$EPRT
Essential Properties Realty Trust Inc

2018 Q4 Form 10-Q Financial Statement

#000156459018026645 Filed on November 05, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $28.65M $25.74M $17.50M
YoY Change 63.71% 89.56%
Cost Of Revenue $760.0K $490.0K $470.0K
YoY Change 61.7% 25.64%
Gross Profit $27.89M $25.25M $17.04M
YoY Change 63.67% 91.43%
Gross Profit Margin 97.35% 98.09% 97.37%
Selling, General & Admin $3.890M $3.530M $2.330M
YoY Change 66.95% 50.85%
% of Gross Profit 13.95% 13.98% 13.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.510M $8.760M $6.280M
YoY Change 35.51% 70.1%
% of Gross Profit 30.51% 34.69% 36.85%
Operating Expenses $12.40M $12.30M $8.600M
YoY Change 44.19% 64.22%
Operating Profit $15.49M $7.078M $8.440M
YoY Change 83.53% 1312.77%
Interest Expense -$6.510M $6.563M -$7.390M
YoY Change -11.91% 3.89%
% of Operating Profit -42.03% 92.72% -87.56%
Other Income/Expense, Net $6.750M
YoY Change
Pretax Income $8.350M $7.733M $6.850M
YoY Change 21.9% 1407.41%
Income Tax $50.00K $26.00K -$30.00K
% Of Pretax Income 0.6% 0.34% -0.44%
Net Earnings $5.780M $5.324M $6.880M
YoY Change -15.99% 919.92%
Net Earnings / Revenue 20.17% 20.68% 39.31%
Basic Earnings Per Share $0.12
Diluted Earnings Per Share $91.69K $0.12 $113.8K
COMMON SHARES
Basic Shares Outstanding 43.75M 42.36M
Diluted Shares Outstanding 61.47M

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.200M $73.30M
YoY Change
Cash & Equivalents $4.236M $73.27M $7.250M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $14.30M $11.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $18.50M $84.50M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.272B $1.198B
YoY Change
Goodwill
YoY Change
Intangibles $52.78M $52.28M $53.02M
YoY Change -0.46%
Long-Term Investments
YoY Change
Other Assets $19.70M $6.900M
YoY Change
Total Long-Term Assets $1.362B $1.270B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $18.50M $84.50M
Total Long-Term Assets $1.362B $1.270B
Total Assets $1.381B $1.355B $942.2M
YoY Change 46.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.900M $6.600M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.10M $20.70M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $540.1M $507.5M
YoY Change
Other Long-Term Liabilities $11.60M $11.90M
YoY Change
Total Long-Term Liabilities $551.7M $519.4M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $18.10M $20.70M
Total Long-Term Liabilities $551.7M $519.4M
Total Liabilities $569.9M $540.1M $760.8M
YoY Change -25.1%
SHAREHOLDERS EQUITY
Retained Earnings -$7.659M $0.00
YoY Change
Common Stock $431.0K $431.0K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $562.2M $564.5M
YoY Change
Total Liabilities & Shareholders Equity $1.381B $1.355B $942.2M
YoY Change 46.56%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $5.780M $5.324M $6.880M
YoY Change -15.99% 919.92%
Depreciation, Depletion And Amortization $8.510M $8.760M $6.280M
YoY Change 35.51% 70.1%
Cash From Operating Activities $17.14M $15.20M $6.170M
YoY Change 177.8% 130.65%
INVESTING ACTIVITIES
Capital Expenditures -$103.4M -$126.6M -$159.9M
YoY Change -35.33% -9.27%
Acquisitions
YoY Change
Other Investing Activities $13.28M $11.97M $17.59M
YoY Change -24.5% -38.08%
Cash From Investing Activities -$90.12M -$114.6M -$142.3M
YoY Change -36.66% -4.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.15M 33.44M 129.2M
YoY Change -88.27% -74.17%
NET CHANGE
Cash From Operating Activities 17.14M 15.20M 6.170M
Cash From Investing Activities -90.12M -114.6M -142.3M
Cash From Financing Activities 15.15M 33.44M 129.2M
Net Change In Cash -57.83M -65.95M -6.960M
YoY Change 730.89% -515.3%
FREE CASH FLOW
Cash From Operating Activities $17.14M $15.20M $6.170M
Capital Expenditures -$103.4M -$126.6M -$159.9M
Free Cash Flow $120.5M $141.8M $166.0M
YoY Change -27.41% -2.96%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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eprt Payments For Investment In Construction In Progress
PaymentsForInvestmentInConstructionInProgress
14307000
eprt Payments For Investment In Construction In Progress
PaymentsForInvestmentInConstructionInProgress
4026000
eprt Payments For Lease Incentives
PaymentsForLeaseIncentives
269000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
759000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
323000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-371739000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-322089000
eprt Proceeds From Notes Payable To Related Parties
ProceedsFromNotesPayableToRelatedParties
154000000
eprt Proceeds From Notes Payable To Related Parties
ProceedsFromNotesPayableToRelatedParties
412000000
