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EPR Properties

NYSE:EPR
Snowflake Description

6 star dividend payer with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EPR
NYSE
$6B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

EPR Properties is a specialty real estate investment trust (REIT) that invests in properties in select market segments which require unique industry knowledge, while offering the potential for stable and attractive returns. The last earnings update was 55 days ago. More info.


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EPR Share Price and Events
7 Day Returns
-2.3%
NYSE:EPR
0.1%
US REITs
2%
US Market
1 Year Returns
17.1%
NYSE:EPR
11.4%
US REITs
4.3%
US Market
EPR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
EPR Properties (EPR) -2.3% -3.5% -0.8% 17.1% 0.2% 37.3%
US REITs 0.1% 2% 4% 11.4% 11.6% 26.9%
US Market 2% 4.1% 4.2% 4.3% 43.9% 40.8%
1 Year Return vs Industry and Market
  • EPR outperformed the REITs industry which returned 11.4% over the past year.
  • EPR outperformed the Market in United States of America which returned 4.3% over the past year.
Price Volatility
EPR
Industry
5yr Volatility vs Market

Value

 Is EPR Properties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of EPR Properties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for EPR Properties.

NYSE:EPR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:EPR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.49
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.494 (1 + (1- 21%) (56.65%))
0.809
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.809 * 5.96%)
7.55%

Discounted Cash Flow Calculation for NYSE:EPR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for EPR Properties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

EPR Properties is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:EPR DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.55%)
2019 432.24 Analyst x5 401.89
2020 463.70 Analyst x5 400.86
2021 504.33 Analyst x5 405.37
2022 491.50 Analyst x1 367.32
2023 510.80 Analyst x1 354.93
2024 524.32 Est @ 2.65% 338.74
2025 538.32 Est @ 2.67% 323.37
2026 552.79 Est @ 2.69% 308.74
2027 567.73 Est @ 2.7% 294.82
2028 583.11 Est @ 2.71% 281.54
Present value of next 10 years cash flows $3,477.59
NYSE:EPR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $583.11 × (1 + 2.73%) ÷ (7.55% – 2.73%)
$12,421.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,421.58 ÷ (1 + 7.55%)10
$5,997.53
NYSE:EPR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,477.59 + $5,997.53
$9,475.12
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,475.12 / 75.50
$125.51
NYSE:EPR Discount to Share Price
Calculation Result
Value per share (USD) From above. $125.51
Current discount Discount to share price of $76.73
= -1 x ($76.73 - $125.51) / $125.51
38.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price EPR Properties is available for.
Intrinsic value
39%
Share price is $76.73 vs Future cash flow value of $125.51
Current Discount Checks
For EPR Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • EPR Properties's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • EPR Properties's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for EPR Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are EPR Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:EPR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.74
NYSE:EPR Share Price ** NYSE (2019-06-24) in USD $76.73
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 33.05x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of EPR Properties.

NYSE:EPR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:EPR Share Price ÷ EPS (both in USD)

= 76.73 ÷ 3.74

20.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • EPR Properties is good value based on earnings compared to the US REITs industry average.
  • EPR Properties is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does EPR Properties's expected growth come at a high price?
Raw Data
NYSE:EPR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
2.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 142 Publicly-Listed REITs Companies 2.24x
United States of America Market PEG Ratio Median Figure of 2,134 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NYSE:EPR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.49x ÷ 2.9%

7.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • EPR Properties is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on EPR Properties's assets?
Raw Data
NYSE:EPR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $38.59
NYSE:EPR Share Price * NYSE (2019-06-24) in USD $76.73
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.85x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.8x
NYSE:EPR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:EPR Share Price ÷ Book Value per Share (both in USD)

