This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Entertainment Properties Trust Reports Third Quarter Results

“Additionally, I am also pleased to announce that effective November 12, we will be updating our name to EPR Properties to reflect the Company's ongoing strategic evolution,” Mr. Brain continued. “While our entertainment segment continues to be our largest and drives solid returns, we have also created a high quality portfolio of education and recreation properties. We will continue to seek properties in select categories that require unique industry knowledge, while offering the potential for stable and attractive returns, and this name change reflects the alignment of our brand to our proven strategy.”

A reconciliation of FFO to FFO as adjusted follows (unaudited, dollars in thousands, except per share amounts):

Three Months Ended September 30,
2012     2011
Amount     FFO/share Amount     FFO/share
FFO $ 44,394 $ 0.94 $ 37,611 $ 0.80
Transaction costs 184 0.01 148
Costs associated with loan refinancing 477 0.01
Preferred share redemption costs     2,769   0.06  
FFO as adjusted $ 45,055   $ 0.96   $ 40,528   $ 0.86  
Dividends declared per common share $ 0.75 $ 0.70
FFO as adjusted payout ratio 78 % 81 %
      Nine Months Ended September 30,
2012     2011
Amount     FFO/share Amount     FFO/share
FFO $ 127,802 $ 2.72 $ 107,697 $ 2.30
Costs associated with loan refinancing or payoff 477 0.01 6,388 0.13
Transaction costs 373 0.01 1,497 0.03
Preferred share redemption costs     2,769   0.06  
FFO as adjusted $ 128,652   $ 2.74   $ 118,351   $ 2.52  
Dividends declared per common share $ 2.25 $ 2.10
FFO payout ratio, as adjusted 82 % 83 %

Portfolio Update

As of September 30, 2012, the Company's real estate portfolio consisted of 113 megaplex theatres (including two joint venture properties) totaling approximately 8.9 million square feet, and restaurant, retail and other destination recreation and specialty properties totaling 4.9 million square feet. The Company also owned 38 public charter schools, five vineyards totaling approximately 529 plantable acres and eight wineries totaling approximately 640,000 square feet. In addition, the Company had six entertainment properties (including four megaplex theatres), one education property and one recreation property under construction at September 30, 2012. At September 30, 2012, the Company's overall real estate portfolio was 98% leased.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,687.01 +8.78 0.05%
S&P 500 2,058.22 +2.07 0.10%
NASDAQ 4,875.3990 +12.0370 0.25%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs