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EPR Properties Reports Second Quarter Results

EPR Properties (NYSE:EPR) today announced operating results for the second quarter and six months ended June 30, 2014.

Three Months Ended June 30, 2014

  • Total revenue was $91.8 million for the second quarter of 2014, representing an 11% increase from $83.0 million for the same quarter in 2013.
  • Net income available to common shareholders was $34.8 million, or $0.65 per diluted common share, for the second quarter of 2014 compared to $26.5 million, or $0.56 per diluted common share, for the same quarter in 2013.
  • Funds From Operations (FFO) for the second quarter of 2014 was $50.4 million, or $0.94 per diluted common share, compared to $40.2 million, or $0.85 per diluted common share, for the same quarter in 2013.
  • FFO as adjusted for the second quarter of 2014 was $52.0 million, or $0.97 per diluted common share, compared to $46.4 million, or $0.98 per diluted common share, for the same quarter in 2013.

Six Months Ended June 30, 2014

  • Total revenue was $181.6 million for the six months ended June 30, 2014, representing a 9% increase from $165.9 million for the same period in 2013.
  • Net income available to common shareholders was $72.4 million, or $1.36 per diluted common share, for the six months ended June 30, 2014 compared to $61.8 million, or $1.31 per diluted common share, for the same period in 2013.
  • FFO for the six months ended June 30, 2014 was $103.1 million, or $1.94 per diluted common share, compared to $88.5 million, or $1.88 per diluted common share, for the same period in 2013.
  • FFO as adjusted for the six months ended June 30, 2014 was $101.5 million, or $1.91 per diluted common share, compared to $90.4 million, or $1.92 per diluted common share, for the same period in 2013.

David Brain, President and CEO, commented, “We continue to deliver consistent performance across our portfolio. I am particularly pleased with our team’s ability to source attractive investment opportunities, allowing us to increase our investment spending guidance for the year. These investments are supported by an increasingly strong balance sheet, which was recognized by a recent credit rating upgrade from S&P, whereby our unsecured debt is now rated investment grade across all three major rating agencies.”

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