EPR PROPERTIES

Listed Company

EPRCIK 0001045450NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$718.36M

Net Income

$274.94M

Total Assets

$5.70B

Equity

$2.33B

Shares Out

76.52M

Op. Cash Flow

$420.95M

Business

EPR PROPERTIES is a self-administered real estate investment trust that acquires, finances and manages experiential real estate venues. It offers long-term triple-net leases and mortgage financing for property types that facilitate out-of-home leisure and recreation experiences, including theatres, eat & play complexes, attractions, ski areas, experiential lodging, fitness and wellness centers, gaming and cultural venues, as well as a legacy portfolio of education properties. The Company reports two segments—Experiential and Education—and focuses on single-tenant and build-to-suit investments. Its properties are located across the United States and in parts of Canada and are distributed through direct leases, mortgage receivables and joint venture arrangements.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating Lease, Lease Income	609	585	616	576	479
Other income	46	57	46	47	19
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	64	56	44	35	34
Revenues, Total	718	698	706	658	532
Property operating expense	59	59	57	56	57
Other expense	46	57	45	34	22
General and Administrative Expense	56	50	56	52	44
Severance expense	3	2	547,000	0	0
Transaction costs	2	798,000	2	5	3
Financing Receivable, Credit Loss, Expense (Reversal)	8	12	878,000	11	−22
Impairment, Long-Lived Asset, Held-for-Use	0	52	67	—	—
Depreciation and amortization	169	166	168	164	164
Costs and Expenses	344	398	397	348	271
Gain (Loss) on Disposition of Assets	40	16	−2	651,000	18
Operating Income	414	316	306	311	279
Costs associated with loan refinancing or payoff	0	337,000	0	0	25
Interest expense, net	133	131	125	131	148
Loss from Equity Method Investments	4	9	7	2	5
Impairment charges on joint ventures	0	28	0	600,000	0
Income from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	277	147	175	177	100
Income Tax Expense	2	1	2	1	2
Net income	275	146	173	176	99
Preferred dividend requirements	24	24	24	24	24
Net Income Available to Common Stockholders, Basic, Total	251	122	149	152	74
Earnings Per Share, Basic	3.3	1.61	1.98	2.03	1
Earnings Per Share, Diluted	3.28	1.6	1.97	2.03	1
Basic	76	76	75	75	75
Diluted	76	76	76	75	75
Foreign currency translation adjustment	13	−23	7	−20	633,000
Unrealized Gain (Loss) on Derivatives	−8	16	−5	12	6
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	280	139	174	168	105

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Real Estate Investment Property, Net	4,494	4,435	4,537	4,714	4,713
Land held for development	20	20	20	20	20
Property under development	55	112	131	76	42
Operating Lease, Right-of-Use Asset	171	173	187	201	181
Financing Receivable, after Allowance for Credit Loss, Current	679	666	570	457	370
Real Estate Investments, Joint Ventures	12	14	50	53	—
Cash and cash equivalents	91	22	78	108	289
Restricted cash	8	14	3	3	1
Accounts receivable	98	85	64	54	78
Other assets	72	75	61	73	70
Total assets	5,700	5,617	5,701	5,759	5,801
Accounts payable and accrued liabilities	99	108	95	80	73
Operating Lease, Liability	205	212	227	241	219
Dividends Payable, Current	22	26	25	21	19
Preferred dividends payable	6	6	6	6	6
Unearned rents and interest	109	81	77	64	62
Debt	2,929	2,860	2,816	2,810	2,804
Liabilities	3,371	3,293	3,247	3,223	3,183
Common Stock, Value, Issued	842,000	836,000	829,000	825,000	822,000
Additional paid-in-capital	3,978	3,951	3,924	3,900	3,877
Treasury Stock, Value	−295	−285	−274	−270	−265
Accumulated Other Comprehensive Income (Loss), Net of Tax	1	−4	3	2	10
Accumulated Distributions in Excess of Net Income	−1,356	−1,339	−1,201	−1,097	−1,005
Equity	2,329	2,323	2,454	2,536	2,618
Liabilities and Equity	5,700	5,617	5,701	5,759	5,801

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	40	16	−2	651,000	18
Deferred income tax benefit (expense)	−846,000	−2	−344,000	−169,000	0
Distributions from joint ventures	11,000	0	1	780,000	90,000
Amortization of deferred financing costs	9	9	9	8	8
Amortization of above and below Market Leases	−324,000	−333,000	−500,000	−400,000	−400,000
Share-based compensation expense to management and trustees	15	14	18	17	15
Increase (Decrease) in Operating Lease Assets and Liabilities, Net	−2	−1	−6,000	463,000	−551,000
Increase Decrease In Mortgage Notes Accrued Interest Receivable	−796,000	−2	−1	−500,000	568,000
Increase (Decrease) in Accounts Receivable	−15	−22	−10	26	37
Increase (Decrease) in Other Operating Assets	−2	−8	−3	−473,000	−1
Increase (Decrease) in Accounts Payable and Accrued Liabilities	−6	12	8	15	−9
Increase (Decrease) in Deferred Revenue	4	−5	8	−3	3
Net Cash Provided by (Used in) Operating Activities, Total	421	393	447	442	307
Acquisition of rental properties and other assets	−152	−46	−61	−175	−57
Proceeds from Sale of Real Estate	141	74	57	11	96
Investment in unconsolidated joint ventures	2	1	5	26	14
Payments for (Proceeds from) Derivative Instrument, Investing Activities	0	−10	−10	4	0
Investment in mortgage notes receivable	−50	−114	−110	−95	−9
Proceeds from mortgage note receivable paydown	28	618,000	552,000	2	8
Investment in promissory notes receivable	0	0	3	0	4
Proceeds from promissory note receivable paydown	1	1	1	701,000	9
Additions to properties under development	−89	−102	−91	−76	−29
Net Cash Provided by (Used in) Investing Activities, Total	−122	−176	−201	−352	2
Proceeds from Issuance of Long-term Debt	1,072	244	0	0	400
Principal payments on long-term debt	−997	−206	0	0	−1,289
Deferred financing fees paid	−12	0	−369,000	−328,000	−15
Proceeds from (Payment for) Other Financing Activity	0	−10	0	0	−23
Net proceeds from issuance of common shares	949,000	816,000	615,000	758,000	460,000
Payment, Tax Withholding, Share-based Payment Arrangement	−1,000	0	0	−11,000	−2,000
Purchase of common shares for treasury	−10	−11	−4	−4	−3
Dividends paid to shareholders	−291	−280	−272	−266	−118
Net Cash Provided by (Used in) Financing Activities, Total	−237	−262	−276	−269	−1,047
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation	403,000	−448,000	119,000	−129,000	−218,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	63	−45	−30	−179	−738
Real Estate Owned, Transfer to Real Estate Owned	136	116	44	42	92
Loan to Lease Conversion	0	6	0	0	—
Transfer of property under development to rental property	0	0	1	0	—
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses	30	21	25	22	22
Remeasurement of right-of-use asset from early ground lease termination	7	0	0	—	—
Remeasurement of lease liability from early ground lease termination	11	0	0	—	—
Fair Value of Assets Acquired	21	0	0	—	—
Lease Obligation Incurred	21	0	0	—	—
Interest Paid, Excluding Capitalized Interest, Operating Activity	131	129	126	126	150
Income Taxes Paid, Net	3	3	1	1	1
Interest Paid, Capitalized, Investing Activity	4	3	4	1	2
Change in Accrued Capital Expenditures	−6	−824,000	6	896,000	3

Filings

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