Essential Properties Realty Trust, Inc. (NYSE: EPRT) recently announced the election of Ms. Kristin L. Smallwood to its board of directors. With this addition, the board now consists of eight members, seven of whom are independent.
Ms. Smallwood brings with her nearly 30 years of experience, having served as a partner at PricewaterhouseCoopers (PwC) until her retirement in 2025. During her time at PwC, she led the US automotive assurance sector for four years and worked with numerous publicly traded audit clients. Her expertise lies in corporate governance, financial analysis, audit matters, compliance with SEC requirements, and public reporting.
In terms of Essential Properties Realty Trust's portfolio, as of March 31, 2025, the company owned 2,138 freestanding net lease properties across 49 states, with a remarkable 99.7% lease rate. The weighted average lease term stood at 14.0 years, and the weighted average rent coverage ratio was reported at 3.5x. Additionally, the portfolio was 99.7% leased to tenants operating 604 different concepts across 49 states.
Ms. Smallwood's extensive background and commitment to strong corporate governance are expected to enhance stockholder value, contributing to the company's continued growth and success. Her appointment reflects Essential Properties Realty Trust's dedication to bringing diverse expertise to its board, ensuring the company remains well-positioned for the future. The market has reacted to these announcements by moving the company's shares 0.16% to a price of $30.54. If you want to know more, read the company's complete 8-K report here.