eprt Repayments Of Notes Payable To Related Parties
RepaymentsOfNotesPayableToRelatedParties
313000000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
248100000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
5875000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
3751000
eprt Payments For Proceeds From Debt Issuance Costs And Refunds
PaymentsForProceedsFromDebtIssuanceCostsAndRefunds
5565000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
464182000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2395000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
397607000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
320262000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
54650000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14468000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19430000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11922000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74080000
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26390000
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20047000
CY2017Q3 us-gaap Restricted Cash
RestrictedCash
6343000
us-gaap Interest Paid Net
InterestPaidNet
22093000
us-gaap Interest Paid Net
InterestPaidNet
13772000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
48000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3000
eprt Reclassification From Construction In Progress Upon Project Completion
ReclassificationFromConstructionInProgressUponProjectCompletion
14451000
eprt Non Cash Equity Contributions
NonCashEquityContributions
17308000
us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
17308000
eprt Noncash Contribution Of Predecessor Equity In Exchange For Operating Partnership Units
NoncashContributionOfPredecessorEquityInExchangeForOperatingPartnershipUnits
236130000
eprt Noncash Payable And Accrued Initial Public Offering Costs
NoncashPayableAndAccruedInitialPublicOfferingCosts
3083000
eprt Underwriters Discount On Capital Raised Through Initial Public Offering
UnderwritersDiscountOnCapitalRaisedThroughInitialPublicOffering
29629000
eprt Noncash Payable And Accrued Deferred Financing Costs
NoncashPayableAndAccruedDeferredFinancingCosts
271000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Reclassification</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Certain amounts previously reported in the consolidated financial statements have been reclassified in the accompanying consolidated financial statements to conform to the current period&#8217;s presentation to change the presentation of Gain on dispositions of real estate, net on the consolidated statement of operations and comprehensive income for the three and nine months ended September 30, 2017. The Company has presented Gain on dispositions of real estate, net as a component of Income from operations in order to present gain and losses on dispositions of properties in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (ASC) 360-10-45-5. This change in presentation was made for the prior periods as the SEC has eliminated Rule 3-15(a) of Regulation S-X, which previously had required the Company to present gain and losses on sale of properties outside of continuing operations in the income statement.</p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p></div>
CY2018Q3 eprt Percentage Of Ownership Interest In Operating Partnership
PercentageOfOwnershipInterestInOperatingPartnership
0.697
CY2018Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
0
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
0
CY2018Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
73000000
CY2017Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
7000000
CY2018Q3 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
200000
CY2017Q3 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
200000
us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
900000
us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
900000
CY2018Q3 eprt Capitalized Offering Costs
CapitalizedOfferingCosts
35100000
CY2017Q4 eprt Capitalized Offering Costs
CapitalizedOfferingCosts
1300000
eprt Percentage Of Taxable Income Require To Reit
PercentageOfTaxableIncomeRequireToREIT
0.90
CY2018Q3 eprt Provision For Income Tax
ProvisionForIncomeTax
0
CY2018Q3 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2017Q3 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2018Q3 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2017Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q2 us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
one-for-one basis
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2482000
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