= 76.73 ÷ 38.59

1.99x

* Primary Listing of EPR Properties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • EPR Properties is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess EPR Properties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. EPR Properties has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is EPR Properties expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is EPR Properties expected to grow at an attractive rate?
  • EPR Properties's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • EPR Properties's earnings growth is positive but not above the United States of America market average.
  • EPR Properties's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:EPR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:EPR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 2.9%
NYSE:EPR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.9%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:EPR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:EPR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 802 270 1
2022-12-31 772 259 1
2021-12-31 771 289 2
2020-12-31 719 265 2
2019-12-31 676 244 3
NYSE:EPR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 634 498 279
2018-12-31 624 484 243
2018-09-30 612 477 250
2018-06-30 606 446 221
2018-03-31 598 414 210
2017-12-31 572 398 234
2017-09-30 555 405 232
2017-06-30 528 348 226
2017-03-31 497 331 201
2016-12-31 481 305 201
2016-09-30 465 309 196
2016-06-30 449 311 188

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • EPR Properties's earnings are expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
  • EPR Properties's revenue is expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:EPR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from EPR Properties Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:EPR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 3.34 3.34 3.34 1.00
2022-12-31 3.27 3.27 3.27 1.00
2021-12-31 3.42 3.54 3.23 3.00
2020-12-31 3.21 3.35 3.10 4.00
2019-12-31 3.11 3.19 3.00 5.00
NYSE:EPR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.74
2018-12-31 3.27
2018-09-30 3.36
2018-06-30 2.98
2018-03-31 2.85
2017-12-31 3.29
2017-09-30 3.38
2017-06-30 3.42
2017-03-31 3.15
2016-12-31 3.17
2016-09-30 3.13
2016-06-30 3.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • EPR Properties is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess EPR Properties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
EPR Properties has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has EPR Properties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare EPR Properties's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • EPR Properties's year on year earnings growth rate has been positive over the past 5 years.
  • EPR Properties's 1-year earnings growth exceeds its 5-year average (32.8% vs 11.5%)
  • EPR Properties's earnings growth has exceeded the US REITs industry average in the past year (32.8% vs 16%).
Earnings and Revenue History
EPR Properties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from EPR Properties Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:EPR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 634.23 278.65 48.70
2018-12-31 623.93 242.84 48.89
2018-09-30 611.60 249.51 46.32
2018-06-30 606.44 220.72 46.97
2018-03-31 598.15 209.76 44.65
2017-12-31 572.17 234.22 43.38
2017-09-30 555.18 231.74 44.02
2017-06-30 527.61 226.31 41.04
2017-03-31 497.06 200.91 39.38
2016-12-31 481.22 201.18 37.54
2016-09-30 464.54 195.79 35.41
2016-06-30 449.16 188.31 33.80
2016-03-31 433.48 181.88 32.56
2015-12-31 418.36 170.53 31.02
2015-09-30 407.08 169.92 29.23
2015-06-30 397.81 162.57 28.46
2015-03-31 389.37 154.63 27.79
2014-12-31 380.32 151.95 27.57
2014-09-30 369.99 162.19 27.41
2014-06-30 359.25 160.01 27.45
2014-03-31 350.70 151.10 26.42
2013-12-31 342.78 151.83 25.61
2013-09-30 337.36 121.52 24.86
2013-06-30 330.33 120.80 23.59
2013-03-31 325.28 124.75 23.36
2012-12-31 318.83 113.40 23.17
2012-09-30 310.94 124.26 22.82
2012-06-30 306.66 116.22 21.89

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • EPR Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • EPR Properties used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • EPR Properties has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess EPR Properties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
EPR Properties has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is EPR Properties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up EPR Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • EPR Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • EPR Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of EPR Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from EPR Properties Company Filings, last reported 2 months ago.

