Essential Properties Realty Trust, Inc. (EPRT)

Essential Properties Realty Trust, Inc. (EPRT) — VMCI valuation read

Headline read on EPRT: VMCI of 56/100 versus a Real Estate sector median of 50. The 6-point above-median position is what makes Essential Properties Realty Trust, Inc. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on EPRT: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on EPRT: value (EPRT trades at 21.0x earnings, 17% above the Real Estate median of 18.0x), quality (ROIC of 15.0% sits 5.0pp above the Real Estate median (10.0%)), and risk (net debt to EBITDA of 0.0x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Real Estate 12.0x baseline.

EPRT rose 2.1% over the trailing 7 days, with a -10.5% read on a 30-day basis.