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EX - 99.1 2 exhibit991q32021.htm EX - 99.1 ESSENTIAL PROPERTIES Essential Properties Announces Third Quarter 2021 Results Third Quarter Net Income per Share of $ 0.23 and AFFO per Share of $ 0.33- - - Closed Investments of $ 230.8 million at a 7.0 % Weighted Average Cash Cap Rate - - Issues 2022 AFFO Guidance of $ 1.46 to $ 1.50 per Share - Exhibit 99.1 November 1 , 2021 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 nine months ended September 30 , 2021 . Third Quarter 2021 Financial and Operating Highlights Operating Results ( compared to Third Quarter 2020 ) : • Investments ( 85 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 ATM Program $ Invested Weighted Avg Cash Cap Rate $ 230.8 million 7.0 % Increased by 77 % $ 0.23 Increased by 38 % $ 0.36 Increased by 33 % $ 0.36 Increased by 22 % $ 0.33 $ 30.51 / share $ 102.6 million Year to Date 2021 Financial and Operating Highlights Operating Results ( compared to YTD Third Quarter 2020 ) : Investments ( 253 properties ) Net Income per share • FFO per share • Core FFO per share • AFFO per share Equity Activity : • Equity Raised - Follow - On Offering ( April 15 , 2021 ) $ Invested Weighted Avg Cash Cap Rate $ 651.8 million 7.0 % Increased by 46 % $ 0.57 Increased by 81 % $ 0.98 Increased by 82 % $ 1.02 Increased by 73 % $ 0.97 • Equity Raised - ATM Program $ 23.50 / share $ 27.15 / share $ 193.2 million $ 182.5 million Debt Activity : • Initial Public Debt Offering ( June 22 , 2021 ) • Full Retirement of Secured Master Trust Funding Notes 10 years ; 2.95 % coupon 4.19 % wtd . avg . coupon $ 400.0 million $ 171.2 million Highlights Subsequent to Third Quarter 2021 • Investments ( 22 properties ) • Dispositions ( 2 properties ) Equity Activity : • Equity Raised ATM Program $ Invested $ Gross Proceeds $ 47.1 million $ 4.6 million $ 28.53 / share $ 6.0 million