NYSE:EPR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,918.81 3,045.74 11.12
2018-12-31 2,871.06 2,986.05 5.87
2018-09-30 2,903.23 2,954.96 74.15
2018-06-30 2,892.00 2,983.98 3.02
2018-03-31 2,881.63 3,131.44 24.51
2017-12-31 2,932.31 3,028.83 41.92
2017-09-30 2,894.26 2,987.93 11.41
2017-06-30 2,907.30 2,793.21 70.87
2017-03-31 2,245.36 2,617.29 14.45
2016-12-31 2,191.85 2,488.11 19.34
2016-09-30 2,195.38 2,255.58 7.31
2016-06-30 2,200.67 2,107.91 8.46
2016-03-31 2,192.99 2,005.35 10.98
2015-12-31 2,079.82 1,987.59 4.28
2015-09-30 1,995.02 2,046.06 14.61
2015-06-30 1,908.10 1,951.86 6.15
2015-03-31 1,915.46 1,855.58 102.21
2014-12-31 1,932.44 1,634.85 3.34
2014-09-30 1,933.67 1,625.65 8.39
2014-06-30 1,757.92 1,665.42 13.59
2014-03-31 1,766.47 1,487.24 20.41
2013-12-31 1,693.97 1,479.81 7.96
2013-09-30 1,499.41 1,550.92 24.14
2013-06-30 1,460.59 1,477.14 20.03
2013-03-31 1,463.46 1,387.02 11.76
2012-12-31 1,465.92 1,372.68 10.66
2012-09-30 1,472.86 1,343.40 25.01
2012-06-30 1,478.51 1,273.71 12.74
  • EPR Properties's level of debt (104.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (84.3% vs 104.3% today).
  • Debt is not well covered by operating cash flow (16.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.5x coverage).
X
Financial health checks
We assess EPR Properties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. EPR Properties has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is EPR Properties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.86%
Current annual income from EPR Properties dividends. Estimated to be 5.98% next year.
If you bought $2,000 of EPR Properties shares you are expected to receive $117 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • EPR Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • EPR Properties's dividend is above the markets top 25% of dividend payers in United States of America (3.73%).
Upcoming dividend payment

Purchase EPR Properties before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:EPR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:EPR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 4.50 1.00
2022-12-31 4.50 1.00
2021-12-31 4.71 6.00
2020-12-31 4.61 7.00
2019-12-31 4.50 8.00
NYSE:EPR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-18 4.500 5.761
2019-05-16 4.500 5.737
2019-04-16 4.500 5.781
2019-03-18 4.500 5.809
2019-02-15 4.500 6.054
2019-01-16 4.500 6.201
2018-12-17 4.320 6.487
2018-11-16 4.320 6.139
2018-10-17 4.320 6.243
2018-09-14 4.320 6.359
2018-08-20 4.320 6.185
2018-07-17 4.320 6.415
2018-06-18 4.320 6.593
2018-05-17 4.320 7.010
2018-04-17 4.320 7.674
2018-03-19 4.320 7.834
2018-02-15 4.320 7.653
2018-01-18 4.320 7.396
2017-12-18 4.080 6.485
2017-11-17 4.080 6.042
2017-10-16 4.080 5.874
2017-09-18 4.080 5.794
2017-08-21 4.080 5.832
2017-07-19 4.080 5.829
2017-06-15 4.080 5.589
2017-05-18 4.080 5.676
2017-04-13 4.080 5.628
2017-03-17 4.080 5.540
2017-02-16 4.080 5.490
2017-01-17 4.080 5.505
2016-12-19 3.840 5.332
2016-11-17 3.840 5.500
2016-10-19 3.840 5.416
2016-09-19 3.840 5.003
2016-08-19 3.840 4.920
2016-07-20 3.840 4.724
2016-06-16 3.840 4.878
2016-05-19 3.840 5.326
2016-04-19 3.840 5.640
2016-03-16 3.840 5.840
2016-02-18 3.840 6.125
2016-01-15 3.840 6.524
2015-12-16 3.630 6.303
2015-11-16 3.630 6.508
2015-10-19 3.630 6.464
2015-09-17 3.630 6.856
2015-08-18 3.630 7.025
2015-07-21 3.630 6.437
2015-06-18 3.630 6.454
2015-04-20 3.630 6.254
2015-03-16 3.630 6.070
2015-02-17 3.630 6.038
2015-01-16 3.630 5.707
2014-12-19 3.420 5.734
2014-11-17 3.420 6.090
2014-10-20 3.420 6.112
2014-09-16 3.420 6.559
2014-08-19 3.420 6.060
2014-07-18 3.420 6.173
2014-06-18 3.420 6.126
2014-05-20 3.420 6.295
2014-04-16 3.420 6.353
2014-03-18 3.420 6.396
2014-02-18 3.420 6.475
2014-01-16 3.420 6.736
2013-12-17 3.160 6.384
2013-11-20 3.160 6.321
2013-10-18 3.160 6.182
2013-09-19 3.160 6.437
2013-08-19 3.160 6.409
2013-07-18 3.160 6.143
2013-06-18 3.160 6.278
2013-05-17 3.160 5.834
2013-04-16 3.160 5.578
2013-02-26 3.160 6.187
2012-12-17 3.000 6.416
2012-09-18 3.000 6.688
2012-06-15 3.000 6.788
2012-02-23 3.000 6.691
2011-12-15 2.800 6.396
2011-09-16 2.800 6.689
2011-06-15 2.800 6.414
2011-02-28 2.800 6.019
2010-12-15 2.600 5.652
2010-09-15 2.600 5.619
2010-06-17 2.600 6.286
2010-03-15 2.600 6.152
2009-12-15 2.600 7.179
2009-09-15 2.600 7.833

