EPR Properties (EPR)
Real Estate · Experiential Net Lease REIT
A REIT generating recurring net-lease income from a diversified portfolio of experiential real estate—theatres, entertainment venues, attractions, and ski resorts—aligned with long-term consumer trends in leisure and discretionary entertainment.
What EPR Properties does
EPR Properties is a self-administered real estate investment trust (REIT) focused on net lease investments in experiential real estate—venues where consumers spend discretionary time and money on out-of-home leisure and recreation experiences. As of December 31, 2025, the company owned or financed $7.0 billion in total investments across 43 states and Canada, predominantly structured as long-term triple-net leases. The portfolio is organized into two segments: Experiential (94% of investments, including theatres, eat & play venues, attractions, ski properties, and gaming) and Education (6%, a legacy portfolio being gradually disposed of).
Themes: ["Experiential economy / leisure real estate","Net lease REIT","Theatre properties","Entertainment venues","Out-of-home entertainment","Regional destination properties","Education real estate (legacy portfolio)"]
Fundamentals
- Price$59.57 as of 2026-07-09 close
- Market cap$4.6B as of 2026-07-10
- 1-year return+1.0% as of 2026-07-09 close
- P/E16.90 as of 2026-07-10
- Net margin+37.5% as of 2026-07-10
- Gross margin+91.8% as of 2026-07-10
- ROE+11.7% as of 2026-07-10
- Debt / equity1.27 as of 2026-07-10
- Revenue growth (YoY)+2.6% as of 2026-07-10
- Revenue CAGR (3y)+3.0% SEC XBRL
- Beta1.03 as of 2026-07-10
Dividend: yield +6.2%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Theatre industry cyclicality and reliance on film production and box office performance, with exposure to studio release strategies and content delays","Tenant credit risk and operational performance of leisure and hospitality operators in a discretionary spending sector vulnerable to economic downturns","Real estate valuation and liquidity risk; the portfolio may decline in value or become difficult to sell if market conditions deteriorate or tenant defaults occur"]
Competitors & peers
- Realty Income (O)
- STORE Capital (STOR)
- Agree Realty (ADC)
- Spirit Realty Capital (SRC)
- National Retail Properties (NRF)
- Four Corners Property Trust (FCPT)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.