Essential Properties Posts Q3 FFO of 51 Cents, Matching Estimates; Revenue Tops Forecasts

Essential Properties Realty Trust Inc. (EPRT) on Wednesday reported third-quarter funds from operations of $111.9 million, or 51 cents per share, matching the average estimate of five analysts surveyed by Zacks Investment Research. The Princeton, New Jersey-based real estate investment trust posted net income of $60.2 million, or 27 cents per share, and revenue of $168.7 million, topping the $168.5 million expected by four analysts. Funds from operations, a closely watched REIT metric, adds back items such as depreciation and amortization to net income. The company guided full-year funds from operations to a range of $2.02 to $2.05 per share.