Essential Properties Realty Trust, Inc. (NYSE:EPRT) Q3 2022 Results Conference Call October 28, 2022 11:00 AM ET
Company Participants
Daniel Donlan - Senior Vice President and Head of Capital Markets
Peter Mavoides - President and Chief Executive Officer
Mark Patten - Chief Financial Officer
Conference Call Participants
RJ Milligan - Raymond James
Wendy Ma - Evercore
Haendel St. Juste - Mizuho
Greg McGinniss - Scotiabank
Joshua Dennerlein - Bank of America
John Massocca - Ladenburg Thalmann
Chris Lucas - Capital One Securities
Operator
Good morning, ladies and gentlemen. And welcome to Essential Properties Realty Trust Third Quarter 2022 Earnings Conference Call. [Operator Instructions]
This conference call is being recorded and a replay of the call will be available two hours after the completion of the call for the next few weeks. The dial-in details for the replay can be found in yesterday's press release. Additionally, there will be an audio webcast available on Essential Properties website at www.essentialproperties.com and archive of which will be available for 90-days.
It is now my pleasure to turn the call over to Dan Donlan, Senior Vice President and Head of Capital Markets at Essential Properties. Thank you, sir. Please go ahead.
Daniel Donlan
Thank you, operator, and good morning, everyone. We appreciate you joining us today for Essential Properties third quarter 2022. Here with me today to discuss our operating results are Peter Mavoides, our President and CEO and Mark Patten, our CFO.
During this conference call, we will make certain statements that may be considered forward-looking statements on our Federal Securities Law. Company's actual future results may differ significantly from the matters discussed in these forward-looking statements. But may not, these revisions, these forward-looking statements reflect changes as the statements were made. That could cause actual results to differ materially from expectations are disclosed from time-to-time in greater detail in the company’s filings with the SEC and in yesterday’s earnings press release.
With that, Pete, please go ahead.
Peter Mavoides
Thank you, Dan. And thank you to everyone who is joining us today for your interest in Essential Properties. As our third quarter results indicate, our portfolio continues to perform at a high level with record level unit level coverage of 4.2 times. Same-store rent growth of 1.7% and just three vacant properties.
This strong performance is a testament to our disciplined underwriting process, the resiliency of our service oriented and experience based tenancy and our consistent recycling of capital out of weak performing properties.