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EPR Properties Reports Fourth Quarter And 2013 Year-End Results

EPR Properties (NYSE:EPR) today announced operating results for the fourth quarter and the year ended December 31, 2013.

Three Months Ended December 31, 2013

  • Total revenue was $89.4 million for the fourth quarter of 2013, representing an 8% increase from $82.5 million for the same quarter in 2012.
  • Net income available to common shareholders was $57.1 million, or $1.12 per diluted common share, for the fourth quarter of 2013 compared to $18.8 million, or $0.40 per diluted common share, for the same quarter in 2012.
  • Funds From Operations (FFO) for the fourth quarter of 2013 was $63.3 million, or $1.23 per diluted common share, compared to $41.0 million, or $0.87 per diluted common share, for the same quarter in 2012.
  • FFO as adjusted for the fourth quarter of 2013 was $49.6 million, or $0.97 per diluted common share, compared to $45.1 million, or $0.96 per diluted common share, for the same quarter in 2012.

Year Ended December 31, 2013

  • Total revenue was $343.1 million for the year ended December 31, 2013, representing an 8% increase from $317.8 million for the same period in 2012.
  • Net income available to common shareholders was $156.4 million, or $3.24 per diluted common share, for the year ended December 31, 2013, compared to $93.2 million, or $1.98 per diluted common share, for the same period in 2012.
  • FFO for the year ended December 31, 2013 was $199.4 million, or $4.13 per diluted common share, compared to $168.8 million, or $3.59 per diluted common share, for the same period in 2012.
  • FFO as adjusted for the year ended December 31, 2013 was $188.2 million, or $3.90 per diluted common share, compared to $173.8 million, or $3.69 per diluted common share, for the same period in 2012, an increase of 6% per share.

David Brain, President and CEO, commented, “The fourth quarter topped a year of consistently strong performance across all aspects of the business. Our continued focus on non-commodity growth segments enabled a 35% investment spending increase over the prior year, solid growth in per share results and one year total shareholder return that significantly outperformed the MSCI U.S. REIT Index. Additionally, we believe that we are well positioned to continue this strong trajectory over the next several years, and for 2014 we are off to a great start having previously announced an increase in our monthly dividend of over 8%.”

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