Epr Properties (EPR) 10-K Annual Report Fri Feb 28 2014

Kansas City, MO, February 27, 2014 -- EPR Properties (NYSE:EPR) today announced operating results for the fourth quarter and the year ended December 31, 2013.

Three Months Ended December 31, 2013


•	Total revenue was $89.4 million for the fourth quarter of 2013, representing an 8% increase from $82.5 million for the same quarter in 2012.


•	Net income available to common shareholders was $57.1 million, or $1.12 per diluted common share, for the fourth quarter of 2013 compared to $18.8 million, or $0.40 per diluted common share, for the same quarter in 2012.


•	Funds From Operations (FFO) for the fourth quarter of 2013 was $63.3 million, or $1.23 per diluted common share, compared to $41.0 million, or $0.87 per diluted common share, for the same quarter in 2012.


•	FFO as adjusted for the fourth quarter of 2013 was $49.6 million, or $0.97 per diluted common share, compared to $45.1 million, or $0.96 per diluted common share, for the same quarter in 2012.

Year Ended December 31, 2013


•	Total revenue was $343.1 million for the year ended December 31, 2013, representing an 8% increase from $317.8 million for the same period in 2012.


•	Net income available to common shareholders was $156.4 million, or $3.24 per diluted common share, for the year ended December 31, 2013, compared to $93.2 million, or $1.98 per diluted common share, for the same period in 2012.


•	FFO for the year ended December 31, 2013 was $199.4 million, or $4.13 per diluted common share, compared to $168.8 million, or $3.59 per diluted common share, for the same period in 2012.


•	FFO as adjusted for the year ended December 31, 2013 was $188.2 million, or $3.90 per diluted common share, compared to $173.8 million, or $3.69 per diluted common share, for the same period in 2012, an increase of 6% per share.

David Brain, President and CEO, commented, “The fourth quarter topped a year of consistently strong performance across all aspects of the business. Our continued focus on non-commodity growth segments enabled a 35% investment spending increase over the prior year, solid growth in per share results and one year total shareholder return that significantly outperformed the MSCI U.S. REIT Index. Additionally, we believe that we are well positioned to continue this strong trajectory over the next several years, and for 2014 we are off to a great start having previously announced an increase in our monthly dividend of over 8%.”

A reconciliation of FFO to FFO as adjusted follows (unaudited, dollars in thousands, except per share amounts):



		Three Months Ended December 31,
		2013						2012
		Amount			FFO/share			Amount		FFO/share

FFO		$	63,290		$	1.23		$	41,037	$	0.87
	Costs associated with loan refinancing or payoff	—			—			150		—
	Transaction costs	1,096			0.02			31		—
	Preferred share redemption costs	—			—			3,888		0.09
	Deferred income tax benefit ⁽¹⁾	(14,787		)	(0.28		)	—		—
FFO as adjusted		$	49,599		$	0.97		$	45,106	$	0.96

Dividends declared per common share					$	0.79				$	0.75
FFO as adjusted payout ratio					81		%			78		%

The following information was filed by Epr Properties (EPR) on Thursday, February 27, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Epr Properties provided additional information to their SEC Filing as exhibits

Exhibit 12.1: Computation Of Ratio Of Earnings To Fixed Charges

Exhibit 12.2: Computation Of Ratio Of Earnings To Combined Fixed Charges

Exhibit 21: Subsidiaries Of The Company

Exhibit 23: Consent Of Kpmg Llp

Exhibit 31.1: Certification Of David M. Brain Pursuant To Section 302

Exhibit 31.2: Certification Of Mark A. Peterson Pursuant To Section 302

Exhibit 32.1: Certification By Ceo Pursuant To 18 Usc 1350

Exhibit 32.2: Certification Of Cfo Pursuant To 18 Usc 1350

Ticker: EPR
CIK: 1045450
Form Type: 10-K Annual Report
Accession Number: 0001045450-14-000021
Submitted to the SEC: Fri Feb 28 2014 2:33:12 PM EST
Accepted by the SEC: Fri Feb 28 2014
Period: Tuesday, December 31, 2013
Industry: Real Estate Investment Trusts