Tearsheet

EPR Properties (EPR)


Market Price (6/29/2026): $59.7 | Market Cap: $4.6 BilSector: Real Estate | Industry: Other Specialized REITs

EPR Properties (EPR)


Market Price (6/29/2026): $59.7
Market Cap: $4.6 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 yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%, FCF Yield is 9.5%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 57%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 64%

Low stock price volatility
Vol 12M is 23%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.

Trading close to highs
Dist 52W High is -0.3%, Dist 3Y High is -0.3%

Weak multi-year price returns
3Y Excs Rtn is -1.6%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.33

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 67%

Key risks
EPR key risks include [1] its high concentration in the volatile experiential real estate sector with a few major tenants, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%, FCF Yield is 9.5%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 57%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 64%
3 Low stock price volatility
Vol 12M is 23%
4 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
5 Trading close to highs
Dist 52W High is -0.3%, Dist 3Y High is -0.3%
6 Weak multi-year price returns
3Y Excs Rtn is -1.6%
7 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.33
8 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 67%
9 Key risks
EPR key risks include [1] its high concentration in the volatile experiential real estate sector with a few major tenants, Show more.

EPR in ETFs

Weight = EPR's share of each fund

VTI0.01%
ITOT0.01%
IWB0.01%
IJH0.13%
VB0.05%
USRT0.36%
SCHH0.31%
VNQ0.27%
+18 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/10/2026

EPR Properties (EPR) stock has remained largely at the same level since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Earnings Performance Coupled with Upgraded Full-Year Guidance.

EPR Properties reported mixed results for fiscal Q1 2026 (ended March 31, 2026). While Adjusted Funds From Operations (AFFO) per share was $1.29, beating analyst estimates by $0.04 and representing a 6.6% year-over-year increase, reported GAAP earnings per share (EPS) of $0.74 missed some consensus estimates by $0.02. Despite the mixed Q1 EPS, the company subsequently increased its fiscal year 2026 FFOAA per diluted common share guidance to a range of $5.37 to $5.53, an increase of 6.5% at the midpoint over 2025, which should have provided a positive outlook. This combination of a strong operational beat in AFFO with a slight GAAP EPS miss, alongside a confidence-boosting guidance raise, likely created a balancing effect on the stock price, preventing a significant upward or downward trend.

2. Strategic Acquisition of Experiential Assets and Increased Investment Outlook.

EPR Properties executed on a significant growth strategy by completing the acquisition of six U.S. attraction properties from Six Flags Entertainment Corporation after fiscal Q1 2026, as part of a $315 million portfolio investment. This marked the company's largest post-COVID acquisition, reinforcing its focus on its experiential portfolio. Furthermore, EPR raised its fiscal year 2026 investment spending guidance to a range of $500.0 million to $600.0 million, up from a previous range of $400.0 million to $500.0 million. While these strategic moves signal positive long-term growth and diversification, the substantial capital outlay and the "wait and see" period for the integration and performance of these new assets may have kept the stock largely stable as investors digested the implications.

Show more
Updated on 6/10/2026

EPR Properties (EPR) stock has remained largely at the same level since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Earnings Performance Coupled with Upgraded Full-Year Guidance.

EPR Properties reported mixed results for fiscal Q1 2026 (ended March 31, 2026). While Adjusted Funds From Operations (AFFO) per share was $1.29, beating analyst estimates by $0.04 and representing a 6.6% year-over-year increase, reported GAAP earnings per share (EPS) of $0.74 missed some consensus estimates by $0.02. Despite the mixed Q1 EPS, the company subsequently increased its fiscal year 2026 FFOAA per diluted common share guidance to a range of $5.37 to $5.53, an increase of 6.5% at the midpoint over 2025, which should have provided a positive outlook. This combination of a strong operational beat in AFFO with a slight GAAP EPS miss, alongside a confidence-boosting guidance raise, likely created a balancing effect on the stock price, preventing a significant upward or downward trend.

