Equity Profile

EPRT

Essential Properties Realty Trust, Inc.

Real EstateDiversified REITs$6.7B

Jul22Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Essential Properties Realty Trust, Inc. (EPRT) is a real estate investment trust (REIT) that focuses on acquiring and managing properties leased to high-quality tenants....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.54

Revenue Growth

Revenue growth reflects the company's ability to expand its property portfolio and increase rental income, essential for a REIT.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

EPRT Q2-2026 Earnings Preview

Context

Company Snapshot

Essential Properties Realty Trust, Inc. (EPRT) is a real estate investment trust (REIT) that focuses on acquiring and managing properties leased to high-quality tenants. With a market cap of $7 billion, EPRT plays a significant role in the diversified REIT sector, which is influenced by trends in consumer spending and economic conditions.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+11.84%

Avg Stock Reaction

-1.16%

Last Quarter Recap

In Q1 2026, EPRT reported an EPS of $0.54, exceeding expectations by nearly 15%. However, the stock price fell by 2.67% the following day, indicating market skepticism despite the earnings beat.

Management Promises & Guidance

Continue to focus on acquiring high-quality properties.
Maintain strong tenant relationships to ensure high occupancy rates.
Explore opportunities for revenue growth through strategic investments.

Expectations

Wall Street Expectations

Overall, expectations for EPRT's upcoming earnings are mixed, with a focus on profitability and occupancy rates. Investors are keen to see if the company can sustain its earnings growth amid economic fluctuations.

Bull Case

If EPRT reports strong EPS and high occupancy rates, it could indicate robust demand for its properties, leading to a positive market reaction.

Bear Case

Conversely, if occupancy rates decline or EPS falls short of expectations, it may raise concerns about the company's ability to maintain profitability.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.54

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its property portfolio and increase rental income, essential for a REIT.

Occupancy Rate

N/A

A high occupancy rate indicates strong demand for EPRT's properties, which is crucial for maintaining revenue.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rate be for Q2 2026?

Occupancy rates are critical for EPRT's revenue, and any significant change could impact investor sentiment.

How does management plan to sustain or grow EPS in the current economic climate?

Investors will be looking for strategies to maintain profitability amid potential economic challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate EPRT's ability to maintain high occupancy rates, especially in a competitive real estate market. This could lead to a more significant upside if management provides strong guidance.

Supporting Evidence

EPRT has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing in a larger move than historical averages suggest, indicating potential for volatility.

Recent trends in consumer spending may positively impact EPRT's tenant base.

Key Risk

If occupancy rates fall below 90%, it could significantly impact the overall earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers around EPRT's ability to maintain profitability and high occupancy in a changing economic environment.

Bull Confirmed If

An EPS of $0.54 or higher, coupled with an occupancy rate above 95%, would confirm the bull case.

Bear Confirmed If

An EPS below $0.50 or a significant drop in occupancy rates would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±16.43%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings report.

Options are pricing ±16.4% while EPRT has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

17.0%

Calls (100)P/C Ratio: 0.69Puts (500)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Real Estate

n=30

Fade rate: 11 of 30 (37%)

This setup has occurred 30 times across Real Estate in the last 2 years. 19 of 30 (63%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 2.7%, with a raw directional average of +1.0% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If EPRT beats expectations, history suggests the stock could rise by around 1.21% on the first day, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see minimal movement, reflecting cautious investor sentiment.

Miss

A miss could lead to a decline in stock price, with historical patterns suggesting an average drop of around 1.16%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the current occupancy rate and any changes in tenant demand.
2Management's outlook on revenue growth for the upcoming quarters.
3Any commentary on new property acquisitions or divestitures.
4Insights into tenant performance and any potential risks.
5Guidance on how the company plans to navigate economic challenges.

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Company Snapshot

Essential Properties Realty Trust, Inc. (EPRT) is a real estate investment trust (REIT) that focuses on acquiring and managing properties leased to high-quality tenants....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.54

Revenue Growth

Revenue growth reflects the company's ability to expand its property portfolio and increase rental income, essential for a REIT.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

EPRT Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+11.84%

Avg Stock Reaction

-1.16%

Last Quarter Recap

In Q1 2026, EPRT reported an EPS of $0.54, exceeding expectations by nearly 15%. However, the stock price fell by 2.67% the following day, indicating market skepticism despite the earnings beat.

Management Promises & Guidance

Continue to focus on acquiring high-quality properties.
Maintain strong tenant relationships to ensure high occupancy rates.
Explore opportunities for revenue growth through strategic investments.

Expectations

Wall Street Expectations

Bull Case

If EPRT reports strong EPS and high occupancy rates, it could indicate robust demand for its properties, leading to a positive market reaction.

Bear Case

Conversely, if occupancy rates decline or EPS falls short of expectations, it may raise concerns about the company's ability to maintain profitability.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.54

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its property portfolio and increase rental income, essential for a REIT.

Occupancy Rate

N/A

A high occupancy rate indicates strong demand for EPRT's properties, which is crucial for maintaining revenue.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rate be for Q2 2026?

Occupancy rates are critical for EPRT's revenue, and any significant change could impact investor sentiment.

How does management plan to sustain or grow EPS in the current economic climate?

Investors will be looking for strategies to maintain profitability amid potential economic challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

Supporting Evidence

EPRT has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing in a larger move than historical averages suggest, indicating potential for volatility.

Recent trends in consumer spending may positively impact EPRT's tenant base.

Key Risk

If occupancy rates fall below 90%, it could significantly impact the overall earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers around EPRT's ability to maintain profitability and high occupancy in a changing economic environment.

Bull Confirmed If

An EPS of $0.54 or higher, coupled with an occupancy rate above 95%, would confirm the bull case.

Bear Confirmed If

An EPS below $0.50 or a significant drop in occupancy rates would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±16.43%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings report.

Options are pricing ±16.4% while EPRT has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

17.0%

Calls (100)P/C Ratio: 0.69Puts (500)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Real Estate

n=30

Fade rate: 11 of 30 (37%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If EPRT beats expectations, history suggests the stock could rise by around 1.21% on the first day, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see minimal movement, reflecting cautious investor sentiment.

Miss

A miss could lead to a decline in stock price, with historical patterns suggesting an average drop of around 1.16%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the current occupancy rate and any changes in tenant demand.
2Management's outlook on revenue growth for the upcoming quarters.
3Any commentary on new property acquisitions or divestitures.
4Insights into tenant performance and any potential risks.
5Guidance on how the company plans to navigate economic challenges.