S&P moves Essential Properties view to positive

S&P said it changed Essential Properties Realty Trust Inc.’s outlook to positive from stable and affirmed all its ratings, including the BBB- rating on its senior unsecured notes.

“EPRT's operating performance was resilient over the past 18 months, with many metrics now improved from pre-pandemic levels. Same-store rent increased by 1.4% during the third quarter of 2021, the first year-over-year period of growth since the start of the pandemic. Collections have returned to 100% while deferrals that occurred during the pandemic have been collected on schedule,” S&P said in a press release.

The outlook reflects an expectation for continued portfolio growth and solid operating performance, aided by its long-term triple-net leases and high occupancy, the agency said.

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