2. Strategic Acquisition of Experiential Assets and Increased Investment Outlook.

EPR Properties executed on a significant growth strategy by completing the acquisition of six U.S. attraction properties from Six Flags Entertainment Corporation after fiscal Q1 2026, as part of a $315 million portfolio investment. This marked the company's largest post-COVID acquisition, reinforcing its focus on its experiential portfolio. Furthermore, EPR raised its fiscal year 2026 investment spending guidance to a range of $500.0 million to $600.0 million, up from a previous range of $400.0 million to $500.0 million. While these strategic moves signal positive long-term growth and diversification, the substantial capital outlay and the "wait and see" period for the integration and performance of these new assets may have kept the stock largely stable as investors digested the implications.

3. Stable and Growing Dividend Juxtaposed with "Hold" Analyst Consensus.

EPR Properties enhanced its appeal to income investors by increasing its monthly common share dividend by 5.1% to $0.31 per share (annualized at $3.72), which took effect with the April 15, 2026, payment. This results in an attractive current dividend yield of 6.45% and a secure payout ratio of 67% of AFFO. This strong dividend profile likely provided a floor for the stock price. However, analyst sentiment remained largely cautious, with a consensus rating of "Hold" from 9 Wall Street analysts (5 Hold, 4 Buy). The average 12-month price target of $60.50 represented a modest forecasted upside of only 1.77% from a recent closing price, suggesting that while the dividend offers yield, analysts did not see significant near-term capital appreciation potential, contributing to the stock's range-bound movement.

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Stock Movement Drivers

Fundamental Drivers

The 2.2% change in EPR stock from 2/28/2026 to 6/28/2026 was primarily driven by a 3.7% change in the company's P/E Multiple.
(LTM values as of)22820266282026Change
Stock Price ($)58.4059.702.2%
Change Contribution By: 
Total Revenues ($ Mil)6736811.2%
Net Income Margin (%)40.9%39.9%-2.3%
P/E Multiple16.216.83.7%
Shares Outstanding (Mil)7676-0.2%
Cumulative Contribution2.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/28/2026
ReturnCorrelation
EPR2.2% 
Market (SPY)6.6%17.4%
Sector (XLRE)3.9%63.1%

Fundamental Drivers

The 18.1% change in EPR stock from 11/30/2025 to 6/28/2026 was primarily driven by a 32.7% change in the company's Net Income Margin (%).
(LTM values as of)113020256282026Change
Stock Price ($)50.5559.7018.1%
Change Contribution By: 
Total Revenues ($ Mil)6636812.6%
Net Income Margin (%)30.1%39.9%32.7%
P/E Multiple19.316.8-13.0%
Shares Outstanding (Mil)7676-0.3%
Cumulative Contribution18.1%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/28/2026
ReturnCorrelation
EPR18.1% 
Market (SPY)7.3%3.3%
Sector (XLRE)10.5%55.4%

Fundamental Drivers

The 14.5% change in EPR stock from 5/31/2025 to 6/28/2026 was primarily driven by a 73.8% change in the company's Net Income Margin (%).
(LTM values as of)53120256282026Change
Stock Price ($)52.1359.7014.5%
Change Contribution By: 
Total Revenues ($ Mil)6496814.8%
Net Income Margin (%)23.0%39.9%73.8%
P/E Multiple26.516.8-36.7%
Shares Outstanding (Mil)7676-0.7%
Cumulative Contribution14.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/28/2026
ReturnCorrelation
EPR14.5% 
Market (SPY)25.1%10.7%
Sector (XLRE)12.2%50.7%

Fundamental Drivers

The 77.6% change in EPR stock from 5/31/2023 to 6/28/2026 was primarily driven by a 30.1% change in the company's Net Income Margin (%).
(LTM values as of)53120236282026Change
Stock Price ($)33.6259.7077.6%
Change Contribution By: 
Total Revenues ($ Mil)6256819.0%
Net Income Margin (%)30.7%39.9%30.1%
P/E Multiple13.216.827.3%
Shares Outstanding (Mil)7576-1.6%
Cumulative Contribution77.6%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/28/2026
ReturnCorrelation
EPR77.6% 
Market (SPY)81.3%37.8%
Sector (XLRE)39.2%67.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
EPR Return51%-15%39%-1%21%22%158%
Peers Return38%-1%6%5%6%12%80%
S&P 500 Return27%-19%24%23%16%7%96%

