$EPR-PG

EPR PROPERTIES

CIK:0001045450|SEC Filings

Consolidated Statements Of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating Lease, Lease Income	$ 169,033	$ 150,351	$ 324,218	$ 296,710
Other income	11,764	12,218	21,834	23,854
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	15,282	15,499	31,279	32,537
Total revenue	196,079	178,068	377,331	353,101
Property operating expense	15,366	14,661	30,719	29,832
Other expense	11,064	11,959	22,053	24,570
General and Administrative Expense	13,976	13,230	28,218	27,254
Severance Costs	0	0	1,423	0
Transaction costs	45	669	338	1,236
Financing Receivable, Credit Loss, Expense (Reversal)	138	997	(5,459)	345
Depreciation and amortization	48,630	42,080	93,587	83,169
Operating Costs and Expenses	89,219	83,596	170,879	166,406
Gain on sale of real estate	182	16,779	1,209	26,163
Operating Income	107,042	111,251	207,661	212,858
Interest expense, net	38,275	33,246	73,038	66,267
Equity in loss from joint ventures	984	1,681	3,616	4,328
Income from Continuing Operations before Income Taxes, Noncontrolling Interest	67,783	76,324	131,007	142,263
Income tax expense	617	681	1,231	817
Net income	67,166	75,643	129,776	141,446
Preferred dividend requirements	6,040	6,040	12,072	12,072
Net income available to common shareholders of EPR Properties	61,126	69,603	117,704	129,374
Foreign currency translation adjustment	(5,552)	13,983	(10,059)	14,164
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax, Parent	4,172	(10,420)	8,251	(10,412)
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 65,786	$ 79,206	$ 127,968	$ 145,198
Basic earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.80	$ 0.91	$ 1.54	$ 1.70
Diluted earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.79	$ 0.91	$ 1.53	$ 1.69
Shares used for computation (in thousands):
Basic (in shares)	76,521	76,083	76,424	75,944
Diluted (in shares)	77,017	76,571	76,897	76,404

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net income	$ 129,776	$ 141,446
Gain on real estate transactions	(1,209)	(26,163)
Deferred income tax expense (benefit)	369	(623)
Financing Receivable, Credit Loss, Expense (Reversal)	(5,459)	345
Equity in loss from joint ventures	(3,616)	(4,328)
Proceeds from Equity Method Investment, Distribution	7	11
Depreciation and amortization	93,587	83,169
Amortization of deferred financing costs	5,371	4,308
Amortization of above/below market leases and tenant allowances, net	(156)	(162)
Share-based Payment Arrangement, Noncash Expense	8,395	7,779
share based compensation included in severance expense	1,041	0
Increase (Decrease) in Operating Lease Assets and Liabilities, Net	(1,307)	(552)
Mortgage notes accrued interest receivable	(1,268)	(421)
Accounts receivable	(13,653)	(12,481)
Other assets	(2,943)	(4,877)
Accounts payable and accrued liabilities	(435)	(6,401)
Increase (Decrease) in Deferred Revenue	(9,196)	(3,016)
Net cash provided by operating activities	206,536	186,690
Investing activities:
Payments to Acquire Productive Assets	458,359	19,541
Proceeds from Sale of Productive Assets	690	106,436
Investment in mortgage notes receivable	(14,695)	(9,776)
Proceeds from Sale and Collection of Mortgage Notes Receivable	11,065	9,458
Proceeds from promissory note receivable paydown	227	279
Additions to properties under development	(19,207)	(57,033)
Net cash (used) provided by investing activities	(480,279)	29,823
Financing activities:
Proceeds from long-term debt facilities	435,000	414,000
Repayments of Long-Term Debt	(75,000)	(484,000)
Deferred financing fees paid	(413)	(446)
Net proceeds from issuance of common shares	502	464
Purchase of common shares for treasury	(13,144)	(9,833)
Dividends paid to shareholders	(150,587)	(144,091)
Net cash provided (used) by financing activities	196,358	(223,906)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(678)	414
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(78,063)	(6,979)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	20,585	28,720
Cash and Cash Equivalent	16,197	12,955
Restricted Cash and Cash Equivalent	4,388	15,765
Supplemental schedule of non-cash activity:
Transfer of property under development to rental property	55,538	69,770
Non-cash Conversion of Mortgage Note Receivable to Real Estate	72,800	0
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses	28,302	28,214
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	37,820	0
Operating Lease, Cost	37,820	0
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activity	68,354	68,015
Cash paid during the period for income taxes	3,091	1,987
Interest cost capitalized	588	2,396
Change in accrued capital expenditures	$ (5,260)	$ (4,791)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Real Estate Investment Property, Net	$ 4,953,959	$ 4,494,259
Land held for development	20,168	20,168
Property under development	10,046	54,905
Operating Lease, Right-of-Use Asset	199,192	170,755
Financing Receivable, after Allowance for Credit Loss, Current	616,881	679,254
Investment in joint ventures	8,693	12,316
Cash and cash equivalents	16,197	90,577
Restricted cash	4,388	8,071
Accounts receivable, net	111,421	97,855
Other assets	111,168	71,602
Total assets	6,052,113	5,699,762
Liabilities:
Accounts payable and accrued liabilities	78,750	99,392
Operating Lease, Liability	231,884	204,747
Dividends Payable, Current	23,730	22,463
Preferred dividends payable	6,032	6,032
Unearned rents and interest	109,280	108,546
Debt	3,293,013	2,929,411
Total liabilities	$ 3,742,689	$ 3,370,591
Equity:
Common Stock, Shares, Issued	84,891,471	84,239,580
Common Stock, Value, Issued	$ 849	$ 842
Additional paid-in-capital	3,995,696	3,978,093
Treasury Stock, Value	(308,561)	(295,290)
Accumulated other comprehensive income	(771)	1,037
Distributions in excess of net income	1,377,937	1,355,659
Total equity	2,309,424	2,329,171
Total liabilities and equity	$ 6,052,113	$ 5,699,762
Series C Preferred Shares [Member]
Equity:
Preferred Shares, shares issued	5,392,616	5,392,616
Preferred shares	$ 54	$ 54
Series E Preferred Shares [Member]
Equity:
Preferred Shares, shares issued	3,445,980	3,445,980
Preferred shares	$ 34	$ 34
Series G Preferred Stock [Member]
Equity:
Preferred Shares, shares issued	6,000,000	6,000,000
Preferred shares	$ 60	$ 60