Entertainment Properties Trust Reports Third Quarter Results

Entertainment Properties Trust (NYSE:EPR) today announced operating results for the third quarter and nine months ended September 30, 2012.

Total revenue was $82.8 million for the third quarter of 2012, representing a 9% increase from $76.0 million for the same quarter in 2011. Net income available to common shareholders was $28.1 million, or $0.60 per diluted common share, for the third quarter of 2012 compared to $25.7 million, or $0.55 per diluted common share, for the same quarter in 2011. Funds From Operations (FFO) for the third quarter of 2012 was $44.4 million, or $0.94 per diluted common share, compared to $37.6 million, or $0.80 per diluted common share, for the same period in 2011. FFO as adjusted for the third quarter of 2012 was $45.1 million, or $0.96 per diluted common share, compared to $40.5 million, or $0.86 per diluted common share, for the same period in 2011, an increase of 12% per share.

Total revenue was $239.6 million for the nine months ended September 30, 2012, representing a 7% increase from $224.0 million for the same period in 2011. Net income available to common shareholders was $74.3 million, or $1.58 per diluted common share, for the nine months ended September 30, 2012 compared to $52.4 million, or $1.12 per diluted common share, for the same period in 2011. Funds From Operations (FFO) for the nine months ended September 30, 2012 was $127.8 million, or $2.72 per diluted common share, compared to $107.7 million, or $2.30 per diluted common share, for the same period in 2011. FFO as adjusted for the nine months ended September 30, 2012 was $128.7 million, or $2.74 per diluted common share, compared to $118.4 million, or $2.52 per diluted common share, for the same period in 2011, an increase of 9% per share.

David Brain, President and CEO, commented, “The continuing strength of our operations and lower cost of capital allowed us to realize 12% growth in FFO as adjusted per share in the third quarter and once again increase our FFO guidance for the full year. We also continue to successfully build our pipeline for ongoing earnings growth as we enhanced our portfolio with attractive investments across each of our target categories.”

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