Essential Properties Realty Trust (EPRT) Announces 8M Share Public Offering of Common Stock
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Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 4%
Revenue Growth %: +14.3%
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Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that it has commenced an underwritten public offering of 8,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock. The Company expects to use the net proceeds from the offering for general corporate purposes, including potential future investments. All of the shares are being offered by the Company.
BofA Securities, Barclays and Citigroup are acting as the joint book-running managers of the offering.
The offering of the common stock is being made pursuant to the Company’s effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”).
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