Essential Properties Realty Trust hikes dividend by 4.5%
Essential Properties Realty Trust, Inc. (EPRT) will raise its quarterly dividend by another 4.5 percent to $0.23 per share in 2019. This brings the total dividend increase in 2019 to 9.5 percent. Last year the REIT initiated a quarterly dividend.
The next dividend is payable on January 15, 2020 to stockholders of record as of the close of business on December 31, 2019. A new annual rate of 92 cents yields 3.7% at a stock price of $25.
As of September 30, 2019, the Company’s portfolio consisted of 917 freestanding net lease properties with a weighted average lease term of 14.4 years and a weighted average rent coverage ratio of 2.9x. As of the same date, the Company’s portfolio was 100.0% leased to 199 tenants operating 233 different concepts in 16 industries across 45 states (source: Essential Properties press release December 9, 2019).
Essential Properties Realty Trust, Inc. is an internally managed real estate company 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. Essential Properties Realty Trust became a public company in 2018 and paid its first quarterly dividend later that year.
The next dividend is payable on January 15, 2020 to stockholders of record as of the close of business on December 31, 2019. A new annual rate of 92 cents yields 3.7% at a stock price of $25.
As of September 30, 2019, the Company’s portfolio consisted of 917 freestanding net lease properties with a weighted average lease term of 14.4 years and a weighted average rent coverage ratio of 2.9x. As of the same date, the Company’s portfolio was 100.0% leased to 199 tenants operating 233 different concepts in 16 industries across 45 states (source: Essential Properties press release December 9, 2019).
Essential Properties Realty Trust, Inc. is an internally managed real estate company 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. Essential Properties Realty Trust became a public company in 2018 and paid its first quarterly dividend later that year.