Essential Properties Realty Trust Inc 2026年季度报告

For the quarterly period ended March31, 2026OR For the transition period fromtoCommission File Number001-38530______________________________________________________________________________________________________ Essential Properties Realty Trust, Inc. (Exact name of Registrant as specified in its Charter)______________________________________________________________________________________________________ 82-4005693 (I.R.S. EmployerIdentification No.) (State or other jurisdiction ofincorporation or organization) 5 Vaughn Drive, Suite 202Princeton, New Jersey(Address of Principal Executive Offices) Registrant’s telephone number, including area code: (609)436-0619______________________________________________________________________________________________________ Securities registered pursuant to Section12(b) of the Act: New York Stock Exchange Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was requiredto submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No As of April 22, 2026, the registrant had 216,245,955 shares of common stock, $0.01 par value per share, outstanding. Table of Contents PART I.FINANCIAL INFORMATIONPageItem 1.Financial StatementsConsolidated Balance Sheets as of March 31, 2026(unaudited) and December 31, 20252Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025(unaudited)3Consolidated Statements of Comprehensive Income for the three months ended March 31, 2026 and2025(unaudited)4Consolidated Statements of Stockholders’ Equity for the three months ended March 31, 2026 and2025(unaudited)5Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025(unaudited)7Notes to Consolidated Financial Statements (unaudited)9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations40Item 3.Quantitative and Qualitative Disclosures About Market Risk64Item 4.Controls and Procedures65 PART II.OTHER INFORMATIONItem 1.Legal Proceedings66Item 1A.Risk Factors66Item 2.Unregistered Sales of Equity Securities and Use of Proceeds66Item 3.Defaults Upon Senior Securities66Item 4.Mine Safety Disclosures66Item 5.Other Information66Item 6.Exhibits67 Signatures68 ESSENTIAL PROPERTIES REALTY TRUST, INC.CONSOLIDATED FINANCIAL STATEMENTSConsolidated Balance Sheets(In thousands, except share and per share data) The accompanying notes are an integral part of these consolidated financial statements. ESSENTIAL PROPERTIES REALTY TRUST, INC.CONSOLIDATED FINANCIAL STATEMENTSConsolidated Statements of Operations ESSENTIAL PROPERTIES REALTY TRUST, INC.CONSOLIDATED FINANCIAL STATEMENTSConsolidated Statements of Comprehensive Income ESSENTIAL PROPERTIES REALTY TRUST, INC.CONSOLIDATED FINANCIAL STATEMENTSConsolidated Statements of Stockholders’ Equity ESSENTIAL PROPERTIES REALTY TRUST, INC.CONSOLIDATED FINANCIAL STATEMENTSConsolidated Statements of Stockholders’ Equity (continued) ESSENTIAL PROPERTIES REALTY TRUST, INC.CONSOLIDATED FINANCIAL STATEMENTSConsolidated Statements of Cash Flows(Unaudited, in thousands) ESSENTIAL PROPERTIES REALTY TRUST, INC.CONSOLIDATED FINANCIAL STATEMENTSConsolidated Statements of Cash Flows (continued)(Unaudited, in thousands) Three months ended March31,(In thousands)20262025Supplemental disclosure of cash flow information:Cash paid for interest, net of amounts capitalized$25,630$25,038Cash paid for income taxes42170Non-cash investing and financing activities:Reclassification from construction in progress upon project completion$17,455$100,490Net settlement of proceeds on the sale of investments—(1,650)Non-cash investment in real estate and loan receivable activity(575)1,650Unrealized gain (loss) on cash flow hedges9,983(18,170)Accrued offering a