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of EPR Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (107.2x coverage).
X
Income/ dividend checks
We assess EPR Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can EPR Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. EPR Properties has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of EPR Properties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Greg Silvers
COMPENSATION $5,127,153
AGE 54
TENURE AS CEO 4.3 years
CEO Bio

Mr. Gregory K. Silvers, also known as Greg, J.D., has been the Chief Executive Officer, President, and Secretary of EPR Properties since February 24, 2015, February 24, 2015, and January 2015 respectively. He is the President and Chief Executive Officer at EPT Arroyo, Inc., EPR TRS Holdings, Inc., EPT Gulf Pointe, Inc., EPT 909, Inc., Education Capital Solutions, LLC, EPT Boise, Inc., 30 West Pershing, LLC, EPT 301, LLC, Burbank Village, LP, ECE I, LLC, ECE II, LLC, EPT Deer Valley, Inc., EPR Canada, Inc., EPR Karting, LLC, EPR North US LP, Cantera 30 Theatre, L.P., Cantera 30, Inc., EPT Fontana, LLC, EPR Resorts, LLC, EPR Concord II, L.P., EPR Hialeah, Inc., ECS Douglas I, LLC, EPT Oakview, Inc., EPT Auburn, Inc., EPT Wilmington, Inc., EPT Pensacola, Inc., EPT Nineteen, Inc., EPT Davie, Inc., EPT Modesto, Inc., EPT Mesa, Inc., EPT Huntsville, Inc., EPT Dallas, LLC, EPT Columbiana, Inc., and EPT Aliso Viejo, Inc. He also serves as President and Chief Executive Officer at He also serves as President and Chief Executive Officer at WestCol Center, LLC. He is the Manager, President, Chief Executive Officer, Vice President, Principal Financial Officer, and Principal Accounting Officer at Adelaar Developer, LLC. He served as Executive Vice President of EPR Properties since February 2012 until February 24, 2015, its Chief Operating Officer since June 30, 2006 until February 24, 2015 and its Chief Development Officer from 2001 to 2006. He served as Secretary and General Counsel of EPR Properties since 1998 until 2006. From 1994 to 1998, he practiced with the law firm of Stinson Leonard Street LLP specializing in real estate law. From 1987 to 1992, Mr. Silvers served as the System Engineer at Volume Shoe Corporation. From 1987 to 1987, he served as the System Engineer at Electronic Data Systems. He has been Trustee of EPR Properties since 2015. Mr. Silvers is a member of Kansas City Metropolitan Bar Association, Board of Governors at Kansas University School of Law and Board of Trustees at Bishop Seabury Academy. He received his J.D. in 1994 from the University of Kansas and a BS degree from the Tennessee Technological University.