Monthly Win Rates [3]
EPR Win Rate75%42%67%58%50%83% 
Peers Win Rate63%47%48%60%53%63% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
EPR Max Drawdown-19%-36%-20%-17%-19%-20% 
Peers Max Drawdown-13%-24%-22%-16%-16%-11% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[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 6/26/2026 (YTD)

How Low Can It Go

EventEPRS&P 500
2025 US Tariff Shock
  % Loss-10.5%-18.8%
  % Gain to Breakeven11.7%23.1%
  Time to Breakeven6 days79 days
2023 SVB Regional Banking Crisis
  % Loss-19.6%-6.7%
  % Gain to Breakeven24.3%7.1%
  Time to Breakeven43 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-23.5%-24.5%
  % Gain to Breakeven30.7%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-79.4%-33.7%
  % Gain to Breakeven384.5%50.9%
  Time to Breakeven1805 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-16.9%-3.7%
  % Gain to Breakeven20.4%3.9%
  Time to Breakeven729 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-12.3%-12.2%
  % Gain to Breakeven14.0%13.9%
  Time to Breakeven46 days62 days

Compare to VICI, GLPI, O, SPG, NNN

In The Past

EPR Properties's stock fell -10.5% during the 2025 US Tariff Shock. Such a loss loss requires a 11.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventEPRS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-23.5%-24.5%
  % Gain to Breakeven30.7%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-79.4%-33.7%
  % Gain to Breakeven384.5%50.9%
  Time to Breakeven1805 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-27.8%-17.9%
  % Gain to Breakeven38.5%21.8%
  Time to Breakeven239 days123 days
2008-2009 Global Financial Crisis
  % Loss-71.7%-53.4%
  % Gain to Breakeven253.4%114.4%
  Time to Breakeven367 days1085 days
Summer 2007 Credit Crunch
  % Loss-22.2%-8.6%
  % Gain to Breakeven28.5%9.5%
  Time to Breakeven60 days47 days

Compare to VICI, GLPI, O, SPG, NNN

In The Past

EPR Properties's stock fell -10.5% during the 2025 US Tariff Shock. Such a loss loss requires a 11.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About EPR Properties (EPR)

EPR Properties is an experiential net lease Real Estate Investment Trust (REIT) that specializes in owning and managing a substantial portfolio of real estate venues across 44 states, valued at nearly $6.7 billion. The company's primary business involves investing in and leasing properties specifically designed to facilitate out-of-home leisure and recreation experiences, targeting venues where consumers choose to spend their discretionary time and money.

As a REIT, EPR Properties' main "product" is the provision of these specialized, enduring experiential real estate venues to its tenants through net leases. Its services revolve around the strategic acquisition, development, and management of these properties, ensuring a focus on key industry and tenant-level cash flow standards. The company's primary customers are the businesses (tenants) that operate these leisure and recreation facilities, serving a broad consumer market actively seeking entertainment, recreation, and unique experiences outside the home.

AI Analysis | Feedback

Here are a few analogies to describe EPR Properties:

  • Think of EPR Properties as the Simon Property Group for fun and leisure venues.
  • EPR Properties is like the Realty Income for entertainment and recreation real estate.

AI Analysis | Feedback

  • Leasing of Leisure-Focused Properties: EPR Properties provides net lease agreements for real estate venues that facilitate out-of-home leisure experiences.
  • Leasing of Recreation-Focused Properties: EPR offers net lease agreements for real estate venues dedicated to out-of-home recreation experiences.

AI Analysis | Feedback

EPR Properties primarily sells to other companies, which are its tenants that operate experiential real estate venues. Its major customers include:

  • Callaway Golf Company (NYSE: ELY), as the parent company of Topgolf.
  • AMC Entertainment Holdings, Inc. (NYSE: AMC)
  • Cinemark Holdings, Inc. (NYSE: CNK)

EPR Properties also has significant private tenants in sectors such as ski resorts (e.g., Boyne Resorts, Alterra Mountain Company), waterparks, and other entertainment and leisure venues.

