Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial . One of the things I love to do when I'm bored is browse websites that offer commercial properties for sale. The net lease properties are especially interesting, as tenants are responsible for insurance, taxes, and maintenance. Analyst's Disclosure: I/we have no stock, option or ...

Article Overview - The article discusses the author's experience with dividend investing and their coverage of Essential Properties Realty Trust (EPRT) on Seeking Alpha [1] - The author emphasizes the importance of dividend investing as a path to financial freedom and shares insights from their professional background in finance, M&A, and business valuation [1] Author's Background and Expertise - The author is a finance professional with deep experience in M&A and business valuation, having evaluated numerous businesses and participated in sell-side and buy-side transactions [1] - Their expertise spans sectors such as tech, real estate, software, finance, and consumer staples, which form the core of their personal investment portfolio and coverage on Seeking Alpha [1] Dividend Investing Philosophy - Dividend investing is highlighted as a straightforward and accessible way to achieve financial freedom, with the author sharing their personal journey and insights to make the process more approachable for others [1] - The author's motivation for writing on Seeking Alpha is to deepen their own knowledge and share value with others pursuing similar financial goals [1] Disclosure and Position - The author holds a beneficial long position in EPRT through stock ownership, options, or other derivatives [2] - The article reflects the author's personal opinions and is not influenced by compensation or business relationships with the mentioned companies [2] General Disclaimer - The article does not constitute investment advice or recommendations, and the author owns other REITs such as ADC, O, and NNN [3] - Seeking Alpha's disclosure clarifies that the platform and its analysts are not licensed securities dealers, brokers, or investment advisers, and the views expressed may not reflect those of Seeking Alpha as a whole [3]

FOTOGRAFIA INC./E+ via Getty Images One of the good alternatives for investing in retail REITs is Essential Properties Realty Trust (NYSE:EPRT), a retail REIT that focuses on mid-market properties in the experience and services sectors and has some differences when compared to its more famous and larger market cap peers such as Realty Income Corp. (O) or NNN REIT (NNN). The main difference is that EPRT focuses on smaller tenants, most of which are not investment grade. At first glance, this might put some i ...

IvelinRadkov My initial bull thesis on Essential Properties Realty Trust, Inc. (NYSE:EPRT) was circulated back in September 2023. At the time, the P/FFO multiple of 13x seemed just too low given the robust balance sheet, ample liquidity, and conservative cash flows. My view was that by opening a position in EPRT, investors would access sizeable returns from price appreciation on top of an attractive and well-supported dividend of ~5%. In the total return performance chart below, we can see how EPRT has deli ...

ttp 0.00 ... . III f11photo Data by YCharts Introduction Guess what? Real estate is back! All three major real estate ETFs are up more than 20% over the past 12 months. This is entirely caused by the rally that started in April, as we can see in the chart below. On the one hand, this is fantastic news, as I have discussed many REIT opportunities this year. In general, real investors are in a great spot again. On the other hand, it's not very easy to find bargains anymore, as valuations have increased substa ...

Ibrahim Akcengiz The outbreak of COVID-19 and subsequent change in the monetary policy from extremely accommodative to restrictive had caused a significant pain in the equity REIT markets. By being forced to stay at home for a prolonged period, the work-from-home dynamic strengthened, leading to a structurally impaired demand for many office buildings. Similarly, the retail segment has become less attractive since the temporary closure of brick and mortar stores during the COVID-19 period provided a strong ...

DNY59 Overview The real estate sector (XLRE) continues to be one of the worst performing asset classes since the initial pandemic drop in 2020. The embracing of remote work changed the sentiment around demand for real estate and this was coupled with aggressive interest rate hikes throughout 2022 and 2023. As a result, the sector severely underperformed the rest of the market indexes like the S&P 500 (SPY). However, I believe that the outlook has drastically improved and we can look forward to interest rate ...

jetcityimage Introduction I've previously covered many companies that have significant real estate assets that are often non-core to their business (often as a hidden source of value). Often times, these may be regular brick and mortar businesses with a restaurant or warehouse operations where they happen to own the real estate upon which their primary business sits on. For these companies, being involved in the real estate business isn't their main focus. As the prices of land rises over time, many compani ...

FX Empire Logo English check-icon Italiano Español Português Deutsch العربية Français Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial ...

Financial Data and Key Metrics Changes - The company reiterated its AFFO per share guidance range of $1.72 to $1.75 for 2024, indicating a strong operational performance [4][41] - AFFO per share for Q2 2024 was $0.43, a 5% increase compared to Q2 2023, with total AFFO reaching $77.1 million, up 25% year-over-year [12][41] - General and administrative expenses (G&A) increased to $8.7 million in Q2 2024 from $7.6 million in Q2 2023, but G&A as a percentage of total revenue improved to 5.6% from 6.1% [13] Business Line Data and Key Metrics Changes - The company ended the quarter with investments in 2009 properties, 99.8% leased to 395 tenants across 16 industries, with a weighted average lease term of 14.1 years [4] - Same-store rent growth was 1.4% in Q2 2024, slightly down from the previous quarter, impacted by properties affected by the Red Lobster bankruptcy [4] Market Data and Key Metrics Changes - The company invested $334 million through 35 transactions in Q2 2024, maintaining a weighted average cash yield of 8%, consistent with the previous quarter and up 60 basis points year-over-year [8] - The investment pipeline remains solid, with expectations of modest cap rate compression later in the year due to potential Fed easing [9] Company Strategy and Development Direction - The company aims to maintain a well-capitalized balance sheet with low leverage and significant liquidity to support external growth, with pro forma net debt to annualized adjusted EBITDAre at 3.8x [16] - The focus remains on sale-leaseback transactions, which constitute 80% to 90% of the portfolio, as they provide a higher value-added way to deploy capital [78] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business prospects, highlighting strong tenant credit trends and investment volumes, despite short-term headwinds from conservative leverage posture [32] - The competitive landscape is expected to normalize as interest rates decline, which may lead to increased competition and downward pressure on lease terms and cap rates [81][95] Other Important Information - The company recognized $1.5 million of other income related to a legal settlement, which was included in AFFO for the quarter [36] - A cash dividend of $0.29 was declared, representing an AFFO payout ratio of 67% [37] Q&A Session Summary Question: Why not raise the AFFO guidance? - Management indicated that while performance is strong, the capital position poses a headwind, limiting visibility to raise guidance [44] Question: Details on acquisition guidance and pipeline? - The pipeline is ahead of last year, but timing variability affects closings, making it hard to forecast [26] Question: Will the company issue forward equity to lock in current share prices? - Management is open to being opportunistic with equity issuance but is currently well-funded [54] Question: How does the company view tenant categories amid consumer weakness? - The company remains focused on service and experience-based industries, which are less affected by consumer spending fluctuations [104] Question: What is the outlook for cap rates and competition? - Management expects some downward pressure on cap rates as competition normalizes with rate cuts [95][141]