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Epr Properties (EPR) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Epr Properties

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CIK: 1045450 Ticker: EPR
Exhibit 99.1





EPR PROPERTIES REPORTS FIRST QUARTER 2017 RESULTS

Kansas City, MO, May 2, 2017 -- EPR Properties (NYSE:EPR) today announced operating results for the first quarter ended March 31, 2017.
    
•
Total revenue was $129.1 million for the first quarter of 2017, representing a 9% increase from $118.8 million for the same quarter in 2016.
•
Net income available to common shareholders was $48.0 million, or $0.75 per diluted common share, for the first quarter of 2017 compared to $48.2 million, or $0.77 per diluted common share, for the same quarter in 2016.
•
Funds From Operations (FFO) (a non-GAAP financial measure) for the first quarter of 2017 was $73.9 million, or $1.15 per diluted common share, compared to $73.8 million, or $1.17 per diluted common share, for the same quarter in 2016.
•
FFO as adjusted (a non-GAAP financial measure) for the first quarter of 2017 was $76.5 million, or $1.19 per diluted common share, compared to $73.7 million, or $1.17 per diluted common share, for the same quarter in 2016, representing a 2% increase in per share results.

“We began 2017 with another quarter of consistent growth, demonstrating the earnings power of our differentiated portfolio,” commented Company President and CEO Greg Silvers. “Subsequent to quarter end, we closed on the CNL Lifestyle Properties transaction, and are excited to add more than $700 million of high quality ski and attraction properties to our recreation segment. We remain confident in our outlook, with a healthy growth pipeline that is positively aligned with the ongoing strength in the experience economy.”

A reconciliation of FFO to FFO as adjusted follows (unaudited, dollars in thousands, except per share amounts):
 
 
Three Months Ended March 31,
 
 
2017
 
2016
 
 
Amount
 
FFO/share
 
Amount
 
FFO/share
FFO available to common shareholders (1)
$
73,894

 
$
1.15

 
$
73,795

 
$
1.17

 
Costs associated with loan refinancing or payoff
5

 
—

 
552

 
0.01

 
Gain on insurance recovery (included in other income)
—

 
—

 
(489
)
 
(0.01
)
 
Termination fee included in gain on sale
1,920

 
0.03

 
—

 
—

 
Transaction costs
57

 
—

 
444

 
0.01

 
Deferred income tax expense (benefit)
634

 
0.01

 
(602
)
 
(0.01
)
FFO as adjusted available to common shareholders (1)
$
76,510

 
$
1.19

 
$
73,700

 
$
1.17

 
 
 
 
 
 
 
 
 
Dividends declared per common share
 
 
$
1.02

 
 
 
$
0.96

FFO as adjusted available to common shareholders payout ratio
 
 
86
%
 
 
 
82
%
 
 
 
 
 
 
 
 
 
(1)
Per share results for the three months ended March 31, 2017 and 2016 include the effect of the conversion of the 5.75% Series C cumulative convertible preferred shares as the conversion would be dilutive.

Portfolio Update

The Company's investment portfolio (excluding property under development) consisted of the following at March 31, 2017:

•
The Entertainment segment included investments in 142 megaplex theatre properties, eight entertainment retail centers (which include eight additional megaplex theatre properties) and eight family entertainment centers. The Company’s portfolio of owned entertainment properties consisted of 12.5 million square feet and was 99% leased, including megaplex theatres that were 100% leased.

•
The Education segment included investments in 67 public charter schools, 53 early education centers and 13 private schools. The Company’s portfolio of owned education properties consisted of 4.3 million square feet and was 99% leased.

The following information was filed by Epr Properties (EPR) on Tuesday, May 2, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Epr Properties's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Changes In Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Accounts Receivable, Net
Accounts Receivable, Net (schedule Of Accounts Receivable) (details)
Accounts Receivable, Net (tables)
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements (condensed Consolidating Balance Sheet) (details)
Condensed Consolidating Financial Statements (condensed Consolidating Statement Of Cash Flows) (details)
Condensed Consolidating Financial Statements (condensed Consolidating Statement Of Income) (details)
Condensed Consolidating Financial Statements (tables)
Debt And Capital Markets (schedule Of Long-term Debt Instruments) (details)
Derivative Instruments
Derivative Instruments (narrative) (details)
Derivative Instruments (summary Of The Effect Of Derivative Instruments On The Consolidated Statements Of Changes In Equity And Income) (details)
Derivative Instruments (tables)
Earnings Per Share
Earnings Per Share (computation Of Basic And Diluted Earnings Per Share) (details)
Earnings Per Share (narrative) (details)
Earnings Per Share (tables)
Equity Incentive Plans
Equity Incentive Plans (summary Of Exercisable Options) (details)
Equity Incentive Plans (summary Of Nonvested Share Activity) (details)
Equity Incentive Plans (summary Of Outstanding Options) (details)
Equity Incentive Plans (summary Of Restricted Share Unit Activity) (details)
Equity Incentive Plans (summary Of Share Option Activity) (details)
Equity Incentive Plans (tables)
Fair Value Disclosures
Fair Value Disclosures (assets And Liabilities Measured At Fair Value On A Recurring Basis) (details)
Fair Value Disclosures (narrative) (details)
Fair Value Disclosures (tables)
Investments And Dispositions
Investments And Dispositions (details)
Investments In Direct Financing Lease
Investments In Direct Financing Lease (future Minimum Rentals Receivable) (details)
Investments In Direct Financing Lease (narrative) (details)
Investments In Direct Financing Lease (summary Of Carrying Amounts Of Investment In Direct Financing Lease, Net) (details)
Investments In Direct Financing Lease (tables)
Long-term Debt
Organization
Other Commitments And Contingencies
Other Commitments And Contingencies (details)
Rental Properties
Rental Properties (summary Of Carrying Amounts Of Rental Properties) (details)
Rental Properties (tables)
Segment Information
Segment Information (tables)
Segment Information Balance Sheet Data (details)
Segment Information Operating Data (details)
Subsequent Events (details)
Subsequent Events (notes)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policy)
Variable Interest Entities
Variable Interest Entities (narrative) (details)
Ticker: EPR
CIK: 1045450
Form Type: 10-Q Quarterly Report
Accession Number: 0001045450-17-000046
Submitted to the SEC: Tue May 02 2017 5:59:25 PM EST
Accepted by the SEC: Wed May 03 2017
Period: Friday, March 31, 2017
Industry: Real Estate Investment Trusts

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