AI Analysis | Feedback

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AI Analysis | Feedback

Greg Silvers, Chairman and Chief Executive Officer

Mr. Silvers joined EPR Properties in 1998 and was appointed Chief Executive Officer and President in February 2015, and elected Board Chair in 2022. Prior to EPR, he practiced real estate law at Stinson Leonard Street LLP, and was involved with EPR Properties since its inception as a lawyer for the firm that handled its public offering.

Mark Peterson, Executive Vice President, Chief Financial Officer and Treasurer

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

Benjamin Fox, Executive Vice President, Chief Investment Officer

Mr. Fox recently joined EPR Properties as Chief Investment Officer, succeeding Gregory Zimmerman. He brings experience from Ares Management and Realty Income, both recognized in net lease real estate.

Tonya Mater, Senior Vice President and Chief Accounting Officer

Ms. Mater has been with EPR Properties since 2002, serving as Vice President and Chief Accounting Officer since 2015, and previously as Vice President and Controller. Before joining EPR, she worked in public accounting as an auditor.

Paul Turvey, Senior Vice President, General Counsel and Secretary

Mr. Turvey serves as Senior Vice President, General Counsel, and Secretary for EPR Properties.

AI Analysis | Feedback

The key risks to EPR Properties (EPR) primarily revolve around its tenant base, the sensitivity of its experiential properties to economic cycles, and the prevailing interest rate environment.

  1. Concentration of Lease Revenues and Tenant Defaults: A notable risk for EPR Properties is the concentration of lease revenues from a limited number of tenants. According to its 10-K filings, a substantial portion of EPR's lease revenues comes from a few key tenants. This concentration increases the company's vulnerability to the financial health, defaults, or bankruptcies of these major tenants, which could significantly impact its financial performance and revenue streams.
  2. Dependence on Economic Conditions and Consumer Discretionary Spending: As an experiential net lease REIT, EPR Properties' performance is closely tied to broader economic conditions and consumer discretionary spending. Factors such as inflation, interest rate fluctuations, and global economic uncertainties can directly affect consumers' willingness and ability to spend on out-of-home leisure and recreation experiences. A downturn in economic conditions or a reduction in discretionary spending could negatively impact its tenants' businesses and, consequently, their ability to meet rent obligations.
  3. Elevated Interest Rates and Debt Financing Risks: EPR Properties relies on debt financing for its investments and operations, making it susceptible to interest rate fluctuations. Elevated interest rates can increase the cost of borrowing for new debt and materially adversely affect the company's ability to refinance existing debt or engage in new investment activities. This financial risk can impact the company's profitability and growth prospects. The company's significant investment in the theater sector, while being actively diversified, also poses a risk due to evolving entertainment consumption habits and shifts towards streaming services.

AI Analysis | Feedback

The increasing sophistication and widespread adoption of in-home entertainment and recreational technologies (such as advanced gaming platforms, virtual reality/augmented reality systems, and premium streaming services offering immersive content) that provide compelling alternatives to out-of-home leisure experiences, potentially reducing consumer demand for the types of experiential properties EPR Properties invests in.

AI Analysis | Feedback

EPR Properties, an experiential net lease real estate investment trust (REIT), specializes in properties that facilitate out-of-home leisure, recreation, and educational experiences across the United States. The addressable markets for their main products and services in the U.S. are substantial, collectively exceeding $100 billion. The key addressable markets for EPR Properties' real estate investments in the U.S. include:
  • Movie Theaters: The market size for movie theaters in the U.S. is projected to be $16.3 billion in 2026. Other estimates place the U.S. movie theater market at $16.88 billion in 2024, with projections to reach $27.21 billion by 2033.
  • Ski & Snowboard Resorts: The U.S. market size for ski and snowboard resorts is estimated at $4.4 billion in 2026. The broader U.S. skiing and snowboarding market was valued at approximately $5.53 billion in 2023 and is expected to reach $5.78 billion in 2024.
  • Amusement and Theme Parks: The U.S. amusement parks market generated approximately $28.39 billion in revenue in 2024 and is anticipated to grow to $36.90 billion by 2030. Another estimate for the U.S. amusement and theme park market size was $23.40 billion in 2024, with a projection to reach $36.60 billion by 2035.
  • Family Entertainment Centers (FECs): The U.S. family/indoor entertainment centers market was valued at $5.25 billion in 2024 and is estimated to reach $10.56 billion by 2034. Globally, the family entertainment center market was valued at $28.2 billion in 2023, with North America holding a 40% revenue share.
  • Golf Entertainment: The market size for Golf Driving Ranges & Family Fun Centers in the U.S. is estimated at $24.3 billion in 2026. The U.S. golf simulator market alone was valued at $1.0 billion in 2024.
  • Marinas: The U.S. marina market is estimated to generate between $6.5 billion and $7.0 billion in revenue in 2026. The broader North American marinas market is expected to reach $8.08 billion by 2029, growing from $6.70 billion in 2024.
  • K-12 Private Education: The annual domestic revenues for private primary and secondary schools in the U.S. were approximately $98.9 billion in 2024. The K-12 private education market in North America was valued at $61.05 billion in 2025, with projections for robust growth.
EPR Properties itself estimates its addressable market to be over $100 billion. These market sizes are all for the U.S. region, aligning with EPR Properties' significant presence across 44 states.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for EPR Properties (EPR) over the next 2-3 years:

