Oct 30, 5:32 PM ET
On October 30, 2026, Essential Properties, L.P., a subsidiary of Essential Properties Realty Trust, issued $517.5 million of senior unsecured exchangeable notes, including $67.5 million from the full exercise of the initial purchasers' option. The notes mature on January 15, 2032, and are exchangeable into the company's common stock at an initial price of about $30.88 per share, with the issuer able to settle in cash, shares, or a combination. For shareholders, this adds significant debt and could lead to future share issuance if the notes are exchanged.
- Aggregate principal of $517.5 million, including $67.5 million from the full exercise of the initial purchasers' option
- 4.375% annual interest, paid semi-annually on January 15 and July 15, beginning July 15, 2027; maturity January 15, 2032
- Initial exchange rate of 32.3860 shares per $1,000 principal, or about $30.88 per share
- Registration rights agreement requires a resale registration statement to become effective within 180 days
Read the filing on SEC.gov ↗
Oct 21, 4:44 PM ET
Essential Properties Realty Trust reported third quarter 2026 results on October 21, 2026. Total revenues rose to $168.7 million from $144.9 million, while diluted net income per share fell to $0.27 from $0.33 and AFFO per share rose 6% to $0.51. The company raised its 2026 AFFO per share guidance and issued 2027 AFFO guidance of $2.10 to $2.18 per share.
- Q3 2026 diluted net income per share was $0.27, down from $0.33 a year earlier; AFFO per share was $0.51, up 6%
- Q3 2026 total revenues were $168.7 million, compared with $144.9 million in Q3 2025
- 2026 AFFO per share guidance was raised to $2.02 to $2.05; 2026 investment volume guidance was raised to $1.3 billion to $1.5 billion
- 2027 AFFO per share guidance was issued at $2.10 to $2.18
Read the filing on SEC.gov ↗
Sep 16, 5:15 PM ET
On September 14, 2026, Essential Properties Realty Trust and its operating partnership signed an eighth amendment to their Amended and Restated Credit Agreement with Wells Fargo as administrative agent. The amendment raises revolving commitments from $1.0 billion to $1.3 billion, lowers margin pricing, and resets the accordion feature, and the company repaid and terminated its Capital One credit agreement in connection with it. The filing does not give a financial impact beyond these terms.
- Revolving Credit Facility commitments increase from $1.0 billion to $1.3 billion, per the amendment dated September 14, 2026.
- Margin grid pricing for the Revolving Credit Facility and term loans is reduced.
- Accordion feature reset to permit $700.0 million of availability.
- Obligations under the Capital One Credit Agreement were repaid in full and that agreement was terminated; Subsidiary Guarantors were released from their guarantee obligations.
Read the filing on SEC.gov ↗
Sep 9, 4:17 PM ET
Essential Properties Realty Trust promoted Chief Operating Officer R. Max Jenkins to President and Chief Operating Officer, expanded Robert W. Salisbury's role to include Chief Strategy Officer, and named Craig Vachris Chief Investment Officer after A Joseph Peil's employment ended September 8, 2026. CEO Peter M. Mavoides continues in his role and signed a new employment agreement, which matters to shareholders because it reshapes the senior team that runs investments and strategy.
- Jenkins appointed President and Chief Operating Officer; Mavoides remains Chief Executive Officer, with amended employment agreements effective September 8, 2026 running through March 31, 2031
- Jenkins and Salisbury received promotion grants of long-term incentive plan units with a target grant date value of $2,000,000, vesting 50% at three and four years
- Craig Vachris, with more than 20 years of commercial real estate and net lease experience, named Executive Vice President and Chief Investment Officer
- Peil's employment ended September 8, 2026, and he is eligible for severance for a termination without cause
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.