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Epr Properties (EPR) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Epr Properties

CIK: 1045450 Ticker: EPR

Exhibit 99.1




EPR PROPERTIES REPORTS FOURTH QUARTER AND 2019 YEAR-END RESULTS
Announces Increase in Monthly Dividend and Introduces Guidance for 2020

Kansas City, MO, February 24 , 2020 -- EPR Properties (NYSE:EPR) today announced operating results for the fourth quarter and year ended December 31, 2019 (dollars in millions, except per share data):    
 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Total revenue from continuing operations (1)
$
170.3

 
$
150.9

 
$
652.0

 
$
639.9

Net income available to common shareholders
30.3

 
48.0

 
178.1

 
242.8

Net income available to common shareholders per diluted common share
0.39

 
0.65

 
2.32

 
3.27

Funds From Operations as adjusted (FFOAA) (a non-GAAP financial measure)
99.7

 
105.1

 
423.2

 
460.4

FFOAA per diluted common share (a non-GAAP financial measure)
1.26

 
1.39

 
5.44

 
6.10

(1) Total revenue from continuing operations for the three months and year ended December 31, 2018 included $4.0 million and $71.3 million, respectively, in prepayment fees related to the pay-off of non-Education mortgage notes.

Fourth Quarter Company Headlines

Experiential focus announced in November in conjunction with sale of public charter school portfolio
Solid fourth quarter caps off another highly productive year
Guidance introduced for 2020; Significant capital redeployment anticipated
Monthly dividend increase for common shares announced

CEO Comments

“We had a strong finish to a very productive year,” stated Greg Silvers, President and CEO. “The sale of our public charter school portfolio marked a milestone in refocusing our growth on experiential real estate, which allows us to capitalize on both our extensive history in this sector and the trend of increasing consumer experiential spending. The ongoing durability in our tenant industries offers earnings stability and substantial growth opportunities, positioning us to continue building the premier experiential real estate portfolio.”

Portfolio Update

As previously announced and further described below, during the fourth quarter, the Company sold the largest portion of its Education portfolio, public charter schools, and is now strategically focused on investing in Experiential properties which the Company believes is a highly enduring and growing sector of the real estate industry. With this change, the Company now classifies its Entertainment and Recreation portfolios as Experiential while its remaining Education portfolio consists primarily of traditional net leases providing additional geographic and operator diversity. The Company's total investments (a non-GAAP financial measure) were approximately $6.7 billion at December 31, 2019 with Experiential totaling $6.0 billion, or 89%, and Education totaling $0.7 billion, or 11%.

The Company's Experiential portfolio (excluding property under development) consisted of the following property types (owned or financed) at December 31, 2019:
179 theatre properties;
55 eat & play properties (including seven theatres located in entertainment districts);
18 attraction properties;
13 ski properties;
six experiential lodging properties;
one gaming property;


The following information was filed by Epr Properties (EPR) on Monday, February 24, 2020 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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Inside Epr Properties's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Schedule Iii - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation Properties (Details)
Schedule Iii - Real Estate And Accumulated Depreciation Reconciliation (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Changes In Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Income And Comprehensive Income
Accounts Receivable, Net
Accounts Receivable, Net (Schedule Of Accounts Receivable) (Details)
Accounts Receivable, Net (Tables)
Common And Preferred Share (Tables)
Common And Preferred Shares
Common And Preferred Shares Common Shares (Details)
Common And Preferred Shares Preferred Shares (Details)
Debt Schedule Of Long-Term Debt Instruments (Details)
Debt Schedule Of Long-Term Debt Instruments (Tables)
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)
Discontinued Operations
Discontinued Operations (Operating Results Relating To Assets Disposed) (Details)
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 (Schedule Of Stock-Option Expense To Be Recognized In The Future) (Details)
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)
Equity Incentive Plans Equity Incentive Plans (Schedule Of Nonvested Shares Unamortized Share-Based Compensation Expense To Be Recognized In The Future) (Details)
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)
Impairment Charges (Details)
Impairment Charges (Notes)
Investment In Mortgage Notes
Investment In Mortgage Notes (Details)
Investment In Mortgage Notes (Tables)
Investments In Direct Financing Leases
Investments In Direct Financing Leases (Narrative) (Details)
Investments In Direct Financing Leases (Summary Of Carrying Amounts Of Investment In Direct Financing Lease, Net) (Details)
Investments In Direct Financing Leases (Tables)
Long-Term Debt
Operating Leases
Operating Leases (Details)
Operating Leases (Tables)
Organization
Other Commitments And Contingencies
Other Commitments And Contingencies (Details)
Quarterly Financial Information
Quarterly Financial Information (Details)
Quarterly Financial Information (Tables)
Rental Properties
Rental Properties (Tables)
Rental Properties Disposition (Details)
Rental Properties Summary Of Carrying Amounts Of Rental Properties (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Severance Expense (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policy)
Summary Of Significant Accounting Policies Deferred Tax Assets (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)
Unconsolidated Real Estate Joint Ventures (Narrative) (Details)
Unconsolidated Real Estate Joint Ventures (Tables)
Ticker: EPR
CIK: 1045450
Form Type: 10-K Annual Report
Accession Number: 0001045450-20-000019
Submitted to the SEC: Tue Feb 25 2020 10:28:25 AM EST
Accepted by the SEC: Tue Feb 25 2020
Period: Tuesday, December 31, 2019
Industry: Real Estate Investment Trusts

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