  1. Accelerated Investment in Experiential Properties: EPR Properties anticipates a significant increase in investment spending on experiential assets, with projections of $400 million to $500 million for 2026, up from $288.5 million in 2025. These investments include strategic acquisitions such as a portfolio of seven regional parks, five golf courses, a regional water park, and a climbing platform. The company is also expanding into new experiential segments like fitness and wellness, diversifying its portfolio and broadening its revenue base.
  2. Recovery and Growth of Theatrical Box Office: An optimistic outlook for the North American theatrical box office is expected to drive revenue growth. The box office saw a slight improvement in 2025, reaching $8.7 billion (up 1% from 2024), with further growth projected for 2026 due to a stronger film slate and an increased number of major studio releases. Additionally, rising non-ticket revenues, such as food and beverage sales, are contributing to tenant resilience and overall revenue.
  3. Growth in Percentage Rents and Participating Income: EPR Properties forecasts an increase in revenue from percentage rents and participating income. The company's 2026 outlook includes an expected contribution of $18.5 million to $22.5 million from these revenue streams, reflecting the performance of its experiential tenants.
  4. Revenue Increases from Embedded Rent Escalators: A consistent driver of revenue growth is the presence of embedded rent escalators within EPR Properties' existing lease agreements. These contractual increases contribute to steady revenue growth, as observed in the company's financial performance where embedded rent escalators played a role in the revenue increase in Q4 2025.

AI Analysis | Feedback

Share Repurchases

  • No significant share repurchase programs were announced or executed by EPR Properties within the last 3-5 years (2021-2025).

Share Issuance

  • In December 2025, EPR Properties established an at-the-market (ATM) equity offering program, authorizing the company to offer and sell up to $400 million of its common shares.
  • As of December 31, 2025, no common shares had been issued under the ATM program.

Inbound Investments

  • No information regarding large inbound investments made in EPR Properties by third-parties within the last 3-5 years is available.

Outbound Investments

  • EPR Properties' total investment spending for 2025 amounted to $288.5 million.
  • In 2025, key acquisitions included a portfolio of five championship golf courses in Dallas for $90.7 million and the Ocean Breeze Waterpark for $23.2 million.
  • The company actively engages in capital recycling, selling off older, non-core properties (primarily theaters) to fund new investments in experiential assets, generating $168.3 million in disposition proceeds during 2025.

Capital Expenditures

  • Investment spending (which represents capital expenditures for property acquisitions and development) totaled $288.5 million in 2025.
  • For 2024, investment spending was $263.9 million.
  • For 2026, EPR Properties projects investment spending to be between $400 million and $500 million, primarily focused on acquisitions and experiential development and redevelopment projects.