155000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
155000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5169000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5392000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7552000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7874000
CY2018Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
43056044
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
42928750
CY2018Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
691290
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
691290
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42237460
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61342278
CY2018Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
634
CY2018Q3 eprt Number Of Property Development In Progress
NumberOfPropertyDevelopmentInProgress
2
CY2018Q3 eprt Number Of Real Estate Properties Undeveloped Land Parcels
NumberOfRealEstatePropertiesUndevelopedLandParcels
1
CY2018Q3 eprt Number Of Mortgage Loans Receivable
NumberOfMortgageLoansReceivable
2
CY2018Q3 eprt Number Of Additional Properties Secured For Mortgage Loan Receivable
NumberOfAdditionalPropertiesSecuredForMortgageLoanReceivable
11
CY2018Q3 us-gaap Number Of Real Estate Properties Fee Simple
NumberOfRealEstatePropertiesFeeSimple
621
CY2018Q3 eprt Number Of Real Estate Properties Direct Financing Receivables
NumberOfRealEstatePropertiesDirectFinancingReceivables
5
CY2018Q3 eprt Number Of Ground Lease Interests
NumberOfGroundLeaseInterests
13
CY2017Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
508
CY2017Q4 eprt Number Of Property Development In Progress
NumberOfPropertyDevelopmentInProgress
2
CY2018Q3 eprt Number Of Real Estate Subject To Direct Financing Leases
NumberOfRealEstateSubjectToDirectFinancingLeases
1
CY2018Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1307249000
CY2018Q3 eprt Aggregate Carrying Amount Of Loans And Direct Financing Lease Receivable
AggregateCarryingAmountOfLoansAndDirectFinancingLeaseReceivable
13000000
CY2018Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1400000
CY2018Q3 eprt Number Of Investments
NumberOfInvestments
349
CY2018Q3 us-gaap Investments
Investments
622300000
CY2017Q3 eprt Number Of Investment Locations
NumberOfInvestmentLocations
431
CY2017Q4 eprt Number Of Investment Locations
NumberOfInvestmentLocations
508
eprt Number Of Acquisitions And Additions To Real Investment Locations
NumberOfAcquisitionsAndAdditionsToRealInvestmentLocations
165
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
402190000
CY2017Q4 eprt Number Of Real Estate Properties Undeveloped Land Parcels
NumberOfRealEstatePropertiesUndevelopedLandParcels
2
CY2017Q4 us-gaap Number Of Real Estate Properties Fee Simple
NumberOfRealEstatePropertiesFeeSimple
493
CY2017Q4 eprt Number Of Real Estate Properties Direct Financing Receivables
NumberOfRealEstatePropertiesDirectFinancingReceivables
5
CY2017Q4 eprt Number Of Ground Lease Interests
NumberOfGroundLeaseInterests
15
CY2017Q4 eprt Number Of Real Estate Subject To Direct Financing Leases
NumberOfRealEstateSubjectToDirectFinancingLeases
1
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
939072000
CY2017Q4 eprt Aggregate Carrying Amount Of Direct Financing Lease Receivable
AggregateCarryingAmountOfDirectFinancingLeaseReceivable
2700000
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4200000
CY2017Q4 eprt Number Of Investments
NumberOfInvestments
348
CY2017Q4 us-gaap Investments
Investments
620000000
eprt Number Of Acquisitions Represented More Than Five Percentage Of Investment Activity
NumberOfAcquisitionsRepresentedMoreThanFivePercentageOfInvestmentActivity
0
eprt Number Of Properties Acquired
NumberOfPropertiesAcquired
165
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Land
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
125519000
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
253754000
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Construction In Progress
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgress
14307000
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Lease Assets
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleLeaseAssets
8609000
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Lease Liabilities
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleLeaseLiabilities
1047000
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
1047000
CY2018Q3 eprt Recognized Identifiable Assets Acquired And Liabilities Assumed Net
RecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
401143000
eprt Investments Fee Interest Ownership
InvestmentsFeeInterestOwnership
fee interest
CY2018Q3 eprt Number Of Properties Acquired Fee Interest
