REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-10-21 — Q3 FY2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
EPRT's Q3 2026 total revenue rose 16% to $168.7M, driven by rental revenue growth from a larger portfolio, though an impairment charge of $15.0M and higher interest expense pressured net income to $60.7M.
Biggest Revenue Drivers
Rental revenue$157.8M+15.5% YoY
Driven primarily by growth in the real estate investment portfolio, which grew by 298 rental properties since September 30, 2025.
Interest on loans and direct financing lease receivables$10.5M+28.9% YoY
Primarily due to the increase in the mortgage loans receivable portfolio during 2026.
Biggest Revenue Drivers
Total revenue: $168.7M+16% YoY
Rental revenue$157.8M+15.5% YoY
Driven primarily by growth in the real estate investment portfolio, which grew by 298 rental properties since September 30, 2025.
Interest on loans and direct financing lease receivables$10.5M+28.9% YoY
Primarily due to the increase in the mortgage loans receivable portfolio during 2026.
Other revenue, net$0.4M+64.8% YoY
Primarily due to non-recurring loan prepayment fees and other fees received.
Largest Expense Items
Depreciation and amortization$46.9M+20.4% YoY
Increased in proportion to the increase in the size of the real estate investment portfolio.
General and administrative$14.1M+38.2% YoY
Primarily due to an increase in professional fees and non-cash share-based compensation.
Provision for impairment of real estate$15.0M+944.6% YoY
Impairment charges recorded on eight real estate investments during the quarter.
Margins: Income from operations rose modestly to $94.5M, but net income declined to $60.7M from $65.8M as interest expense increased $5.9M and impairment charges rose. The filing does not provide explicit margin guidance.
Watch Items from the Filing
Provision for impairment of real estate was $15.0M in the quarter versus $1.4M a year earlier, recorded on eight investments.
Texas accounted for 13.3% of rental revenue in the quarter, the only state above the 10% concentration threshold.
Revolving credit facility balance rose to $491.0M, with $61.0M of borrowings not hedged against floating-rate exposure.
Occupancy was 99.6% and weighted average unit-level rent coverage was 3.5x, indicating a healthy tenant base.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
1 transaction in EPRT reported by 1 member of Congress under the STOCK Act, most recent trade Jul 12, 2023. Reported transactions, not recommendations.
About ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT): stock profile, AI score and financials
ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores EPRT at 72.5/100 on a composite quality score built from its SEC filings, placing it at rank #4 of 148 stocks — the top 5% of the AI-ranked universe. Based on the latest XBRL financial filings (Q3 2026), ESSENTIAL PROPERTIES REALTY TRUST, INC. reports quarterly revenue of $168.7M, net income of $60.2M, an operating margin of 56.0%. Top institutional holders of EPRT by reported 13-F value include BlackRock, COHEN & STEERS, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. EPRT trades on the NYSE exchange and files with the SEC under CIK 1728951. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate EPRT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for ESSENTIAL PROPERTIES REALTY TRUST, INC. directly from SEC EDGAR.