Better Bets vs. EPR Properties (EPR)

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Peer Comparisons

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Financials

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
Mkt Price59.7027.2145.8863.12226.8947.4753.59
Mkt Cap4.629.113.058.873.79.021.0
Rev LTM6814,0401,6205,8826,6499362,830
Op Inc LTM3883,9951,2822,6603,2105711,971
FCF LTM4352,5487444,0823,2306511,646
FCF 3Y Avg4182,3909163,5573,1206401,653
CFO LTM4352,5501,1474,0824,1436511,849
CFO 3Y Avg4182,3941,0803,5573,9626401,737

Growth & Margins

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
Rev Chg LTM4.8%4.1%4.4%9.4%10.9%5.8%5.3%
Rev Chg 3Y Avg2.9%9.9%6.2%19.3%7.6%5.9%6.9%
Rev Chg Q4.8%3.5%6.3%10.2%19.3%4.1%5.5%
QoQ Delta Rev Chg LTM1.2%0.9%1.6%2.3%4.5%1.0%1.4%
Op Inc Chg LTM6.6%14.2%13.7%12.8%4.0%4.1%9.7%
Op Inc Chg 3Y Avg3.4%27.9%7.6%24.9%6.9%5.8%7.3%
Op Mgn LTM57.1%98.9%79.2%45.2%48.3%61.0%59.1%
Op Mgn 3Y Avg56.5%93.9%74.8%44.0%49.9%61.8%59.2%
QoQ Delta Op Mgn LTM0.6%7.6%3.5%0.1%-1.6%-0.2%0.4%
CFO/Rev LTM63.9%63.1%70.8%69.4%62.3%69.6%66.7%
CFO/Rev 3Y Avg63.2%61.8%70.0%68.1%64.7%72.3%66.4%
FCF/Rev LTM63.9%63.1%45.9%69.4%48.6%69.6%63.5%
FCF/Rev 3Y Avg63.2%61.7%59.7%68.1%51.0%72.3%62.4%

Valuation

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
Mkt Cap4.629.113.058.873.79.021.0
P/S6.77.28.010.011.19.68.8
P/Op Inc11.77.310.122.123.015.713.7
P/EBIT11.37.310.024.911.315.111.3
P/E16.89.414.652.515.723.216.2
P/CFO10.511.411.314.417.813.812.6
Total Yield6.0%17.1%13.7%6.9%7.0%9.3%8.1%
Dividend Yield0.0%6.5%6.8%5.0%0.6%5.0%5.0%
FCF Yield 3Y Avg11.5%7.6%7.0%6.9%5.7%8.1%7.3%
D/E0.70.60.60.50.40.50.6
Net D/E0.70.60.60.50.40.50.6

Returns

EPRVICIGLPIOSPGNNNMedian
NameEPR Prop.VICI Pro.Gaming a.Realty I.Simon Pr.NNN REIT  
1M Rtn4.6%-2.0%-0.6%3.0%11.9%6.7%3.8%
3M Rtn24.7%4.0%6.3%5.4%27.3%14.8%10.5%
6M Rtn23.3%-0.0%6.3%14.3%23.6%23.6%18.8%
12M Rtn10.8%-10.2%5.9%16.9%48.1%17.3%13.8%
3Y Rtn56.8%3.0%14.7%23.8%130.4%31.1%27.5%
1M Excs Rtn5.7%-1.2%-0.1%4.2%13.1%8.1%4.9%
3M Excs Rtn8.9%-11.7%-9.6%-7.4%12.6%0.8%-3.3%
6M Excs Rtn18.5%-5.1%-0.3%9.4%17.3%18.6%13.3%
12M Excs Rtn-9.8%-30.9%-14.8%-4.0%30.3%-3.2%-6.9%
3Y Excs Rtn-1.6%-64.6%-54.1%-43.3%70.3%-33.9%-38.6%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Experiential680659666607493
Education3839394838
Corporate/Unallocated01130
Total718698706658532


Operating Income by Segment
$ Mil202420232022
Experiential544564518
Education383948
Gain/Loss on sale of real estate16-21
Corporate/Unallocated-003
Transaction costs-1-2-5
Retirement and severance expense-2-1 
(Provision) benefit for credit losses, net-12-1-11
General and administrative expense-50-56-52
Impairment charges-52-67-27
Depreciation and amortization-166-168-164
Gain on sale of real estate and early ground lease termination 0 
Total316306311


Assets by Segment
$ Mil20252024202320222021
Experiential5,2425,1725,1905,1654,995
Education363410433474505
Corporate/Unallocated953578120301
Total5,7005,6175,7015,7595,801


