$EPR (-0,77 %)

Total revenue reached $204.1 million in the third quarter, representing a 12.0% increase from $182.3 million in the same quarter of the previous year. This growth was driven by new investments, higher rental and interest income, and improved portfolio performance. Adjusted Funds From Operations (FFO) per share rose 8.8% year-over-year, from $1.37 to $1.49, while adjusted Funds From Operations (AFFO) per share increased by 10.8% from $1.39 to $1.54.

Strategic Portfolio Expansion

The third quarter marked a significant milestone in EPR’s diversification strategy: the company made its first investments in two new categories that expand its entertainment portfolio beyond traditional theater properties.

EPR invested $172.4 million in the third quarter at an average initial yield of approximately 8.3%, bringing year-to-date investment spending to $664.5 million. The quarter brought two firsts for EPR: the company’s first investment in a live performance venue—Live Nation’s Steelhead venue in Portland, Oregon—and its first acquisition of a LifeTime fitness center in Irvine, California.

With gross investments totaling $7.6 billion across 350 properties, 99% of EPR’s portfolio is leased or operated. The experiential real estate portfolio accounts for 96% of the annual base rent across 296 properties with 61 operators, while the educational facilities portfolio generates 4% of annual base rent across 54 properties with four operators and has a 100% occupancy rate.

The company raised its forecast for adjusted FFO per share to $5.49 to $5.57, representing an 8.0% increase over the prior year (previous forecast: $5.41 to $5.57). The forecast for capital expenditures was raised from $600 million to $700 million to $675 million to $725 million. This reflects the strong project pipeline and the successful implementation of the diversification strategy.

The forecast for percentage rent and profit sharing has been raised from $18.5 million to $22.5 million to $21.5 million to $24.5 million, reflecting the stronger performance of the theater and attractions.

$EPR (-0,77 %)

The Kansas City-based REIT, which specializes in experiential real estate such as theaters, attractions, fitness centers, and entertainment venues, reported significant year-over-year growth in key operating metrics while announcing a substantial increase in both capital expenditures and its full-year earnings forecast.

EPR Properties posted strong second-quarter results with total revenue of $196.1 million, representing a 10.1% increase from $178.1 million in the same quarter a year ago. The company’s presentation highlighted the growth in adjusted funds from operations (FFO), which rose 12.7% year-over-year from $1.26 to $1.42 per share.

Adjusted funds from operations (AFFO) per share rose 15.3% in the second quarter of 2025 to $1.43, compared with $1.24 in the same quarter a year earlier. However, net income per share fell by 13.2% to $0.79, compared to $0.91 in the same quarter a year ago.

The second quarter marked a peak in EPR’s investment activity since the start of the COVID pandemic. The company invested $440.8 million with an average initial yield of approximately 8.5%. Capital expenditures year-to-date totaled $492.2 million, significantly exceeding the company’s original annual target.

The company’s investment strategy focused on diversifying away from theater properties, which now account for about one-third of the portfolio, compared to a higher proportion in the past. Notable acquisitions during the quarter included seven previously announced Six Flags attractions, two additional attractions, a golf club, and a hot spring.

Of particular note is the addition of Netflix $NFLX (-0,33 %) as a new tenant through EPR’s acquisition of Netflix House Philadelphia, an investment-grade company that transforms digital content into immersive, physical experiences. This transaction underscores the company’s strategic focus on experiential real estate that combines digital and physical entertainment.

The experiential dining portfolio now accounts for 95% of gross investments and comprises 291 properties and 57 operators, while the education portfolio accounts for 5% with 55 properties and five operators.

Revised Forecast & Outlook

Based on strong first-half results and a solid investment pipeline, EPR has raised both its capital expenditure and earnings forecasts for the full year 2026.

The company raised its forecast for adjusted FFO per share to $5.41 to $5.57, representing 7.2% year-over-year growth. The previous forecast was $5.37 to $5.53, representing 6.5% growth.

