Tearsheet

EPR Properties (EPR)


Market Price (2/16/2026): $58.66 | Market Cap: $4.5 Bil
Sector: Real Estate | Industry: Other Specialized REITs

EPR Properties (EPR)


Market Price (2/16/2026): $58.66
Market Cap: $4.5 Bil
Sector: Real Estate
Industry: Other Specialized REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 55%
Trading close to highs
Dist 52W High is -0.7%, Dist 3Y High is -0.7%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 66%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 63%
  Key risks
EPR key risks include [1] its high concentration in the volatile experiential real estate sector with a few major tenants, Show more.
2 Attractive yield
FCF Yield is 9.3%
  
3 Low stock price volatility
Vol 12M is 24%
  
4 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
  
0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 55%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 63%
2 Attractive yield
FCF Yield is 9.3%
3 Low stock price volatility
Vol 12M is 24%
4 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
5 Trading close to highs
Dist 52W High is -0.7%, Dist 3Y High is -0.7%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 66%
7 Key risks
EPR key risks include [1] its high concentration in the volatile experiential real estate sector with a few major tenants, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

EPR Properties (EPR) stock has gained about 20% since 10/31/2025 because of the following key factors:

1. Consistent and Attractive Dividend Payouts. EPR Properties maintained a steady monthly cash dividend of $0.295 per common share throughout the period, with announcements made on October 15, 2025, December 15, 2025, and January 14, 2026. This stability, combined with a strong dividend yield (e.g., 6.29% annually as of January 14, 2026), likely appealed to income-focused investors, bolstering stock demand. An earlier 3.5% increase in its monthly dividend, announced in April 2025, also carried positive sentiment into the analysis period.

2. Strategic Portfolio Rebalancing and Diversification. The company actively pursued a strategy of rebalancing its portfolio by reducing exposure to theaters while increasing investments in other experiential property types. EPR Properties aimed for $400-$500 million in investments by 2026 and announced significant asset dispositions, including $113 million in sale-leaseback transactions in December 2025 and divesting $133.8 million worth of assets as of Q3 2025. This strategic shift, coupled with a high occupancy rate of 99% (excluding assets for sale) and an improved lease coverage ratio of 2.0x in Q3 2025, signaled reduced risk and a healthier financial outlook for its tenants and operations.

Show more

Stock Movement Drivers

Fundamental Drivers

The 21.4% change in EPR stock from 10/31/2025 to 2/15/2026 was primarily driven by a 21.4% change in the company's P/E Multiple.
(LTM values as of)103120252152026Change
Stock Price ($)48.1958.4921.4%
Change Contribution By: 
Total Revenues ($ Mil)6636630.0%
Net Income Margin (%)30.1%30.1%0.0%
P/E Multiple18.422.321.4%
Shares Outstanding (Mil)76760.0%
Cumulative Contribution21.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/15/2026
ReturnCorrelation
EPR21.4% 
Market (SPY)-0.0%-3.2%
Sector (XLRE)6.4%43.0%

Fundamental Drivers

The 9.9% change in EPR stock from 7/31/2025 to 2/15/2026 was primarily driven by a 9.9% change in the company's Net Income Margin (%).
(LTM values as of)73120252152026Change
Stock Price ($)53.2258.499.9%
Change Contribution By: 
Total Revenues ($ Mil)6566631.1%
Net Income Margin (%)27.4%30.1%9.9%
P/E Multiple22.522.3-1.0%
Shares Outstanding (Mil)7676-0.1%
Cumulative Contribution9.9%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/15/2026
ReturnCorrelation
EPR9.9% 
Market (SPY)8.2%8.3%
Sector (XLRE)5.8%42.5%

Fundamental Drivers

The 35.6% change in EPR stock from 1/31/2025 to 2/15/2026 was primarily driven by a 36.6% change in the company's P/E Multiple.
(LTM values as of)13120252152026Change
Stock Price ($)43.1358.4935.6%
Change Contribution By: 
Total Revenues ($ Mil)6376634.2%
Net Income Margin (%)31.4%30.1%-4.2%
P/E Multiple16.322.336.6%
Shares Outstanding (Mil)7676-0.5%
Cumulative Contribution35.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/15/2026
ReturnCorrelation
EPR35.6% 
Market (SPY)14.3%44.4%
Sector (XLRE)7.5%65.4%