Price Behavior

Price Behavior
Market Price$59.70 
Market Cap ($ Bil)4.6 
First Trading Date11/18/1997 
Distance from 52W High-0.3% 
   50 Days200 Days
DMA Price$57.28$53.44
DMA Trendupup
Distance from DMA4.2%11.7%
 3M1YR
Volatility19.9%22.7%
Downside Capture-80.906.36
Upside Capture36.2617.33
Correlation (SPY)5.4%11.1%
EPR Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta0.430.300.670.240.320.58
Up Beta0.860.460.500.450.280.61
Down Beta0.780.681.210.970.710.68
Up Capture34%53%39%5%16%25%
Bmk +ve Days13283667141432
Stock +ve Days9223165130400
Down Capture1%-76%82%-36%21%71%
Bmk -ve Days7132757109318
Stock -ve Days11193259119345

[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
EPR10.9%22.6%0.38-
Sector ETF (XLRE)12.6%13.9%0.6251.4%
Equity (SPY)21.2%12.4%1.2610.7%
Gold (GLD)21.8%27.7%0.709.1%
Commodities (DBC)21.8%18.6%0.92-2.5%
Real Estate (VNQ)16.1%13.6%0.8554.4%
Bitcoin (BTCUSD)-44.2%42.5%-1.253.3%

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
EPR10.5%26.2%0.38-
Sector ETF (XLRE)3.8%19.1%0.1065.0%
Equity (SPY)13.4%17.1%0.6149.5%
Gold (GLD)17.8%18.3%0.7910.8%
Commodities (DBC)7.4%19.5%0.2817.6%
Real Estate (VNQ)3.4%18.9%0.0868.8%
Bitcoin (BTCUSD)10.9%54.0%0.3920.4%

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
EPR3.9%42.4%0.24-
Sector ETF (XLRE)7.0%20.4%0.3059.0%
Equity (SPY)15.2%18.0%0.7246.8%
Gold (GLD)11.8%16.1%0.604.1%
Commodities (DBC)5.9%18.0%0.2621.4%
Real Estate (VNQ)5.6%20.7%0.2365.0%
Bitcoin (BTCUSD)54.7%66.4%0.9516.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity6.7 Mil
Short Interest: % Change Since 5312026-4.2%
Average Daily Volume0.6 Mil
Days-to-Cover Short Interest10.3 days
Basic Shares Quantity76.3 Mil
Short % of Basic Shares8.7%

Earnings Returns History

Updated 6/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/20262.8%3.3%2.4%
2/25/20264.2%2.8%-14.6%
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%
...
SUMMARY STATS   
# Positive151316
# Negative10129
Median Positive2.3%4.6%7.3%
Median Negative-2.4%-4.0%-5.3%
Max Positive7.0%20.5%40.7%
Max Negative-7.2%-6.2%-18.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/20262.8%3.3%2.4%
2/25/20264.2%2.8%-14.6%
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%
2/28/2024-0.8%1.5%3.2%
10/25/20231.0%8.4%13.2%
8/2/2023-3.0%-3.8%1.6%
4/26/20234.4%4.6%3.3%
2/22/20231.1%-1.8%-16.8%
11/2/20220.9%0.7%10.3%
8/1/2022-2.0%-2.6%-18.4%
5/4/2022-0.7%-6.2%-5.3%
2/22/20227.0%8.3%14.9%
11/3/2021-2.3%-3.3%-15.8%
7/27/2021-2.0%-4.5%-3.6%
5/5/20211.8%-4.4%9.8%
2/24/2021-7.2%-2.5%-3.7%
1/7/20212.3%14.0%23.6%
11/4/20203.6%20.5%40.7%
8/5/20202.0%12.1%16.7%
SUMMARY STATS   
# Positive151316
# Negative10129
Median Positive2.3%4.6%7.3%
Median Negative-2.4%-4.0%-5.3%
Max Positive7.0%20.5%40.7%
Max Negative-7.2%-6.2%-18.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
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
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
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
09/30/202111/04/202110-Q
06/30/202107/28/202110-Q
03/31/202105/06/202110-Q
12/31/202002/25/202110-K
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202005/11/202010-Q
12/31/201902/25/202010-K
09/30/201910/30/201910-Q
06/30/201908/01/201910-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Net income available to common shareholders per diluted common share3.033.113.194.0% RaisedGuidance: 2.99 for 2026
2026 FFOAA per diluted common share5.375.455.531.3% RaisedGuidance: 5.38 for 2026
2026 Investment spending500.00 Mil550.00 Mil600.00 Mil22.2% RaisedGuidance: 450.00 Mil for 2026
2026 Disposition proceeds50.00 Mil75.00 Mil100.00 Mil50.0% RaisedGuidance: 50.00 Mil for 2026
2026 Additional investment spending 71.00 Mil    