CEO Compensation
  • Greg's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Greg's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the EPR Properties management team in years:

3.5
Average Tenure
54
Average Age
  • The tenure for the EPR Properties management team is about average.
Management Team

Greg Silvers

TITLE
President
COMPENSATION
$5M
AGE
54
TENURE
4.3 yrs

Mark Peterson

TITLE
Executive VP
COMPENSATION
$3M
AGE
54
TENURE
13 yrs

Tonya Mater

TITLE
VP & Chief Accounting Officer
COMPENSATION
$953K
AGE
41
TENURE
3.8 yrs

Craig Evans

TITLE
Senior VP
COMPENSATION
$2M
AGE
57
TENURE
4.2 yrs

Mike Hirons

TITLE
Senior Vice President of Strategy & Asset Management
COMPENSATION
$2M
AGE
47
TENURE
3.3 yrs

Jerry Earnest

TITLE
Executive Advisor
COMPENSATION
$6M
AGE
61
TENURE
1.3 yrs

Greg Zimmerman

TITLE
Executive VP & Chief Investment Officer
AGE
56
TENURE
0.2 yrs

LIZ GRACE

TITLE
Vice President of Human Resources & Administration
TENURE
1.3 yrs

Brian Moriarty

TITLE
Vice President of Corporate Communications
TENURE
8 yrs

Aaron Linn

TITLE
Vice President of Underwriting & Analysis
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the EPR Properties board of directors in years:

5.9
Average Tenure
60
Average Age
  • The tenure for the EPR Properties board of directors is about average.
Board of Directors

Bob Druten

TITLE
Chairman of the Board
COMPENSATION
$347K
AGE
70

Greg Silvers

TITLE
President
COMPENSATION
$5M
AGE
54
TENURE
4.3 yrs

Peter Brown

TITLE
COMPENSATION
$300K
AGE
59
TENURE
9.1 yrs

Jack Newman

TITLE
COMPENSATION
$300K
AGE
70
TENURE
10.1 yrs

Tom Bloch

TITLE
COMPENSATION
$300K
AGE
64
TENURE
6.1 yrs

Robin Sterneck

TITLE
COMPENSATION
$300K
AGE
60
TENURE
5.8 yrs

Barry Brady

TITLE
COMPENSATION
$324K
AGE
72
TENURE
15.1 yrs

Jim Connor

TITLE
Independent Trustee
AGE
59
TENURE
0.4 yrs

Ginny Shanks

TITLE
Independent Trustee
AGE
58
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • EPR Properties individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
20. Jun 19 Sell Peter Brown Individual 20. Jun 19 20. Jun 19 -2,578 $79.12 $-203,951
17. Jun 19 Sell Robin Sterneck Individual 17. Jun 19 17. Jun 19 -1,881 $78.20 $-147,094
23. May 19 Sell Tonya Mater Individual 23. May 19 23. May 19 -1,000 $77.88 $-77,872
22. May 19 Sell Craig Evans Individual 20. May 19 20. May 19 -5,000 $76.57 $-382,874
02. May 19 Sell Jack Newman Individual 02. May 19 02. May 19 -506 $79.48 $-40,217
04. Mar 19 Sell Robin Sterneck Individual 01. Mar 19 01. Mar 19 -860 $72.60 $-62,436
06. Dec 18 Sell Peter Brown Individual 06. Dec 18 06. Dec 18 -2,000 $70.37 $-140,740
08. Nov 18 Sell Tonya Mater Individual 08. Nov 18 08. Nov 18 -3,990 $70.13 $-279,819
05. Nov 18 Sell Mark Peterson Individual 05. Nov 18 05. Nov 18 -7,250 $69.75 $-505,688
X
Management checks
We assess EPR Properties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. EPR Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should Income Investors Look At EPR Properties (NYSE:EPR) Before Its Ex-Dividend?

EPR Properties's next dividend payment will be US$0.38 per share, and in the last 12 months, the company paid a total of US$4.50 per share. … Check out our latest analysis for EPR Properties Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. … Earnings per share have been growing modestly and EPR Properties paid out a bit over half of its earnings and free cash flow last year.

Simply Wall St -

Is EPR Properties (NYSE:EPR) A Great Dividend Stock?

Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. … Conclusion When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

Should We Be Delighted With EPR Properties's (NYSE:EPR) ROE Of 10%?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for EPR Properties: 10% = US$279m ÷ US$2.9b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does EPR Properties Have A Good Return On Equity? … Companies that can achieve high returns on equity without too much debt are generally of good quality.

Simply Wall St -

With EPS Growth And More, EPR Properties (NYSE:EPR) Is Interesting

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in EPR Properties (NYSE:EPR). … See our latest analysis for EPR Properties How Fast Is EPR Properties Growing? … I discovered that the median total compensation for the CEOs of companies like EPR Properties with market caps between US$4.0b and US$12b is about US$7.0m.

Simply Wall St -

Does The Data Make EPR Properties (NYSE:EPR) An Attractive Investment?

NYSE:EPR Income Statement, May 13th 2019 EPR’s reputation for being one of the best dividend payers in the market is supported by the fact that it has been steadily growing its dividend payments over the past ten years and currently is one of the top yielding companies on the markets, at 5.8%. … NYSE:EPR Historical Dividend Yield, May 13th 2019 Next Steps: For EPR Properties, there are three relevant aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for EPR’s future growth? … Take a look at our free research report of analyst consensus for EPR’s outlook.

Simply Wall St -

Can We See Significant Institutional Ownership On The EPR Properties (NYSE:EPR) Share Register?

Companies that used to be publicly owned tend to have lower insider ownership. … Companies of this size are usually well known to retail investors, too. … institutional investors have bought into the company.

Simply Wall St -

Should You Invest In EPR Properties (NYSE:EPR)?

real estate investment trust (REIT) based in Kansas City, United States. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way. … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation

Simply Wall St -

Who Has Been Selling EPR Properties (NYSE:EPR) Shares?

In the last twelve months, the biggest single sale by an insider was when Executive VP Mark Peterson sold US$506k worth of shares at a price of US$69.75 per share. … That means that an insider was selling shares at slightly below the current price (US$77.83). … Over the last year, we note insiders sold 16.60k shares worth US$1.1m.

Simply Wall St -

The EPR Properties (NYSE:EPR) Share Price Has Gained 42% And Shareholders Are Hoping For More

For example, the EPR Properties (NYSE:EPR) share price is 42% higher than it was five years ago, which is more than the market average. … During five years of share price growth, EPR Properties achieved compound earnings per share (EPS) growth of 0.7% per year. … This EPS growth is slower than the share price growth of 7.3% per year, over the same period.

Simply Wall St -

Here's What We Think About EPR Properties's (NYSE:EPR) CEO Pay

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Greg Silvers's Compensation Compare With Similar Sized Companies. … According to our data, EPR Properties has a market capitalization of US$5.6b, and pays its CEO total annual compensation worth US$5.1m.

Simply Wall St -

Company Info

Description

EPR Properties is a specialty real estate investment trust (REIT) that invests in properties in select market segments which require unique industry knowledge, while offering the potential for stable and attractive returns. Our total investments are nearly $7.0 billion and our primary investment segments are Entertainment, Recreation and Education. We adhere to rigorous underwriting and investing criteria centered on key industry and property level cash flow standards. We believe our focused niche approach provides a competitive advantage, and the potential for higher growth and better yields.

Details
Name: EPR Properties
EPR
Exchange: NYSE
Founded: 1997
$5,792,793,040
75,495,804
Website: http://www.eprkc.com
Address: EPR Properties
909 Walnut Street,
Suite 200,
Kansas City,
Missouri, 64106,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE EPR Common Shares New York Stock Exchange US USD 18. Nov 1997
NYSE EPR.PRC PFD C CNV 5.75% New York Stock Exchange US USD 12. Nov 2012
NYSE EPR.PRE CONV PFD 9% SR E New York Stock Exchange US USD 12. Nov 2012
NYSE EPR.PRG 5.750% CUM PFD G New York Stock Exchange US USD 20. Nov 2017
Number of employees
Current staff
Staff numbers
64
EPR Properties employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 23:36
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/06/15
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.