The following is a summary of the Essential Properties Realty Trust, Inc. (EPRT) Q1 2024 Earnings Call Transcript:
Financial Performance:
Essential Properties Realty Trust reported a 5% AFFO per share growth achieved from $249 million of investments in Q1 2024.
The 2024 AFFO per share guidance has been revised to range between $1.72 and $1.75, suggesting over 5% growth at midpoint.
The corporation anticipates approaching $6 billion in income-producing gross assets later this year.
Business Progress:
A majority (87%) of the company's investments were generated from existing relationships.
Despite a volatile market, the company maintains a strategic focus on serving existing relationships and establishing new, long-term relationships.
The company's future strategy also includes managing and reducing industry and tenant concentrations by selling overexposed assets.
More details: Essential Properties Realty Trust Inc IR
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