NumberOfPropertiesAcquiredFeeInterest
164
CY2018Q3 eprt Number Of Properties Acquired Subject To Ground Lease Arrangement
NumberOfPropertiesAcquiredSubjectToGroundLeaseArrangement
1
eprt Capitalized Interest Expense
CapitalizedInterestExpense
200000
CY2016Q4 eprt Number Of Investment Locations
NumberOfInvestmentLocations
344
eprt Number Of Acquisitions And Additions To Real Investment Locations
NumberOfAcquisitionsAndAdditionsToRealInvestmentLocations
122
eprt Number Of Investment Locations Sold In Real Estate And Direct Financing Lease Receivables
NumberOfInvestmentLocationsSoldInRealEstateAndDirectFinancingLeaseReceivables
35
eprt Number Of Investment Locations Sold In Real Estate
NumberOfInvestmentLocationsSoldInRealEstate
37
eprt Number Of Investment Locations Relinquishment Of Properties At End Of Ground Lease Term
NumberOfInvestmentLocationsRelinquishmentOfPropertiesAtEndOfGroundLeaseTerm
2
CY2018Q3 eprt Number Of Investment Locations
NumberOfInvestmentLocations
634
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
458667000
eprt Acquisitions And Additions To Real Estate Investments
AcquisitionsAndAdditionsToRealEstateInvestments
375277000
eprt Sales Of Investments In Real Estate And Direct Financing Lease Receivables
SalesOfInvestmentsInRealEstateAndDirectFinancingLeaseReceivables
35194000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
1510000
eprt Principal Collections On Direct Financing Lease Receivables
PrincipalCollectionsOnDirectFinancingLeaseReceivables
61000
eprt Other Real Estate Investments Adjustments
OtherRealEstateInvestmentsAdjustments
631000
CY2017Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
796548000
CY2017Q3 eprt Real Estate Investment Property Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortization
19551000
CY2017Q3 eprt Net Investments In Real Estate Related Assets
NetInvestmentsInRealEstateRelatedAssets
776997000
eprt Acquisitions And Additions To Real Estate Investments
AcquisitionsAndAdditionsToRealEstateInvestments
403218000
eprt Sales Of Investments In Real Estate
SalesOfInvestmentsInRealEstate
-38174000
eprt Investments In Relinquishment Of Properties At End Of Ground Lease Term
InvestmentsInRelinquishmentOfPropertiesAtEndOfGroundLeaseTerm
-853000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
3566000
eprt Investments In Loans Receivable
InvestmentsInLoansReceivable
10379000
eprt Principal Collections On Direct Financing Lease Receivables
PrincipalCollectionsOnDirectFinancingLeaseReceivables
55000
eprt Other Real Estate Investments Adjustments
OtherRealEstateInvestmentsAdjustments
2772000
CY2018Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
31400000
CY2017Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
11600000
eprt Intangible Lease Liability
IntangibleLeaseLiability
40000
eprt Intangible Lease Liability
IntangibleLeaseLiability
100000
CY2018Q3 eprt Number Of Loan Receivable Agreements Secured
NumberOfLoanReceivableAgreementsSecured
3
CY2017Q3 eprt Number Of Loan Receivable Agreements Secured
NumberOfLoanReceivableAgreementsSecured
0
CY2017Q4 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
4518000
CY2017Q4 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
270000
CY2018Q3 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
1878000
CY2018Q3 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
10400000
CY2018Q3 eprt Loans Receivable Gross Carrying Amount
LoansReceivableGrossCarryingAmount
10379000
eprt Mortgage Property Ground Lease Agreement Renewal Term
MortgagePropertyGroundLeaseAgreementRenewalTerm
15-year
eprt Amortization Schedule Of Loan Receivable Under Development Construction Agreement
AmortizationScheduleOfLoanReceivableUnderDevelopmentConstructionAgreement
P40Y
CY2018Q3 eprt Loans Receivable Principal Payments Due Year Two
LoansReceivablePrincipalPaymentsDueYearTwo
5756000
CY2018Q3 eprt Loans Receivable Principal Payments Due Year Three
LoansReceivablePrincipalPaymentsDueYearThree
9000
CY2018Q3 eprt Loans Receivable Principal Payments Due Year Four
LoansReceivablePrincipalPaymentsDueYearFour
2386000
CY2018Q3 eprt Loans Receivable Principal Payments Due Year Five
LoansReceivablePrincipalPaymentsDueYearFive
11000
CY2018Q3 eprt Loans Receivable Principal Payments Due Year Thereafter
LoansReceivablePrincipalPaymentsDueYearThereafter
2217000
CY2018Q3 eprt Aggregate Carrying Amount Of Direct Financing Lease Receivable
AggregateCarryingAmountOfDirectFinancingLeaseReceivable
2700000
CY2018Q3 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
4278000
CY2017Q4 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
2063000
CY2018Q3 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
2670000