Prior: Q4 2025 Earnings Reported 2/25/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 EPS2.892.993.09-6.0% Lower NewActual: 3.18 for 2025
2026 FFOAA per diluted common share5.285.385.485.7% Higher NewActual: 5.09 for 2025
2026 Investment spending400.00 Mil450.00 Mil500.00 Mil80.0% Higher NewActual: 250.00 Mil for 2025
2026 Disposition proceeds25.00 Mil50.00 Mil75.00 Mil-67.7% Lower NewActual: 155.00 Mil for 2025

Insider Activity

Updated 6/24/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Johnson, Gwendolyn MarySVP - Asset ManagementMark S. Johnson and Gwendolyn M. Johnson Trust dated September 14, 2022Sell624202658.112,000116,220825,917Form
2Turvey, Paul RobertSVP, General CounselDirectSell624202658.206,400372,4802,688,200Form
3Peterson, Mark AlanEVP & Chief Financial OfficerJill J. Peterson and Mark A. Peterson, TTEES Jill J. Peterson Rev. TrustSell611202660.008,334500,04012,465,000Form
4Peterson, Mark AlanEVP & Chief Financial OfficerJill J. Peterson and Mark A. Peterson, TTEES Jill J. Peterson Rev. TrustSell511202657.508,696500,02012,424,830Form
5Mater, Tonya LSVP & Chief Accounting OfficerDirectSell415202656.502,600146,9003,156,034Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Johnson, Gwendolyn MarySVP - Asset ManagementMark S. Johnson and Gwendolyn M. Johnson Trust dated September 14, 2022Sell624202658.112,000116,220825,917Form
2Turvey, Paul RobertSVP, General CounselDirectSell624202658.206,400372,4802,688,200Form
3Peterson, Mark AlanEVP & Chief Financial OfficerJill J. Peterson and Mark A. Peterson, TTEES Jill J. Peterson Rev. TrustSell611202660.008,334500,04012,465,000Form
4Peterson, Mark AlanEVP & Chief Financial OfficerJill J. Peterson and Mark A. Peterson, TTEES Jill J. Peterson Rev. TrustSell511202657.508,696500,02012,424,830Form
5Mater, Tonya LSVP & Chief Accounting OfficerDirectSell415202656.502,600146,9003,156,034Form
6Mater, Tonya LSVP & Chief Accounting OfficerDirectSell415202656.002,000112,0003,273,704Form
7Moriarty, Brian AndrewSVP - Corporate CommunicationsDirectSell316202656.445,000282,200773,454Form
8Trimberger, Lisa G DirectSell311202657.836,633383,583380,865Form
9Trimberger, Lisa G JTIC - John R. Trimberger Jr. Trust Lisa G. Trimberger TrustSell311202657.383,000  Form
10Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell202202653.897,500404,1923,572,736Form
11Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell106202650.077,500375,5382,841,619Form
12Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell1201202552.257,500391,8643,357,018Form
13Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell1104202549.217,500369,0953,635,687Form
14Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell1001202558.127,500435,8654,729,249Form
15Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell902202553.357,500400,1064,741,366Form
16Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell801202554.947,500412,0475,294,914Form
17Zimmerman, Gregory EEVP & Chief Investment OfficerFourth Amended and Restated Gregory E. Zimmerman Revocable Trust, dated June 2, 2015Sell702202558.377,500437,7846,063,425Form
18Sterneck, Robin Peppe Robin P. Sterneck Revocable Trust U/A DTD 05/27/2009Sell616202556.733,796  Form
Core Cache Last Updated: 6/28/2026