Fundamental Drivers

The 71.8% change in EPR stock from 1/31/2023 to 2/15/2026 was primarily driven by a 55.8% change in the company's P/E Multiple.
(LTM values as of)13120232152026Change
Stock Price ($)34.0558.4971.8%
Change Contribution By: 
Total Revenues ($ Mil)59566311.6%
Net Income Margin (%)30.0%30.1%0.3%
P/E Multiple14.322.355.8%
Shares Outstanding (Mil)7576-1.5%
Cumulative Contribution71.8%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/15/2026
ReturnCorrelation
EPR71.8% 
Market (SPY)74.0%43.5%
Sector (XLRE)17.6%69.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
EPR Return51%-15%39%-1%21%16%145%
Peers Return38%-1%6%5%6%7%73%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
EPR Win Rate75%42%67%58%50%100% 
Peers Win Rate63%47%48%60%53%90% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
EPR Max Drawdown-5%-22%-8%-16%-1%0% 
Peers Max Drawdown-5%-21%-16%-10%-8%-1% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VICI, GLPI, O, SPG, NNN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/13/2026 (YTD)

How Low Can It Go

Unique KeyEventEPRS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-36.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven57.5%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven974 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-81.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven425.6%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-31.4%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven45.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven396 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-81.5%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven440.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven2,613 days1,480 days

Compare to VICI, GLPI, O, SPG, NNN

In The Past

EPR Properties's stock fell -36.5% during the 2022 Inflation Shock from a high on 8/15/2022. A -36.5% loss requires a 57.5% gain to breakeven.

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About EPR Properties (EPR)

EPR Properties is a leading experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have nearly $6.7 billion in total investments across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns.

AI Analysis | Feedback

Here are 1-2 brief analogies for EPR Properties:

  • Like a Simon Property Group for entertainment venues and experiential properties (e.g., movie theaters, Topgolf, ski resorts).
  • Think of it as the Prologis for fun – owning the real estate behind many experiential and entertainment destinations.

AI Analysis | Feedback

EPR Properties is a Real Estate Investment Trust (REIT) focused on experiential properties. Its major products are the provision of leased real estate for specific categories of businesses.
  • Experiential Entertainment Properties: Provides specialized real estate for lease to businesses operating movie theaters, family entertainment centers, and other entertainment venues.
  • Recreation Properties: Offers properties for lease to operators of ski resorts, Topgolf facilities, and other recreational attractions.
  • Experiential Lodging Properties: Leases real estate for hotels and resorts that cater to leisure and experience-seeking travelers.
  • Education Properties: Supplies real estate for private schools and early childhood education centers under long-term leases.

AI Analysis | Feedback

EPR Properties (symbol: EPR) is a Real Estate Investment Trust (REIT) that specializes in experiential real estate. As a REIT, EPR's business model involves owning and leasing properties to operators. Therefore, its major customers are the companies that lease its properties (its tenants), not individuals.

According to EPR Properties' latest filings and investor presentations (as of early 2024), no single tenant accounts for more than 10% of its total revenue. However, the following companies represent some of its largest tenants by contractual rent, and thus can be considered its major customers:

  • AMC Entertainment Holdings, Inc. (symbol: AMC)
  • Topgolf (a subsidiary of Callaway Golf Company, symbol: MODG)
  • Cinemark Holdings, Inc. (symbol: CNK)
  • Regal (a subsidiary of Cineworld Group plc, which is a private company)

AI Analysis | Feedback

The major suppliers for EPR Properties are primarily financial institutions that provide capital and credit facilities, and their external advisor for management services.

