EPR Properties Q1 AFFO rises; ups FY forecast

EPR Properties

06/05/2026 21:43

Overview

U.S. experiential REIT's preliminary Q1 revenue rose 3.6% yr/yr; net income declined 5.3%

AFFO per share for Q1 increased 6.6% from prior year

Company raised 2026 earnings and investment spending guidance

Outlook

EPR Properties raises 2026 FFOAA per diluted share guidance to $5.37-$5.53 from $5.28-$5.48

Company increases 2026 investment spending guidance to $500 mln-$600 mln from $400 mln-$500 mln

EPR Properties expects disposition proceeds in 2026 of $50 mln-$100 mln, up from $25 mln-$75 mln

Result Drivers

INVESTMENT ACTIVITY - Co said Q1 investment spending totaled $51.3 mln, including acquisition of a fitness & wellness property and experiential development projects

PROPERTY ACQUISITIONS - Co completed acquisition of six U.S. attraction properties from Six Flags after quarter-end, forming majority of $315 mln portfolio investment

MORTGAGE CONVERSION - Co exercised purchase option to convert $70 mln mortgage note into wholly-owned rental property, recognizing $1 mln gain and $1.3 mln credit loss benefit

Company press release: ID:nBw9gkn2na

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$181.25 mln
Q1 Net Income
$56.58 mln
Q1 Adjusted FFO Per Share
$1.29
Q1 Operating Income
$100.62 mln
Q1 Pretax Profit
$63.22 mln
Q1 Property Operating Expenses
$15.35 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the diversified reits peer group is "buy."

Wall Street's median 12-month price target for EPR Properties is $59.00, about 5.4% above its May 5 closing price of $55.99

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)