Home Featured EPR Properties’ Q1 Results Show Record Revenues

EPR Properties’ Q1 Results Show Record Revenues

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Total revenue was $155 million for the first quarter of 2018, representing a 20% increase from $129.1 million for the same quarter in 2017. According to company president and CEO, Greg Silvers, that number means that the REIT has achieved “record revenues” and have increased its earnings guidance for the year.

“We are also effectively executing on our strategy of recycling capital to fund our investments,” Silvers said. “To that end, subsequent to the end of the quarter, we realized a very attractive yield from the Boyne mortgage repayment due to the upside consideration we included as part of the deal structure. We remain focused on disciplined capital allocation by recycling capital within our portfolio to pursue accretive investments.”

Net income available to common shareholders was $23.5 million, or $0.32 per diluted common share, for the first quarter of 2018 compared to $48.0 million, or $0.75 per diluted common share, for the same quarter in 2017.

Funds From Operations for the first quarter of 2018 was $61.0 million, or $0.82 per diluted common share, compared to $73.9 million, or $1.15 per diluted common share, for the same period in 2017.

As The REIT Wire reported in April, EPR has aggressively deployed capital accretively over the past few years, but trends will likely moderate in 2018 due to the uptick in the marginal cost of capital. Those thoughts were according to RBC Capital Markets. The analytics firm took a closer look at the REIT and noted that the company will likely be more creative in the near-term.

“The company could become more active recycling capital to better position the portfolio to drive stronger growth in the future,” said RBC in the recent report. “Overall, we believe the shares reflect an attractive investment opportunity, and a potential resolution with CLA could act as a catalyst.”


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