Essential Properties Launches $750M At-the-Market Equity Program
EPRT is trading near its 52-week low of $28.95 (12% above the low).
Summary
Essential Properties Realty Trust has entered into a new at-the-market equity offering program for up to $750 million of common stock. The program provides flexibility to raise capital opportunistically, with shares sold at prevailing market prices. This follows a strong Q2 where the company raised its full-year AFFO guidance and deployed $332.4 million in acquisitions. The ATM replaces a prior facility and supports the company's acquisition-driven growth strategy. The offering size represents a modest portion of the $7.05 billion market cap, and the impact will depend on the pace and pricing of sales.
At the time of this announcement, EPRT was trading at $32.34 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $7.1B. The 52-week trading range was $28.95 to $34.73. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.