  • EPR Management LLC (private)
  • Bank of America (symbol: BAC)
  • Wells Fargo (symbol: WFC)
  • JPMorgan Chase & Co. (symbol: JPM)

AI Analysis | Feedback

Greg Silvers, Chairman and Chief Executive Officer
Appointed CEO in February 2015 and Chairman in May 2022. He joined EPR Properties in 1998, having previously been involved with the company's initial public offering as an attorney at the law firm handling the transaction. Throughout his tenure at EPR, he has served in various leadership roles, including Chief Operating Officer and Chief Development Officer. He played a significant role in positioning the company as a leader in real estate capital for public charter schools. Prior to EPR, he was an Associate in the Real Estate Department at Stinson, Mag & Fizzell and a System Engineer at Volume Shoe Corporation and Electronic Data Systems.

Mark Peterson, Executive Vice President, Chief Financial Officer and Treasurer
Serves as Chief Financial Officer and Treasurer since 2006 and was appointed Executive Vice President in 2015. He joined EPR Properties in 2004. Before joining EPR, Mr. Peterson was with American Italian Pasta Company as Vice President of Accounting and Finance. Notably, he served as Chief Financial Officer of J.C. Nichols Company from 1995 until its acquisition by Highwoods Properties, Inc. in 1998.

Ben Fox, Chief Investment Officer
Referred to as the "new CIO" in a September 2025 conference. He brings a "long storied history in the industry," with prior experience at Realty Income and Aries.

Greg Zimmerman, Executive Vice President
Previously served as Executive Vice President and Chief Investment Officer. He is responsible for leading and managing the investments team, overseeing new investment origination, underwriting, and closing activities. His prior roles include attorney at Venable LLP, Senior VP:Bigbox at SIMON PROPERTY GROUP INC, Executive VP:Development at WASHINGTON PRIME GROUP INC., and VP:Real Estate at Macerich.

Tonya L. Mater, Senior Vice President and Chief Accounting Officer
Appointed Chief Accounting Officer in September 2015 and Senior Vice President in 2012. She joined EPR Properties in 2002, having held various roles within the accounting department, including Controller from 2006 to 2012. Prior to joining EPR, she worked as an auditor with KPMG and Mayer Hoffman McCann P.C.

AI Analysis | Feedback

The key risks to EPR Properties' business primarily stem from its specialized focus on experiential real estate, sensitivity to economic factors impacting its tenants, and the broader financial environment for real estate investment trusts (REITs).

  1. Exposure to Experiential Real Estate Industry and Tenant Concentration: EPR Properties specializes in experiential properties such as movie theaters, ski resorts, and entertainment venues, making it highly susceptible to shifts in consumer discretionary spending and broader economic downturns. The theatre segment, in particular, has faced challenges due to production delays and long-term trends like online streaming, affecting box office revenues. Furthermore, the company has a notable tenant concentration, with a few major tenants generating a significant portion of its rental income, exposing EPR to substantial revenue loss if these tenants experience financial difficulties or fail to meet lease obligations.

  2. Interest Rate Fluctuations and Cost of Capital: As a real estate investment trust, EPR Properties is significantly impacted by changes in interest rates. Rising interest rates increase the company's cost of capital for new investments and development projects, thereby affecting its growth prospects and overall profitability. Higher borrowing expenses can dampen acquisition strategies and impact the valuation of its existing assets.

  3. Climate Change Impacts on Properties: Climate change presents physical risks to EPR Properties' diverse portfolio, particularly affecting assets vulnerable to weather patterns, such as ski resorts and coastal attractions. Unpredictable weather, including reduced snowfall and increased extreme weather events, can lead to shorter operating seasons, property damage claims, and higher insurance premiums, directly impacting the revenue and operational costs of these properties.

AI Analysis | Feedback

The rise of high-fidelity virtual and augmented reality (VR/AR) experiences represents an emerging threat to EPR Properties. As VR/AR technology advances, becoming more immersive, accessible, and sophisticated, it increasingly offers compelling entertainment and social experiences from home or dedicated virtual spaces. This technology has the potential to compete directly for consumer leisure time and discretionary spending that would otherwise be allocated to physical experiential venues, such as movie theaters, entertainment centers, and other recreational properties in EPR's portfolio. While not yet a mainstream substitute for all physical experiences, the continued emergence and development of VR/AR platforms, as evidenced by products like the Meta Quest series and Apple Vision Pro, present a clear and growing alternative that could erode demand for traditional out-of-home entertainment.

AI Analysis | Feedback

EPR Properties (symbol: EPR) specializes in owning and leasing "experiential properties" across various market segments in the United States. While the company broadly identifies its addressable market for experiential properties as over $100 billion, specific market sizes for its main product categories in the U.S. include:
  • Movie Theaters: The U.S. movie theater market size is projected to be $16.0 billion in 2025. Another estimate places the U.S. movie theater revenue at USD 14.9 billion in 2024. The broader U.S. movie market, which includes streaming, was valued at $23.44 billion in 2024 and is expected to reach $34.64 billion by 2033.
  • Ski Resorts: The market size for Ski & Snowboard Resorts in the U.S. is estimated at $4.2 billion in 2025. Another report projects the U.S. mountain and ski resort industry to grow from an estimated USD 3.6 billion in 2025 to USD 8.1 billion by 2035.
  • Amusement Parks & Attractions: The U.S. Amusement and Theme Park Industry is valued at $24.6 billion in 2025 and is forecast to reach $29.22 billion by 2030. Other estimates for the U.S. amusement and theme park market size include approximately USD 19.64 billion in 2024, growing to USD 32.30 billion by 2034, and USD 23.40 billion in 2024, with a projection to reach USD 36.60 billion by 2035.
  • Eat & Play Venues: The U.S. industry for Arcade, Food & Entertainment Complexes, which aligns with EPR's "Eat & Play" segment, is estimated to have a market size of $6.1 billion in 2025. The U.S. family/indoor entertainment centers market was valued at $5,248.87 million in 2024 and is estimated to reach $10,555.24 million by 2034.
  • Experiential Lodging: The U.S. hotels market size was estimated at USD 263.21 billion in 2024 and is projected to grow to USD 395.69 billion by 2030. The U.S. hospitality market is valued at USD 247.45 billion in 2025 and is forecast to reach USD 313.87 billion by 2030. The U.S. luxury hotel market alone was valued at USD 27.1 billion in 2024 and is expected to reach USD 43.9 billion by 2033.

AI Analysis | Feedback

EPR Properties (symbol: EPR) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  • Strategic Acquisitions and Diversification into Experiential Assets: EPR Properties plans to continue its acquisition strategy, targeting an annual acquisition run rate of $500 million, with a strong focus on experiential assets beyond traditional theaters. The company aims to diversify its portfolio, reducing the theater composition to 20%, and is actively investing in new experiential properties.
  • Contractual Rent Escalators: The company anticipates rent escalators to be slightly above 2% across its portfolio. A notable example is a $6 million annual rent increase from AMC, effective July 1st, contributing to consistent revenue growth.
  • Increased Investment in Experiential Development and Redevelopment Projects: EPR has committed over $100 million for experiential development and redevelopment projects that will be deployed over the next 15 months. The company has narrowed its 2025 investment spending guidance to a range of $225 million to $275 million and plans to accelerate this spending to between $400 million and $500 million in 2026.
  • Growth in Percentage Rents from Improved Box Office Performance: Despite some quarterly fluctuations, the North American box office for calendar year 2025 is projected to increase by approximately 6% at the midpoint compared to 2024. This recovery is expected to lead to higher percentage rents, particularly from theater tenants, which the company views as having strong future upside.
  • Targeted Growth in Specific Experiential Segments: EPR Properties is seeing strong momentum and investment potential in specific experiential categories. This includes the hot springs sector, the expansion of "Eat & Play" venues like Andretti Garden and Pinstack, and growth within its experiential lodging and ski property portfolios.

AI Analysis | Feedback

Share Repurchases

  • EPR Properties authorized a limited share repurchase program in March 2020 in response to market dislocation.

Share Issuance

  • EPR Properties plans to finalize a new At-the-Market (ATM) program in Q4 2025, which will provide an additional tool for raising equity capital.
  • The company's 2025 guidance assumes no equity issuance.

