Essential Properties drops on planned stock sale

Essential Properties Realty Trust

18/03/2025 20:48

** Shares of Essential Properties Realty Trust EPRT.N down 2.4% at $31 in extended trading as co plans equity raise

** Princeton, New Jersey-based commercial net-lease REIT commences 8 mln share offering on forward sale basis

** Co to enter into 18-mth forward sales agreements with jt bookrunners Wells Fargo and BofA Secs

** Upon settlement of such agreements, co to use net proceeds for general purposes, including potential future investments

** Co has ~187.7 mln shares outstanding giving it ~$6 bln market cap, per LSEG data

** EPRT shares on Tues closed down 0.4% at $31.75. Stock up 1.5% YTD and up ~25% over the past 12 months

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))