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EX - 99.1 2 exhibit991q22021.htm EX - 99.1 Exhibit 99.1 July 28 , 2021 ESSENTIAL PROPERTIES Essential Properties Announces Second Quarter 2021 Results - Second Quarter Net Income per Share of $ 0.20 and AFFO per Share of $ 0.34 - - Completed Initial Public Debt Offering of $ 400 million 2.950 % Senior Notes due 2031 - - Increases 2021 AFFO Guidance to $ 1.30 to $ 1.32 per Share - PRINCETON , N.J .-- ( BUSINESS WIRE ) -- Essential Properties Realty Trust , Inc. ( NYSE : EPRT ; “ Essential Properties ” or the " Company " ) today announced operating results for the three and six months ended June 30 , 2021 . Second Quarter 2021 Financial and Operating Highlights Operating Results ( compared to Second Quarter 2020 ) : • Investments ( 94 properties ) Net Income per share • Funds from Operations ( " FFO " ) per share • Core Funds from Operations ( " Core FFO " ) per share • Adjusted Funds from Operations ( " AFFO " ) per share Equity Activity : Equity Raised - Follow - On Offering ( April 15 , 2021 ) Equity Raised - ATM Program Debt Activity : Initial Public Debt Offering ( June 22 , 2021 ) • Full Retirement of Secured Master Trust Funding Notes Year to Date 2021 Financial and Operating Highlights Operating Results ( compared to YTD Second Quarter 2020 ) : • Investments ( 168 properties ) • Net Income per share • FFO per share • Core FFO per share • AFFO per share Equity Activity : . • Equity Raised - ATM Program $ Invested Weighted Avg Cash Cap Rate $ 223.2 million 7.1 % Increased by 82 % $ 0.20 Increased by 23 % $ 0.32 Increased by 30 % $ 0.35 Increased by 26 % $ 0.34 $ 23.50 / share $ 26.67 / share $ 193.2 million $ 15.0 million 10 years ; 2.95 % coupon 4.19 % wtd . avg . coupon $ 400.0 million $ 171.2 million $ Invested Weighted Avg Cash Cap Rate $ 421.0 million 7.1 % Increased by 31 % $ 0.34 Increased by 11 % $ 0.62 Increased by 14 % $ 0.66 Increased by 11 % $ 0.64 $ 23.79 / share $ 79.9 million Highlights Subsequent to Second Quarter 2021 • Investments ( 20 properties ) • Dispositions ( 9 properties ) Equity Activity : • Equity Raised ATM Program $ Invested $ 53.0 million $ Gross Proceeds $ 6.3 million $ 27.63 / share $ 7.6 million