Outbound Investments

  • Year-to-date investment spending through Q3 2025 totaled $140.8 million, with Q3 2025 spending at $54.5 million.
  • The company has committed approximately $100.0 million for experiential development and redevelopment projects, expected to be funded over the next 15 months.
  • EPR Properties anticipates materially accelerating investment spending to a range of $400 million to $500 million in 2026, focusing on expanding its experiential properties.

Capital Expenditures

  • Investment spending guidance for 2025 was narrowed to a range of $225.0 million to $275.0 million.
  • Year-to-date through Q3 2025, investment spending was $140.8 million, primarily directed towards experiential assets such as fitness and wellness properties, attractions, and eat & play venues.
  • The company is actively pursuing a capital recycling strategy by disposing of non-core theatre and education assets, with disposition proceeds guidance for 2025 increased to $150.0 million to $160.0 million.

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Financials

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
Mkt Price58.4929.3046.4065.66196.8344.3452.45
Mkt Cap4.531.313.160.064.38.422.2
Rev LTM6633,9691,5775,6126,1559262,773
Op Inc LTM3653,6751,1462,5643,1205681,855
FCF LTM4162,4609973,7633,1216671,729
FCF 3Y Avg4182,2859793,3183,0666381,632
CFO LTM4162,4621,0793,7634,0186671,770
CFO 3Y Avg4182,2891,0303,3183,8706381,660

Growth & Margins

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
Rev Chg LTM4.2%4.3%4.4%14.7%4.2%6.6%4.4%
Rev Chg 3Y Avg3.9%23.5%7.4%21.5%5.7%6.2%6.8%
Rev Chg Q4.3%4.4%3.2%9.1%8.2%9.1%6.3%
QoQ Delta Rev Chg LTM1.1%1.1%0.8%2.1%2.0%2.2%1.5%
Op Mgn LTM54.9%92.6%72.7%45.7%50.7%61.3%58.1%
Op Mgn 3Y Avg56.7%93.4%73.6%42.6%50.4%61.9%59.3%
QoQ Delta Op Mgn LTM-1.4%-0.2%3.9%1.1%-0.3%-0.2%-0.2%
CFO/Rev LTM62.7%62.0%68.4%67.1%65.3%72.0%66.2%
CFO/Rev 3Y Avg63.9%61.2%68.7%69.5%66.1%73.0%67.4%
FCF/Rev LTM62.7%62.0%63.2%67.1%50.7%72.0%63.0%
FCF/Rev 3Y Avg63.9%61.0%65.4%69.5%52.3%73.0%64.6%

Valuation

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
Mkt Cap4.531.313.160.064.38.422.2
P/S6.77.98.310.710.49.08.7
P/EBIT13.68.511.128.018.214.113.8
P/E22.311.216.962.428.621.521.9
P/CFO10.712.712.215.916.012.612.6
Total Yield4.5%14.7%12.4%6.4%4.2%9.9%8.2%
Dividend Yield0.0%5.8%6.5%4.8%0.7%5.3%5.0%
FCF Yield 3Y Avg11.6%7.4%7.6%7.2%5.7%8.4%7.5%
D/E0.70.60.60.50.40.60.6
Net D/E0.70.50.50.50.40.60.5

Returns

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
1M Rtn5.2%1.1%0.1%7.4%6.4%5.5%5.4%
3M Rtn16.0%-1.9%6.1%17.2%9.0%9.1%9.1%
6M Rtn15.0%-7.1%4.0%15.4%16.4%10.5%12.8%
12M Rtn29.5%2.1%2.0%27.4%11.8%16.2%14.0%
3Y Rtn71.7%1.3%6.5%16.9%86.1%12.1%14.5%
1M Excs Rtn8.9%5.4%2.5%10.7%7.3%8.5%7.9%
3M Excs Rtn17.0%-2.4%5.8%17.2%8.6%10.3%9.5%
6M Excs Rtn8.3%-13.1%-1.0%11.1%11.4%5.3%6.8%
12M Excs Rtn18.8%-8.8%-10.6%15.5%-0.5%5.4%2.5%
3Y Excs Rtn4.6%-66.0%-60.4%-50.7%20.3%-54.3%-52.5%

