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Epr Properties (EPR) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Epr Properties

CIK: 1045450 Ticker: EPR


Exhibit 99.1
pressreleaseheaderlesswhite.jpg

EPR Properties Reports First Quarter 2022 Results
Raises 2022 Earnings Guidance

Kansas City, MO, May 4, 2022 -- EP
R Properties (NYSE:EPR) today announced operating results for the first quarter ended March 31, 2022 (dollars in thousands, except per share data):    
 Three Months Ended March 31,
 20222021
Total revenue$157,472 $111,765 
Net income (loss) available to common shareholders36,159 (2,654)
Net income (loss) available to common shareholders per diluted common share0.48 (0.04)
Funds From Operations as adjusted (FFOAA) (1)83,213 35,605 
FFOAA per diluted common share (1)1.10 0.48 
Adjusted Funds From Operations (AFFO) (1)87,845 38,926 
AFFO per diluted common share (1)1.16 0.52 
(1) A non-GAAP financial measure

First Quarter Company Headlines
Raises Earnings Guidance and Confirms Investment Spending Guidance for 2022 - The Company is raising FFOAA per diluted common share guidance for 2022 from a range of $4.30 to $4.50 to a range of $4.39 to $4.55 and confirming investment spending guidance of a range of $500.0 million to $700.0 million.
Executing on Investment Pipeline - The Company's investment spending during the first quarter and subsequent to quarter-end through May 4, 2022 totaled $90.5 million and consisted of experiential acquisitions, development and redevelopment projects. In addition, the Company continues to execute on its significant investment pipeline and anticipates capital deployment will accelerate into the second half of the year.
Rating Agency Upgrade - During March 2022, Fitch Ratings ("Fitch") issued an investment grade rating on both the Company and its unsecured debt with a stable outlook.
Strong Liquidity Position – In addition to regular quarterly collections, during the first quarter, the Company collected $10.2 million of deferred rent and interest from accrual basis customers that reduced receivables and $1.6 million of deferred rent and interest from cash basis customers that was booked as additional revenue. As of March 31, 2022, the Company had cash on hand of $323.8 million and no borrowings on its $1.0 billion unsecured revolving credit facility.

CEO Comments
"Our ongoing portfolio recovery is evident in our first quarter results and increased earnings outlook, supported by healthy tenant performance. We have restarted our investment program, utilizing our relationships to source attractive acquisition, development and redevelopment projects across our targeted experiential categories,” stated Greg Silvers, President and CEO of EPR Properties. “Our pipeline is ramping meaningfully, and we continue to expect the pace of investment to accelerate into the back half of the year. Furthermore, we have maintained strong liquidity and financial flexibility to execute on this pipeline, and we are pleased that Fitch recognized our stabilization and disciplined leverage with investment grade ratings."



The following information was filed by Epr Properties (EPR) on Wednesday, May 4, 2022 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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Epr Properties's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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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 Income And Comprehensive Income
Accounts Receivable, Net
Accounts Receivable, Net (Schedule Of Accounts Receivable) (Details)
Accounts Receivable, Net (Tables)
Capital Markets (Details)
Capital Markets Issuance Of Shares (Tables)
Capital Markets Long Term Debt (Notes)
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)
Impairment Charges (Notes)
Investment In Mortgage Notes And Notes Receivable (Details)
Investments And Dispositions
Investments And Dispositions (Details)
Leases, Codification Topic 842
Operating Leases (Details)
Organization
Other Commitments And Contingencies
Other Commitments And Contingencies (Details)
Receivables, Loans, Notes Receivable, And Others
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)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policy)
Unconsolidated Real Estate Joint Ventures (Details)
Unconsolidated Real Estate Joint Ventures (Notes)

Material Contracts, Statements, Certifications & more

Epr Properties provided additional information to their SEC Filing as exhibits

Ticker: EPR
CIK: 1045450
Form Type: 10-Q Quarterly Report
Accession Number: 0001045450-22-000055
Submitted to the SEC: Thu May 05 2022 9:13:48 AM EST
Accepted by the SEC: Thu May 05 2022
Period: Thursday, March 31, 2022
Industry: Real Estate Investment Trusts

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