CY2018Q3 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
270000
CY2017Q4 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
2725000
CY2018Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
80000
CY2018Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
332000
CY2018Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
337000
CY2018Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
340000
CY2018Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
345000
CY2018Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
2844000
CY2018Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
4278000
eprt Real Estate Investments Transfers To Held For Sale
RealEstateInvestmentsTransfersToHeldForSale
0
eprt Real Estate Investments Transfers From Held For Sale
RealEstateInvestmentsTransfersFromHeldForSale
0
CY2017Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0
CY2017Q4 eprt Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
3
eprt Number Of Real Estate Properties Transfers To Held For Sale
NumberOfRealEstatePropertiesTransfersToHeldForSale
12
eprt Number Of Real Estate Properties Held For Sale Sold
NumberOfRealEstatePropertiesHeldForSaleSold
13
CY2018Q3 eprt Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
2
CY2017Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
4173000
eprt Real Estate Investments Transfers To Held For Sale
RealEstateInvestmentsTransfersToHeldForSale
14487000
eprt Real Estate Cost Of Real Estate Properties Held For Sale Sold
RealEstateCostOfRealEstatePropertiesHeldForSaleSold
17253000
CY2018Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
1407000
eprt Intangible Lease Liabilities Transfers To Held For Sale
IntangibleLeaseLiabilitiesTransfersToHeldForSale
256000
eprt Intangible Lease Liabilities Held For Sale Sold
IntangibleLeaseLiabilitiesHeldForSaleSold
385000
CY2017Q4 eprt Real Estate Held For Sale Net
RealEstateHeldForSaleNet
4044000
eprt Real Estate Investments Transfers To Held For Sale Net
RealEstateInvestmentsTransfersToHeldForSaleNet
14231000
eprt Real Estate Cost Of Real Estate Properties Held For Sale Sold Net
RealEstateCostOfRealEstatePropertiesHeldForSaleSoldNet
16868000
CY2018Q3 eprt Real Estate Held For Sale Net
RealEstateHeldForSaleNet
1407000
CY2018Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
64542000
CY2018Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
12258000
CY2018Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
52284000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
62453000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9432000
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
53021000
CY2018Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
14808000
CY2018Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
2923000
CY2017Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
14824000
CY2017Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
2503000
eprt Finite Lived Intangible Liabilities Remaining Amortization Period
FiniteLivedIntangibleLiabilitiesRemainingAmortizationPeriod
P15Y10M24D
eprt Finite Lived Intangible Assets And Liabilities Remaining Amortization Period
FiniteLivedIntangibleAssetsAndLiabilitiesRemainingAmortizationPeriod
P11Y4M24D
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2117000
CY2017Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1253000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5260000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3698000
CY2016Q4 eprt Number Of Special Purpose Entities Formed To Hold Assets And Issue Secured Borrowings
NumberOfSpecialPurposeEntitiesFormedToHoldAssetsAndIssueSecuredBorrowings
2
CY2017Q3 eprt Number Of Special Purpose Entities Formed To Hold Assets And Issue Secured Borrowings
NumberOfSpecialPurposeEntitiesFormedToHoldAssetsAndIssueSecuredBorrowings
1
CY2018Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
517060000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
522900000
CY2018Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9600000
CY2017Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11300000
us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
If the Company does not meet these repayment schedules, the base interest rates on the notes increase by the greater of (i) 5.00% and (ii) the amount by which the sum of the following exceeds the base interest rates on the notes: (a) the yield to maturity of 10-year U.S. treasury securities in November 2021, plus (b) 5.00%, plus (c) 2.73% for the Series A Notes or 3.70% for the Class B Notes. Additionally, in this event, the full amount of any tenant rental payments received on the assets transferred to the securitization would be used to repay principal.
