# ESSENTIAL PROPERTIES REALTY TRUST, INC.

Summary updated: 2026-10-02T16:24:01.323905Z
Canonical: https://finbar.com/research/companies/essential-properties-realty-trust-inc

## Overview

Essential Properties Realty Trust, Inc. is a real estate investment trust focused on acquiring, owning, and managing commercial properties leased primarily to service-oriented and experience-based businesses under long-term net leases. Its tenants span categories such as restaurants, car washes, automotive and medical services, convenience stores, entertainment, fitness, and early-childhood education. [1](https://app.finbar.com/go?id=P142164885)[2](https://essentialproperties.com/about-us/)

The company’s stated primary objective is to maximize stockholder value through attractive risk-adjusted returns. Its portfolio is concentrated in the United States: as of June 30, 2026, the company reported rental properties across 48 states and tenants operating 715 concepts. [3](https://app.finbar.com/go?id=P142164873)[1](https://app.finbar.com/go?id=P142164885)

At June 30, 2026, the company reported 2,329 rental properties and $6.6 billion of net real estate investments. For fiscal 2025, total revenue was approximately $561 million, including approximately $528 million in rental revenue. [4](https://app.finbar.com/go?id=P142165071)[5](https://app.finbar.com/go?id=T2880086)
[1](https://app.finbar.com/go?id=P142164885)[2](https://essentialproperties.com/about-us/)[3](https://app.finbar.com/go?id=P142164873)[4](https://app.finbar.com/go?id=P142165071)[5](https://app.finbar.com/go?id=T2880086)[5](https://app.finbar.com/go?id=T2880086)[2](https://essentialproperties.com/about-us/)

## Products & services

Essential Properties Realty Trust’s core product is the ownership and leasing of primarily freestanding, single-tenant commercial properties, generally under long-term triple-net leases. Its portfolio spans service-oriented businesses, experience-based businesses, industrial properties and retail, with service and experience-based properties together accounting for 91.6% of annualized base rent (ABR) as of June 30, 2026. Typical lease features include an initial term of 15 years or more, renewal options and contractual rent increases; the portfolio’s weighted-average remaining lease term was 14.3 years at that date. [6](https://app.finbar.com/go?id=P142164871)[1](https://app.finbar.com/go?id=P142164885)[7](https://app.finbar.com/go?id=P59877978)[8](https://app.finbar.com/go?id=P142164907)

The largest property categories by ABR at June 30, 2026 included car washes (12.6%), medical and dental properties (12.2%), early-childhood education (11.9%), automotive service (8.3%), quick-service restaurants (8.2%), convenience stores (6.3%) and casual dining (5.6%). Other holdings include equipment rental and sales, family dining, pet care, entertainment, health and fitness, movie theaters, industrial uses, grocery stores and home furnishings. [9](https://app.finbar.com/go?id=P142165013)

The company’s leasing and property portfolio services are structured around tenant relationships and property-level lease performance: it seeks rent coverage and tenant financial reporting, and prefers master leases when multiple properties can be leased together. At June 30, 2026, 97.1% of ABR was subject to future rent increases, averaging 1.9% annually; weighted-average rent coverage was 3.5x, and tenants on leases representing 99.2% of ABR were obligated to provide periodic unit-level financial reporting. [8](https://app.finbar.com/go?id=P142164907)[10](https://app.finbar.com/go?id=P142164882)
[6](https://app.finbar.com/go?id=P142164871)[1](https://app.finbar.com/go?id=P142164885)[7](https://app.finbar.com/go?id=P59877978)[8](https://app.finbar.com/go?id=P142164907)[9](https://app.finbar.com/go?id=P142165013)[10](https://app.finbar.com/go?id=P142164882)

## Geographic presence

As of June 30, 2026, Essential Properties Realty Trust’s portfolio comprised 2,493 properties across 48 U.S. states, generating $604.9 million in annualized base rent; its tenants operated 715 concepts [1](https://app.finbar.com/go?id=P142164885). In 2025, Texas was the only state accounting for at least 10% of rental revenue, at 12.5% [11](https://app.finbar.com/go?id=T5469525).

