Essential Properties Q3 AFFO per share rises, lifts 2026 outlook

Overview

• US net lease REIT's Q3 rental revenue rose year-over-year

• Q3 AFFO per share rose 6% year-over-year

• Company raised 2026 AFFO guidance and issued 2027 outlook

Outlook

• Company raises 2026 AFFO guidance to $2.02-$2.05 per share

• Essential Properties sees 2027 AFFO per share at $2.10-$2.18

• Company raises 2026 investment volume guidance to $1.3 bln-$1.5 bln

Result Drivers

• INVESTMENT ACTIVITY - Co said Q3 results were supported by investment momentum and portfolio performance, per CEO Pete Mavoides

• BALANCE SHEET FLEXIBILITY - Co said strong capital position enabled execution of investment pipeline

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the diversified reits peer group is "buy"

• Wall Street's median 12-month price target for Essential Properties Realty Trust, Inc. is $37.00, about 43.6% above its October 20 closing price of $25.76

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 22 three months ago

Reuters Recommended Reads

• Oct 20 - Agree Realty Q3 net income per share up 18.5%; raises FY26 AFFO guidance

• Oct 21 - Real estate investment trust UDR raises 2026 outlook

• Oct 20 - Equity LifeStyle Q3 revenue beats estimates on rental income growth, occupancy gains

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)