CY2018Q3 eprt Percentage Of Increase In Base Interest Rate Upon Non Repayment Of Schedules
PercentageOfIncreaseInBaseInterestRateUponNonRepaymentOfSchedules
0.0500
CY2018Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0500
CY2018Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
5600000
CY2017Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
5400000
us-gaap Interest Expense Debt
InterestExpenseDebt
16900000
us-gaap Interest Expense Debt
InterestExpenseDebt
11700000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1940000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8009000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8419000
CY2017Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
8840
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
9340
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
11050
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
2210
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Discount For Postvesting Restrictions
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions
0.30
us-gaap Lessor Operating Lease Lease Not Yet Commenced Existence Of Option To Extend
LessorOperatingLeaseLeaseNotYetCommencedExistenceOfOptionToExtend
false
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
267558000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
4292000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
226842000
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.224
CY2018Q3 eprt Operating Partnership Distributions Per Share Declared
OperatingPartnershipDistributionsPerShareDeclared
0.224
eprt Direct Capital Contributions
DirectCapitalContributions
288600000
eprt Indirect Capital Contributions
IndirectCapitalContributions
163100000
CY2017Q1 eprt Additional Indirect Capital Contributions
AdditionalIndirectCapitalContributions
17300000
CY2017Q1 us-gaap Share Price
SharePrice
1000
CY2017Q1 eprt Compound Interest Rate Percentage Liquidation Preference
CompoundInterestRatePercentageLiquidationPreference
0.08
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
500
CY2018Q1 eprt Additional Direct Equity Contribution
AdditionalDirectEquityContribution
50000000
CY2018Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
50000000
CY2018Q3 eprt Percentage Of Ownership Interest In Operating Partnership Excluding General Partner Interest
PercentageOfOwnershipInterestInOperatingPartnershipExcludingGeneralPartnerInterest
0.687
us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
one-for-one basis
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
2310
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
7030
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.20
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.45
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.40
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0233
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0143
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0130
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Discount For Postvesting Restrictions
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions
0.25
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Discount For Postvesting Restrictions
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions
0.25
CY2018Q1 us-gaap Lessor Operating Lease Lease Not Yet Commenced Term Of Contract1
LessorOperatingLeaseLeaseNotYetCommencedTermOfContract1
P7Y
CY2018Q1 eprt Lessor Operating Lease Lease Not Yet Commenced Number Of Renewal Options
LessorOperatingLeaseLeaseNotYetCommencedNumberOfRenewalOptions
2
CY2018Q1 us-gaap Lessor Operating Lease Lease Not Yet Commenced Renewal Term1
LessorOperatingLeaseLeaseNotYetCommencedRenewalTerm1
P5Y
CY2018Q1 eprt Operating Lease Estimated Commencement Date
OperatingLeaseEstimatedCommencementDate
2018-12-15
CY2018Q1 eprt Operating Lease Rent Commencement Date
OperatingLeaseRentCommencementDate
2019-01-01
CY2018Q1 eprt Annual Operating Lease Base Rent Due
AnnualOperatingLeaseBaseRentDue
500000
CY2018Q1 eprt Annual Escalations In Base Rent Per Square Foot Per Year
AnnualEscalationsInBaseRentPerSquareFootPerYear
0.50
CY2018Q3 eprt Lessee Operating Lease Number Of Real Estate Properties Leased
LesseeOperatingLeaseNumberOfRealEstatePropertiesLeased
13
CY2017Q4 eprt Lessee Operating Lease Number Of Real Estate Properties Leased
LesseeOperatingLeaseNumberOfRealEstatePropertiesLeased
15
CY2018Q3 eprt Lessee Operating Lease Ground Leased Properties Direct Obligation
LesseeOperatingLeaseGroundLeasedPropertiesDirectObligation
5
CY2018Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2017Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
200000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
400000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
500000
eprt Lessee Operating Lease Number Of Ground Leased Properties With No Rent Escalation
LesseeOperatingLeaseNumberOfGroundLeasedPropertiesWithNoRentEscalation
9
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
281000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1378000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1082000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1011000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
996000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1775000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6523000
CY2018Q3 eprt Operating Lease Remaining Future Commitments For Construction Financing To Tenants
OperatingLeaseRemainingFutureCommitmentsForConstructionFinancingToTenants
1300000
eprt Number Of Properties Provided For Construction Financing
NumberOfPropertiesProvidedForConstructionFinancing
1
eprt Properties Secured By The Mortgage Note For Purchase
PropertiesSecuredByTheMortgageNoteForPurchase
9
us-gaap Defined Contribution Plan Plan Name
DefinedContributionPlanPlanName
401(k) Plan
CY2018Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
8200000
CY2018Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
14000
eprt Reimbursement To Tenants For Construction Finance
ReimbursementToTenantsForConstructionFinance
5200000
eprt Number Of Property For Development
NumberOfPropertyForDevelopment
3
CY2017Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
13000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000

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