EPR Properties (EPR) AI Stock Analysis

• Market Cap: $4.55B
• Dividend Yield: 7.05%
• Average Volume (3M): 787.43K
• Price to Earnings (P/E): 18.1
• Beta (1Y): 0.45
• Revenue Growth: 2.93%
• EPS Growth: -0.87%
• Country: US
• Employees: 55
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Specialty
• EPS (TTM): 0.79
• Shares Outstanding: 76,140,340
• 10 Day Avg. Volume: 780,335
• 30 Day Avg. Volume: 787,428
• PEG Ratio: 0.13
• Price to Book (P/B): 1.63
• Price to Sales (P/S): 5.28
• P/FCF Ratio: 9.01
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 6.50
• Enterprise Value/Gross Profit: 8.27
• Enterprise Value/Ebitda: 7.65
• 1Y Price Target: $58.75
• Price Target Upside: -1.11% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 3.01
• Revenue Forecast (FY): $616.12M

• Rating: 79 Outperform
• Price Target: $70.00 ▲(17.83% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is driven primarily by strong technical momentum (price well above major moving averages with positive MACD) and a constructive earnings call (positive 2026 growth guidance, dividend increase, and solid cited credit/liquidity metrics). Financial performance is good but tempered by leverage considerations and 2025 financial data inconsistencies, while valuation is mixed—supported by a high dividend yield but held back by a higher P/E.

Positive Factors

High Portfolio Occupancy & Diversification

A large, highly leased portfolio across experiential and education assets produces durable, contractually backed rental cash flows. High occupancy and diversification across leisure verticals reduce vacancy risk and support stable rent rolls and predictable FFO over multiple quarters to years.

Consistent Cash Generation

Rising operating cash flow and persistent positive free cash flow indicate strong earnings quality and internal funding capacity. This cash generation underpins dividend coverage, funds reinvestment into experiential assets, and reduces dependence on external financing for medium-term growth.

Liquidity & Capital-Markets Access

Solid liquidity, undrawn revolver and recent successful debt/equity programs provide financing flexibility to execute a $400–$500M 2026 investment plan. Access to capital markets and fixed/hedged debt profile lowers near-term refinancing risk and supports disciplined portfolio growth.

Negative Factors

Elevated Leverage & Data Anomalies

Historical debt levels (consolidated debt ~$2.9B; net debt/EBITDAre ~4.9x) imply meaningful leverage for a REIT and limit financial flexibility. The 2025 reporting anomaly reduces confidence in current credit metrics, complicating evaluation of long-term coverage and refinancing capacity.

Execution Risk from Accelerated Investment Pace

A substantial step-up in experiential deployments and entry into new sub-verticals (fitness, golf, attractions) concentrates capital and requires integration expertise. Execution missteps, slower-than-expected yields, or higher capex could compress returns and increase G&A and operating complexity over the medium term.

Revenue Seasonality & Tenant Sensitivity

Exposure to box office cycles, weather-dependent ski assets and seasonal operating patterns drives recurring quarter-to-quarter volatility in percentage rents and FFO. These structural sensitivities can depress near-term cash flow during off-seasons or weak entertainment cycles, pressuring payout stability.

EPR Properties Business Overview & Revenue Model

Company Description

EPR Properties is a leading experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have nearly $6.7 billion in total investments across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns.

How the Company Makes Money

EPR Properties generates revenue primarily through leasing its properties to tenants under long-term agreements. The company earns rental income from its diverse portfolio, which includes properties in the entertainment and recreation sectors. Key revenue streams include fixed rent payments and percentage rents based on tenants' sales, with many leases structured to provide stable and predictable cash flows. Additionally, EPR may generate income through property management fees and other ancillary services. Significant partnerships with reputable tenants in the entertainment industry contribute to its earnings stability, while the strategic focus on experiential properties positions the company to benefit from trends in consumer spending on leisure activities.

EPR Properties Financial Statement Overview

Summary

Strong post-2020 recovery with improving profitability and solid cash generation (operating cash flow up to $421M in 2025; free cash flow positive since 2021). Offsetting this are leverage concerns based on 2020–2024 debt levels and multiple 2025 data inconsistencies (e.g., total debt shown as $0; select ratios at 0.0) that reduce confidence in the latest snapshot.

Income Statement

Profitability has strengthened meaningfully since 2020, with net income turning positive and margins remaining solid in recent years. Revenue has recovered well overall (from $406M in 2020 to $718M in 2025), including an 8.3% increase in 2025 after a slight dip in 2024. A key weakness is volatility across the period (notably the 2020 loss and uneven revenue growth), and one data point shows an EBIT margin of 0.0 in 2025 despite strong earnings, which reduces confidence in margin consistency for that year.