The company lists its office at 5 Vaughn Drive, Suite 202, Princeton, New Jersey 08540 [12](https://essentialproperties.com/contact/).
[1](https://app.finbar.com/go?id=P142164885)[11](https://app.finbar.com/go?id=T5469525)[12](https://essentialproperties.com/contact/)

## Business segments

Essential Properties Realty Trust reports one operating and reportable segment, aggregating its real estate investments and assessing performance on a consolidated basis. It does not report separate business segments or segment-level contribution percentages. [13](https://app.finbar.com/go?id=P142164452)

As a portfolio—not segment—breakdown, its Q2 2026 tenant-industry disclosure allocates annualized base rent (ABR) as follows: Service, 76.9%; Experience, 14.7%; Industrial, 5.9%; and Retail, 2.5%. These categories describe the businesses operating at its properties, rather than reportable segments. [14](https://app.finbar.com/go?id=T16253801) The company’s portfolio is primarily single-tenant, long-term net-leased properties, and 91.6% of ABR came from properties operated by service-oriented or experience-based businesses. [6](https://app.finbar.com/go?id=P142164871)
[13](https://app.finbar.com/go?id=P142164452)[14](https://app.finbar.com/go?id=T16253801)[14](https://app.finbar.com/go?id=T16253801)[14](https://app.finbar.com/go?id=T16253801)[14](https://app.finbar.com/go?id=T16253801)[6](https://app.finbar.com/go?id=P142164871)

## Company history

Essential Properties Realty Trust’s operating predecessor began operations on March 30, 2016. The public-company issuer was incorporated in Maryland on January 12, 2018. [15](https://app.finbar.com/go?id=P183664987)[16](https://app.finbar.com/go?id=P183665030)

In June 2018, the company completed its initial public offering and began trading on the New York Stock Exchange under the ticker EPRT. [16](https://app.finbar.com/go?id=P183665030)[17](https://investors.essentialproperties.com/news/essential-properties-realty-trust-inc-announces-pricing-of-initial-public-offering/a183e43b-acb7-4116-afdc-03b560a08c31) Peter Mavoides, who had held leadership roles at the predecessor since March 2016, became the public company’s president and chief executive officer in 2018. [2](https://essentialproperties.com/about-us/)

The company reported reaching 1,000 properties by the end of 2019, following investment in 375 properties that year. [18](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-and-full-year-2019-results/d9d934dc-71d3-48c5-a424-e24b30cba457) Its portfolio grew to 1,653 properties by the end of 2022 and 2,104 by the end of 2024. [19](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-2022-results/ec7c8124-0a90-402b-aae2-6eca8c185f74)[20](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-2024-results/91488787-b80e-4fab-a2ff-8c86cb326b29)
[15](https://app.finbar.com/go?id=P183664987)[16](https://app.finbar.com/go?id=P183665030)[17](https://investors.essentialproperties.com/news/essential-properties-realty-trust-inc-announces-pricing-of-initial-public-offering/a183e43b-acb7-4116-afdc-03b560a08c31)[2](https://essentialproperties.com/about-us/)[18](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-and-full-year-2019-results/d9d934dc-71d3-48c5-a424-e24b30cba457)[19](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-2022-results/ec7c8124-0a90-402b-aae2-6eca8c185f74)[20](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-2024-results/91488787-b80e-4fab-a2ff-8c86cb326b29)

## Sources

1. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142164885)
2. [essentialproperties.com](https://essentialproperties.com/about-us/)
3. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142164873)
4. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142165071)
5. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T2880086)
6. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142164871)
7. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P59877978)
8. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142164907)
9. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142165013)
10. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142164882)
11. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T5469525)
12. [essentialproperties.com](https://essentialproperties.com/contact/)
13. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P142164452)
14. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16253801)
15. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2018 Y)](https://app.finbar.com/go?id=P183664987)
16. [ESSENTIAL PROPERTIES REALTY TRUST, INC. — Full financial report (2018 Y)](https://app.finbar.com/go?id=P183665030)
17. [investors.essentialproperties.com](https://investors.essentialproperties.com/news/essential-properties-realty-trust-inc-announces-pricing-of-initial-public-offering/a183e43b-acb7-4116-afdc-03b560a08c31)
18. [investors.essentialproperties.com](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-and-full-year-2019-results/d9d934dc-71d3-48c5-a424-e24b30cba457)
19. [investors.essentialproperties.com](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-2022-results/ec7c8124-0a90-402b-aae2-6eca8c185f74)
20. [investors.essentialproperties.com](https://investors.essentialproperties.com/news/essential-properties-announces-fourth-quarter-2024-results/91488787-b80e-4fab-a2ff-8c86cb326b29)

AI-generated summary; may contain errors. Not investment advice. Sign up to Finbar to view original document sources and access worldwide fundamental financial data and intelligence.