Financials

Segment Financials

Assets by Segment
$ Mil20242023202220212020
Experiential5,1905,1654,9955,1335,307
Education433474505530730
Corporate/Unallocated781203011,041540
Total5,7015,7595,8016,7046,578


Price Behavior

Price Behavior
Market Price$58.49 
Market Cap ($ Bil)4.5 
First Trading Date11/18/1997 
Distance from 52W High-0.7% 
   50 Days200 Days
DMA Price$52.45$52.86
DMA Trendupup
Distance from DMA11.5%10.7%
 3M1YR
Volatility19.1%24.0%
Downside Capture-108.9221.28
Upside Capture-14.7345.05
Correlation (SPY)-11.9%44.3%
EPR Betas & Captures as of 1/31/2026

 1M2M3M6M1Y3Y
Beta-0.43-0.240.090.280.580.65
Up Beta-1.20-0.21-0.130.140.670.63
Down Beta1.370.900.940.770.680.74
Up Capture-49%-61%13%9%38%34%
Bmk +ve Days11223471142430
Stock +ve Days14233865136404
Down Capture-339%-139%-69%9%41%82%
Bmk -ve Days9192754109321
Stock -ve Days6182359111341

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EPR
EPR31.9%24.1%1.09-
Sector ETF (XLRE)6.3%16.5%0.1965.4%
Equity (SPY)14.0%19.4%0.5544.3%
Gold (GLD)74.3%25.3%2.177.5%
Commodities (DBC)7.0%16.7%0.2426.4%
Real Estate (VNQ)7.9%16.6%0.2867.4%
Bitcoin (BTCUSD)-29.8%44.9%-0.6512.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EPR
EPR14.9%27.5%0.52-
Sector ETF (XLRE)6.0%19.0%0.2262.9%
Equity (SPY)13.3%17.0%0.6250.6%
Gold (GLD)22.1%17.0%1.0611.0%
Commodities (DBC)10.5%18.9%0.4420.2%
Real Estate (VNQ)5.2%18.8%0.1867.4%
Bitcoin (BTCUSD)8.3%57.2%0.3720.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EPR
EPR5.7%42.3%0.28-
Sector ETF (XLRE)7.6%20.5%0.3358.7%
Equity (SPY)15.6%17.9%0.7547.4%
Gold (GLD)15.3%15.6%0.823.5%
Commodities (DBC)8.1%17.6%0.3822.5%
Real Estate (VNQ)6.4%20.7%0.2765.1%
Bitcoin (BTCUSD)67.9%66.7%1.0716.9%

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Short Interest

Short Interest: As Of Date1302026
Short Interest: Shares Quantity3.9 Mil
Short Interest: % Change Since 1152026-3.7%
Average Daily Volume0.9 Mil
Days-to-Cover Short Interest4.4 days
Basic Shares Quantity76.1 Mil
Short % of Basic Shares5.2%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/29/2025-6.0%-4.1%2.6%
7/30/2025-2.4%-5.1%-3.6%
5/7/20252.6%3.6%13.0%
2/26/20251.6%4.6%0.5%
10/30/2024-4.0%-5.4%-3.4%
7/31/20240.6%-2.2%4.7%
5/1/20242.5%0.9%0.7%
10/25/20231.0%8.4%13.2%
...
SUMMARY STATS   
# Positive12914
# Negative10138
Median Positive1.7%4.6%10.0%
Median Negative-2.7%-4.4%-4.5%
Max Positive7.0%20.5%62.1%
Max Negative-7.2%-10.1%-67.7%

SEC Filings

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Report DateFiling DateFiling
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/29/202410-K
09/30/202310/26/202310-Q
06/30/202308/03/202310-Q
03/31/202304/27/202310-Q
12/31/202202/23/202310-K
09/30/202211/03/202210-Q
06/30/202208/02/202210-Q
03/31/202205/05/202210-Q
12/31/202102/23/202210-K

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell106202650.077,500375,5382,841,619Form
2Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell1201202552.257,500391,8643,357,018Form
3Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell1104202549.217,500369,0953,635,687Form
4Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell1001202558.127,500435,8654,729,249Form
5Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell902202553.357,500400,1064,741,366Form