT:NYSE) - Seeking Alpha — Seeking Alpha positive
- NEWS Essential Properties: Q2 Earnings Snapshot - KVUE — KVUE neutral
- NEWS Earnings Flash (EPRT) Essential Properties Realty Trust, Inc. Posts Q2 AFFO $0.50 per Share, vs. FactSet Est of $0.51 - — marketscreener.com neutral
Generated 2026-07-26T08:02:04Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- LOWGeographicTexas13%10-K Item 1A: 'substantial holdings in the following states as of December 31, 2025 (based on annualized base rent): Texas (12.7%), Florida (7.4%), Georgia (6.5%)'
- LOWCustomerten largest tenants17%10-K Item 1A: 'our ten largest tenants contributed 16.5% of our annualized base rent'
Material Events(8-K, last 90d)
- 2026-05-08Item 5.02LOWAmendment No. 1 to Dec 17, 2025 8-K. CFO Robert W. Salisbury (appointed effective Jan 1, 2026) employment agreement effective May 7, 2026: initial term through May 7, 2030; base salary ≥$475,000; target annual bonus ≥125% of base salary.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
10 dimensions · all in-band
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $32.34, but acceptable to hold if already in. Reason: Thin upside margin: 3.0%. Chart setup: Golden cross, above all MAs, RSI 66, MACD bullish. Maintain position. Not compelling to add more. Target $33.31 (+3.0%), stop $31.02 (−4.3%), A.R:R 0.4:1. Score 6.0/10, moderate confidence.
Take-profit target: $33.31 (+3.0% upside). Target $33.31 (+3.0%), stop $31.02 (−4.3%), A.R:R 0.4:1. Stop-loss: $31.02.
Thin upside margin: 3.0%.
Essential Properties Realty Tru trades at a P/E of 25.1 (forward 23.1). TrendMatrix value score: 4.4/10. Verdict: Hold.
26 analysts cover EPRT with a consensus score of 4.2/5. Average price target: $37.
What does Essential Properties Realty Tru do?Essential Properties Realty Trust acquires and net-leases single-tenant commercial properties to middle-market,...
Essential Properties Realty Trust acquires and net-leases single-tenant commercial properties to middle-market, service-oriented and experience-based businesses across 48 states. As of December 31, 2025, the portfolio had 2,300 properties with $555.0 million in annualized base rent and $7.2 billion in total gross investment; no single tenant exceeded 3.4% of annualized base rent.