Balance Sheet

The balance sheet shows moderate leverage for a REIT historically, with debt-to-equity generally around ~1.15–1.48 from 2020–2024 and equity relatively stable around $2.3–$2.6B. Returns on equity improved versus the 2020 loss and reached ~11.8% in 2025. The main concern is leverage risk implied by the multi-year debt load, plus an apparent anomaly in 2025 where total debt is shown as $0 (driving debt-to-equity to 0.0), which conflicts with prior-year levels and limits interpretability of the latest-year credit profile.

Cash Flow

Cash generation is solid and generally supports reported earnings, with operating cash flow rising from $65M in 2020 to $421M in 2025 and free cash flow positive in every year except 2020. Free cash flow closely tracks net income (about 1.0x in 2023–2025), suggesting good earnings quality. Weaknesses include the 2024 free cash flow decline (down ~12%) and a coverage ratio reported as 0.0 in 2025 (likely a data issue given strong cash flow), which clouds the latest-year debt-service picture.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	718.36M	641.00M	659.72M	610.65M	512.86M
Gross Profit	320.87M	581.85M	602.24M	554.66M	456.13M
EBITDA	579.67M	437.69M	464.88M	465.58M	404.56M
Net Income	274.94M	146.07M	173.05M	176.23M	98.61M
Balance Sheet
Total Assets	5.70B	5.62B	5.70B	5.76B	5.80B
Cash, Cash Equivalents and Short-Term Investments	90.58M	22.06M	78.08M	107.93M	288.82M
Total Debt	0.00	3.07B	3.04B	3.05B	3.02B
Total Liabilities	3.37B	3.29B	3.25B	3.22B	3.18B
Stockholders Equity	2.33B	2.32B	2.45B	2.54B	2.62B
Cash Flow
Free Cash Flow	420.95M	393.14M	447.09M	428.30M	193.73M
Operating Cash Flow	420.95M	393.14M	447.09M	441.72M	306.93M
Investing Cash Flow	-121.68M	-176.35M	-201.05M	-351.58M	1.86M
Financing Cash Flow	-236.73M	-261.62M	-275.69M	-269.39M	-1.05B

EPR Properties Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 59.41
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EPR, the sentiment is Positive. The current price of 59.41 is above the 20-day moving average (MA) of 57.05, above the 50-day MA of 53.65, and above the 200-day MA of 53.05, indicating a bullish trend. The MACD of 1.58 indicates Negative momentum. The RSI at 65.20 is Neutral, neither overbought nor oversold. The STOCH value of 55.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EPR.

EPR Properties Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPR	79 Outperform	$4.55B	18.11	―	7.05%	2.93%	-0.87%
GLPI	77 Outperform	$13.85B	16.62	18.54%	6.93%	4.39%	-2.87%
LAMR	75 Outperform	$13.95B	23.86	57.04%	4.90%	3.04%	-14.88%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CXW	65 Neutral	$1.73B	16.31	8.04%	―	5.72%	47.75%
OUT	63 Neutral	$5.07B	35.13	19.88%	5.02%	-1.48%	-50.05%
SMA	61 Neutral	$1.98B	-200.90	-0.58%	3.42%	12.57%	4.92%

EPR Properties Corporate Events

EPR Properties Hikes Dividend on Strong 2025 Earnings

EPR Properties reported that for the fourth quarter and full year ended Dec. 31, 2025, total revenue rose to $182.95 million and $718.36 million, respectively, with annual net income available to common shareholders more than doubling to $250.79 million, or $3.28 per diluted share. Non-GAAP metrics also improved, with 2025 FFOAA and AFFO per diluted share up 5.1% and 6.2%, reflecting strong earnings growth and supporting a 5.1% increase in the monthly common dividend announced on Feb. 25, 2026.

The company deployed $288.5 million of investment spending in 2025, including a Virginia attraction and five Texas golf course properties, while committing a further $85 million to experiential development and redevelopment projects and recycling capital via $168.3 million of asset dispositions. EPR reinforced its balance sheet by issuing $550 million of senior unsecured notes due 2030, ending the year with $90.6 million in cash, full availability on its $1 billion revolver and no debt maturities until August 2026, positioning it to pursue its robust experiential pipeline and execute on higher 2026 investment and earnings guidance.

The most recent analyst rating on (EPR) stock is a Hold with a $58.00 price target. To see the full list of analyst forecasts on EPR Properties stock, see the EPR Stock Forecast page.

EPR Properties Announces $400 Million Share Distribution

On December 5, 2025, EPR Properties entered into a Distribution Agreement with several financial institutions to offer and sell up to $400 million of its common shares. This strategic move allows EPR Properties to raise funds for general corporate purposes, including acquisitions and debt reduction, potentially strengthening its market position and operational capabilities.

The most recent analyst rating on (EPR) stock is a Buy with a $58.00 price target. To see the full list of analyst forecasts on EPR Properties stock, see the EPR Stock Forecast page.