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REIT owning experiential real estate — movie theaters, ski resorts, attractions and entertainment venues.
REIT owning experiential real estate — movie theaters, ski resorts, attractions and entertainment venues.
Owns the property and leases it to operators under long-term triple-net leases, where the tenant pays taxes, insurance and upkeep, so rent is steadier than the operators' own results. Much of its income comes from a small number of large operators, so a tenant's health matters. As a REIT it passes most income to shareholders.
Moat: narrow (scale, installed base). Specialized underwriting of experiential real estate and long-term operator leases are a differentiated niche.
Headquarters: Kansas City, Missouri, US · Founded: 1997 · Employees: 54
Size EPR Properties (EPR) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $4.56B, the 1245th largest of 3,117 United States companies the cockpit tracks. Shares closed at $59.51 on 6 Nov 2026.
Performance Over six months the shares gained 2.1%, against -2.3% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 7.3% over the last twelve months (peer median +0.5%); the operating margin is 38.1% (peer median 39.7%).
Valuation It trades at 1.95× book value against a peer median of 1.21× (4th most expensive of 21).
Price implies The share price implies a return on equity of about 16.8%; EPR Properties delivers 12.7%, so the price asks more than the business earns today.
Credit EPR Properties has 6 bonds outstanding ($2.75B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 116 bp.
Short interest Short interest is 9.8% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $765M | $718M | $698M | $706M | $657M |
| Revenue growth | — | +3% | -1% | +7% | — |
| Gross profit | $392M | $490M | $473M | $480M | $438M |
| EBITDA | $603M | $544M | $517M | $544M | $501M |
| Net income | $297M | $275M | $146M | $173M | $176M |
| Free cash flow | $473M | $421M | $393M | $447M | $448M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $3.59B | $3.14B | $3.08B | $3.05B | $3.06B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| EPR Properties EPR | $4.56B | +2% | +7% | 13% | 1.95× | 16.8% |
| Realty Income O | $56.1B | -4% | +11% | 3% | 1.42× | 10.3% |
| Vici Properties VICI | $27.3B | -13% | +5% | 8% | 0.94× | 7.9% |
| Four Corners Property Trust FCPT | $2.57B | -7% | +10% | 8% | 1.58× | 12.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EPR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.4% | +4.4% | 5th highest of 21 |
| 6-month return | +2.1% | -2.3% | 8th highest of 21 |
| Return on equity | 12.7% | 5.8% | 3rd highest of 21 |
| Price / book | 1.95× | 1.21× | 4th most expensive of 21 |
| Trailing P/E | 16.8× | 21.1× | 8th cheapest of 20 |
| ROE the price implies | 16.8% | 8.3% | 3rd most demanding of 21 |
| ROE delivered | 12.7% | 5.6% | 2nd highest of 20 |
| Bond spread | 116 bp | 140 bp | 3rd tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| EPR Properties EPR | United States | $4.56B | +2% | +7% | 13% | 1.95× | 16.8% | 12.7% |
| Americold Realty Trust COLD | United States | $4.57B | +8% | 0% | -16% | 1.89× | 15.5% | -16.5% |
| Mapletree Logistics Trust M44U.SI | Singapore | $4.47B | -6% | -1% | 3% | 0.87× | 5.7% | 3.3% |
| Starwood Property Trust STWD | United States | $4.46B | -32% | +11% | 3% | 0.69× | 8.0% | 3.4% |
| Keppel DC REIT AJBU.SI | Singapore | $4.67B | -6% | +30% | 11% | 1.26× | 6.8% | 11.4% |
| Apple Hospitality REIT APLE | United States | $4.46B | +34% | +1% | 6% | 1.42× | 12.2% | 5.5% |
| Tanger SKT | United States | $4.45B | +6% | +11% | 19% | 6.60× | 51.9% | 19.3% |
| Dexus DXS.AX | Australia | $4.44B | 0% | -28% | 5% | 0.65× | 8.0% | 4.9% |
| General de Galerias Comerciales GGC.MC | Spain | $4.70B | 0% | +3% | 18% | 3.99× | 13.5% | n/a |
| RioCan Real Estate Investment Trust REI-UN.TO | Canada | $4.41B | -3% | -13% | 7% | 0.86× | 7.7% | 6.9% |
| Nippon Prologis REIT 3283.T | Japan | $4.37B | -8% | +9% | 6% | 1.39× | 6.6% | 6.0% |
| Cousins Properties CUZ | United States | $4.87B | +11% | +8% | 0% | 1.10× | 11.4% | 0.3% |
| Japan Metropolitan Fund Investment 8953.T | Japan | $4.87B | -8% | 0% | 7% | 1.17× | 4.8% | 7.1% |
| Mapletree Pan Asia Commercial Trust N2IU.SI | Singapore | $4.89B | -7% | -5% | 3% | 0.68× | 5.0% | 2.8% |
| Kilroy Realty KRC | United States | $4.21B | +3% | -4% | 1% | 0.80× | 9.3% | 0.5% |
| Japan Real Estate Investment 8952.T | Japan | $4.98B | -10% | -1% | 7% | 1.41× | 6.1% | 6.7% |
| Kite Realty Group Trust KRG | United States | $5.04B | -4% | -7% | 12% | 1.84× | 14.6% | 11.5% |
| Rithm Capital RITM | United States | $5.15B | -6% | +19% | 6% | 0.74× | 8.7% | 5.6% |
| Glp J-reit 3281.T | Japan | $4.00B | -2% | -6% | 7% | 1.43× | 5.4% | 6.8% |
| Chartwell Retirement Residences CSH-UN.TO | Canada | $5.25B | +3% | +24% | 1% | 3.92× | 22.6% | 0.5% |
| Mirvac MGR.AX | Australia | $5.27B | +14% | +6% | 7% | 0.83× | 9.9% | 7.4% |
EPR Properties has 6 bonds outstanding with $2.75B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.72%, a spread of 116 bp over government bonds.