ESSENTIAL PROPERTIES REALTY TRUST INC
For the period ended Dec 31, 2024. Filed Feb 12, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 12, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| (In thousands, except share and per share data) | 2024 | 2023 |
| ASSETS | ||
| Investments: | ||
| Real estate investments, at cost: | ||
| Land and improvements | $1,865,610 | $1,542,302 |
| Building and improvements | 3,536,000 | 2,938,012 |
| Lease incentives | 17,903 | 17,890 |
| Construction in progress | 153,789 | 96,524 |
| Intangible lease assets | 94,047 | 89,209 |
| Total real estate investments, at cost | 5,667,349 | 4,683,937 |
| Less: accumulated depreciation and amortization | (476,827) | (367,133) |
| Total real estate investments, net | 5,190,522 | 4,316,804 |
| Loans and direct financing lease receivables, net | 352,066 | 223,854 |
| Real estate investments held for sale, net | 10,018 | 7,455 |
| Net investments | 5,552,606 | 4,548,113 |
| Cash and cash equivalents | 40,713 | 39,807 |
| Restricted cash | 4,265 | 9,156 |
| Straight-line rent receivable, net | 143,435 | 107,545 |
| Derivative assets | 27,714 | 30,980 |
| Rent receivables, prepaid expenses and other assets, net | 29,949 | 32,660 |
| Total assets(1) | $5,798,682 | $4,768,261 |
| LIABILITIES AND EQUITY | ||
| Unsecured term loans, net of deferred financing costs | $1,721,114 | $1,272,772 |
| Senior unsecured notes, net | 396,403 | 395,846 |
| Revolving credit facility | — | — |
| Intangible lease liabilities, net | 10,700 | 11,206 |
| Dividend payable | 55,608 | 47,182 |
| Derivative liabilities | 7,585 | 23,005 |
| Accrued liabilities and other payables | 35,145 | 31,248 |
| Total liabilities(1) | 2,226,555 | 1,781,259 |
| Commitments and contingencies (see Note 11) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.01 par value; 150,000,000 authorized; none issued and outstanding as of December 31, 2024 and 2023 | — | — |
| Common stock, $0.01 par value; 500,000,000 authorized; 187,537,592 and 164,635,150 issued and outstanding as of December 31, 2024 and 2023, respectively | 1,875 | 1,646 |
| Additional paid-in capital | 3,658,219 | 3,078,459 |
| Distributions in excess of cumulative earnings | (113,302) | (105,545) |
| Accumulated other comprehensive income | 16,886 | 4,019 |
| Total stockholders' equity | 3,563,678 | 2,978,579 |
| Non-controlling interests | 8,449 | 8,423 |
| Total equity | 3,572,127 | 2,987,002 |
| Total liabilities and equity | $5,798,682 | $4,768,261 |
(1)The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs"). See Note 2—Summary of Significant Accounting Policies. As of December 31, 2024 and 2023, all of the assets and liabilities of the Company were held by its operating partnership, a consolidated VIE, with the exception of $55.4 million and $47.0 million, respectively, of dividends payable.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.