More importantly, however, EPR has raised its capital expenditure target for 2026 from $500 million to $600 million to $600 million to $700 million. According to management, this reflects a strong pipeline of unmarketed investment opportunities generated through direct relationships.

$EPR (-0,77 %)

EPR Properties reported strong financial results for the first quarter of 2026, beating Wall Street expectations. The real estate investment trust (REIT) reported earnings per share (EPS) of $0.74, beating the consensus forecast of $0.66, a positive surprise of 12.12%. Revenue also beat estimates, coming in at $181.3 million versus the expected $150.34 million, a 20.56% surprise.

Business development of the company

EPR Properties showed a robust business performance in the first quarter of 2026 with year-on-year growth in key financial metrics. The company's Adjusted Funds from Operations (FFO) per share increased by 5.9% to $1.26, while Adjusted Funds from Operations (AFFO) per share increased by 6.6% to $1.29.

Outlook & Forecast

EPR Properties has revised its forecast for 2026 upwards. Adjusted FFO per share is now expected to be in a range of $5.37 to $5.53, up from $5.28 to $5.48 previously. The company also raised its capital expenditure guidance to between $500 million and $600 million, reflecting a strategic focus on acquisitions rather than development.

Portfolio update

The Company's total assets were $5.7 billion (after accumulated depreciation and amortization of approximately $1.8 billion) and total capital expenditures (a non-GAAP financial measure) were $7.1 billion as of March 31, 2026, with capital expenditures in the Experiential Projects segment of $6.7 billion, or 94%, and capital expenditures in the Education segment of $0.4 billion, or 6%.

The company's experiential real estate portfolio (excluding properties under development, undeveloped land and two joint venture properties) comprised the following property types (owned or financed) as at March 31, 2026

148. theater properties;

61. hotels and venues (including seven. theaters in entertainment districts);

26. attractive properties;

11. ski properties;

4. adventure accommodations;

28 fitness and wellness facilities;

one casino;

1 cultural asset.

As of March 31, 2026, the Company's wholly-owned experiential portfolio comprised approximately 19.2 million square feet, was 99% leased or operated and included a total of $23.4 million of real estate under development and $20.2 million of undeveloped land.

The Company's education portfolio included the following property types (owned or financed) as of March 31, 2026:

46 early childhood education center facilities; and

nine private school campuses.

As at March 31, 2026, the Company's wholly owned education portfolio comprised approximately 1.1 million square feet and was 100% leased.

The entire wholly owned portfolio comprised 20.3 million square feet and was 99% leased or self-operated.

• EPR Properties ($EPR (-0,77 %) ) declares a monthly dividend of $0.31 per share, an increase of over 5% from the previous dividend of $0.295.
• Yield 6.375%
• Payable on April 15, for shareholders of record on March 21, ex-date March 21.

Hi

Does anyone have an idea why the technicals on TradingView differ so much from the general analyst ratings that you usually find?

I currently have around 2500 available, which I either leave at 4% at TR or prefer to put into his Reit or BDC at 6% and then just leave there.

Regardless of whether $O (-0,34 %)
$VICI (-0,46 %)
$ARCC (+0,94 %)
$EPR (-0,77 %) the technicals are all Sell, while the analysts see upside potential in all of them.

Ultimately I wouldn't care, the money should be there, but I'm also well up on Main and Ares.

Happy Easter

Small purchase

Here are 5 stocks that pay a dividend every month. 💸

Anyone who wants can take a closer look at them:

1. realty income, div: 4.16%

2. Gladstone Commercial, Div: 6,85%

3. LTC Properties, Div: 6.74%

4. EPR Properties, Div: 6.28

5. Transalta Renawables, Div: 4.78%

I myself am only invested in Realty Income and I think I will stay away from other monthly payers for now.

What do you guys think about monthly payers?

$RNW
$EPR (-0,77 %)
$LTC (+1,52 %)
$GOOD (+0,24 %)
$O (-0,34 %)