Equity Profile

EPRT

Essential Properties Realty Trust, Inc.

Real EstateDiversified REITs$6.8B

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

EPS

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator of financial health.

$0.54

Revenue Growth

Revenue growth is important to assess how well the company is expanding its property portfolio and tenant base.

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 the overall health of the real estate market.

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, surpassing expectations by nearly 15%. However, the stock declined by 2.67% the following day, indicating market skepticism despite the earnings beat.

Management Promises & Guidance

Management has committed to maintaining a strong occupancy rate.
They aim to continue expanding their property portfolio.
Focus on enhancing tenant relationships to ensure long-term leases.

Expectations

Wall Street Expectations

Overall, analysts expect EPRT to report solid earnings, but there is caution in the market due to recent stock performance trends.

Bull Case

If EPRT beats EPS expectations again and shows strong revenue growth, it could signal robust demand for its properties and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could reinforce concerns about market conditions and lead to a further decline in stock price.

Key Metrics to Watch

EPS

$0.54

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator of financial health.

Revenue Growth

N/A

Revenue growth is important to assess how well the company is expanding its property portfolio and tenant base.

Occupancy Rate

N/A

A high occupancy rate indicates strong demand for EPRT's properties and effective management.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate and how does it compare to previous quarters?

Occupancy rates directly impact revenue and profitability, making it a key focus for investors.

What are the company's plans for property acquisitions in the upcoming quarters?

Insights into future acquisitions can indicate growth potential and management's confidence in the market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating EPRT's ability to maintain high occupancy rates despite market challenges, which could lead to better-than-expected earnings.

Supporting Evidence

EPRT has consistently beaten EPS estimates in the past quarters, suggesting strong operational management.

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

Recent trends in consumer spending may favor EPRT's tenant base, supporting occupancy and revenue.

Key Risk

If occupancy rates exceed 95%, it could significantly shift market sentiment and expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will reflect EPRT's ability to navigate a challenging real estate environment.

Bull Confirmed If

A reported EPS of $0.58 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.50 would support the bear case, raising concerns about profitability and market conditions.

Pre-Earnings Positioning

Options Market

Implied Move

±16.43%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant potential move in either direction, indicating uncertainty about 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 and raises guidance, history suggests the stock could rise by around 1.21% on the first day.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience muted movement.

Miss

A miss on earnings could lead to a decline, with historical data suggesting an average drop of around 1.16%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the current occupancy rate and any changes from the previous quarter.
2Management's outlook on property acquisitions and market conditions.
3Any commentary on tenant performance and lease renewals.
4Insights into revenue growth expectations for the upcoming quarters.
5Updates on strategic initiatives to enhance property value.

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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

EPS

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator of financial health.

$0.54

Revenue Growth

Revenue growth is important to assess how well the company is expanding its property portfolio and tenant base.

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, surpassing expectations by nearly 15%. However, the stock declined by 2.67% the following day, indicating market skepticism despite the earnings beat.

Management Promises & Guidance

Management has committed to maintaining a strong occupancy rate.
They aim to continue expanding their property portfolio.
Focus on enhancing tenant relationships to ensure long-term leases.

Expectations

Wall Street Expectations

Overall, analysts expect EPRT to report solid earnings, but there is caution in the market due to recent stock performance trends.

Bull Case

If EPRT beats EPS expectations again and shows strong revenue growth, it could signal robust demand for its properties and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could reinforce concerns about market conditions and lead to a further decline in stock price.

Key Metrics to Watch

EPS

$0.54

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator of financial health.

Revenue Growth

N/A

Revenue growth is important to assess how well the company is expanding its property portfolio and tenant base.

Occupancy Rate

N/A

A high occupancy rate indicates strong demand for EPRT's properties and effective management.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate and how does it compare to previous quarters?

Occupancy rates directly impact revenue and profitability, making it a key focus for investors.

What are the company's plans for property acquisitions in the upcoming quarters?

Insights into future acquisitions can indicate growth potential and management's confidence in the market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating EPRT's ability to maintain high occupancy rates despite market challenges, which could lead to better-than-expected earnings.

Supporting Evidence

EPRT has consistently beaten EPS estimates in the past quarters, suggesting strong operational management.

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

Recent trends in consumer spending may favor EPRT's tenant base, supporting occupancy and revenue.

Key Risk

If occupancy rates exceed 95%, it could significantly shift market sentiment and expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will reflect EPRT's ability to navigate a challenging real estate environment.

Bull Confirmed If

A reported EPS of $0.58 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.50 would support the bear case, raising concerns about profitability and market conditions.

Pre-Earnings Positioning

Options Market

Implied Move

±16.43%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant potential move in either direction, indicating uncertainty about 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 and raises guidance, history suggests the stock could rise by around 1.21% on the first day.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience muted movement.

Miss

A miss on earnings could lead to a decline, with historical data suggesting an average drop of around 1.16%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the current occupancy rate and any changes from the previous quarter.
2Management's outlook on property acquisitions and market conditions.
3Any commentary on tenant performance and lease renewals.
4Insights into revenue growth expectations for the upcoming quarters.
5Updates on strategic initiatives to enhance property value.