Tearsheet

EPR Properties (EPR)


Market Price (12/29/2025): $50.17 | Market Cap: $3.8 Bil
Sector: Real Estate | Industry: Other Specialized REITs

EPR Properties (EPR)


Market Price (12/29/2025): $50.17
Market Cap: $3.8 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 5.2%, FCF Yield is 11%
Weak multi-year price returns
2Y Excs Rtn is -27%, 3Y Excs Rtn is -21%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 78%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 55%
  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 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%
  
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 yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 11%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 55%
2 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%
3 Low stock price volatility
Vol 12M is 24%
4 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
5 Weak multi-year price returns
2Y Excs Rtn is -27%, 3Y Excs Rtn is -21%
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 78%
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

EPR Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Between August 31, 2025, and December 29, 2025, EPR Properties (EPR) experienced a stock price decline of 6.1%. Several key factors likely contributed to this movement:

1. Increased Investor Caution Due to Sector Concentration and Tenant Risk: EPR Properties' significant weighting towards experiential properties, notably theaters (37%) and its exposure to specific tenants such as AMC Theaters, raised investor concerns regarding sector concentration and associated tenant risk. This sentiment was particularly pronounced amidst broader economic uncertainties, leading to reduced investor inclination towards the REIT.

2. Bearish Technical Signals and Downtrend from July Peak: After a strong uptrend earlier in 2025 that saw the stock peak around $60 in July, EPR Properties by October 2025 was trading considerably lower than its highs. The stock was observed below its 50-day moving average and nearing its 200-day moving average, signaling a bearish technical trend in the market.

Show more

Stock Movement Drivers

Fundamental Drivers

The -11.4% change in EPR stock from 9/28/2025 to 12/28/2025 was primarily driven by a -20.2% change in the company's P/E Multiple.
928202512282025Change
Stock Price ($)56.5350.07-11.43%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)656.37663.461.08%
Net Income Margin (%)27.38%30.09%9.91%
P/E Multiple23.9319.09-20.23%
Shares Outstanding (Mil)76.0876.13-0.06%
Cumulative Contribution-11.43%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025
ReturnCorrelation
EPR-11.4% 
Market (SPY)4.3%25.7%
Sector (XLRE)-3.2%34.8%

Fundamental Drivers

The -10.1% change in EPR stock from 6/29/2025 to 12/28/2025 was primarily driven by a -32.6% change in the company's P/E Multiple.
629202512282025Change
Stock Price ($)55.7050.07-10.11%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)649.20663.462.20%
Net Income Margin (%)22.98%30.09%30.96%
P/E Multiple28.3119.09-32.55%
Shares Outstanding (Mil)75.8076.13-0.43%
Cumulative Contribution-10.11%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025
ReturnCorrelation
EPR-10.1% 
Market (SPY)12.6%21.2%
Sector (XLRE)-0.7%44.5%

Fundamental Drivers

The 22.1% change in EPR stock from 12/28/2024 to 12/28/2025 was primarily driven by a 22.9% change in the company's P/E Multiple.
1228202412282025Change
Stock Price ($)41.0250.0722.05%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)636.87663.464.17%
Net Income Margin (%)31.40%30.09%-4.18%
P/E Multiple15.5319.0922.92%
Shares Outstanding (Mil)75.7276.13-0.53%
Cumulative Contribution22.05%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025
ReturnCorrelation
EPR22.1% 
Market (SPY)17.0%47.5%
Sector (XLRE)2.3%68.6%

Fundamental Drivers

The 64.8% change in EPR stock from 12/29/2022 to 12/28/2025 was primarily driven by a 49.5% change in the company's P/E Multiple.
1229202212282025Change
Stock Price ($)30.3950.0764.77%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)594.59663.4611.58%
Net Income Margin (%)30.01%30.09%0.26%
P/E Multiple12.7719.0949.47%
Shares Outstanding (Mil)75.0276.13-1.48%
Cumulative Contribution64.73%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025
ReturnCorrelation
EPR18.7% 
Market (SPY)48.4%43.9%
Sector (XLRE)7.1%69.0%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
EPR Return-52%51%-15%39%-1%20%1%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
EPR Win Rate50%75%42%67%58%50% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
EPR Max Drawdown-80%-5%-22%-8%-16%-1% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[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] 2025 data is for the year up to 12/26/2025 (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 HPQ, HPE, IBM, CSCO, AAPL

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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Asset Allocation

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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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Trade Ideas

Select ideas related to EPR. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_10312025_Short_Squeeze10312025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
-0.1%-0.1%-5.8%
EPR_9302022_Dip_Buyer_ValueBuy09302022EPREPR PropertiesDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
10.8%25.6%-0.6%

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Peer Comparisons for EPR Properties

Peers to compare with:

Financials

EPRHPQHPEIBMCSCOAAPLMedian
NameEPR Prop.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price50.0723.2624.49305.0978.16273.4064.11
Mkt Cap3.821.932.6284.9309.24,074.4158.8
Rev LTM66355,29534,29665,40257,696408,62556,496
Op Inc LTM3653,6241,64411,54412,991130,2147,584
FCF LTM4162,80062711,85412,73396,1847,327
FCF 3Y Avg4182,9781,40011,75313,879100,5037,366
CFO LTM4163,6972,91913,48313,744108,5658,590
CFO 3Y Avg4183,6723,89613,49814,736111,5598,697

Growth & Margins

EPRHPQHPEIBMCSCOAAPLMedian
NameEPR Prop.HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM4.2%3.2%13.8%4.5%8.9%6.0%5.2%
Rev Chg 3Y Avg3.9%-3.9%6.5%2.6%3.7%1.8%3.2%
Rev Chg Q4.3%4.2%14.4%9.1%7.5%9.6%8.3%
QoQ Delta Rev Chg LTM1.1%1.1%3.7%2.1%1.8%2.1%2.0%
Op Mgn LTM54.9%6.6%4.8%17.7%22.5%31.9%20.1%
Op Mgn 3Y Avg56.7%7.4%7.2%16.4%24.2%30.8%20.3%
QoQ Delta Op Mgn LTM-1.4%-0.2%-1.4%0.6%0.4%0.1%-0.1%
CFO/Rev LTM62.7%6.7%8.5%20.6%23.8%26.6%22.2%
CFO/Rev 3Y Avg63.9%6.8%12.7%21.4%26.1%28.4%23.8%
FCF/Rev LTM62.7%5.1%1.8%18.1%22.1%23.5%20.1%
FCF/Rev 3Y Avg63.9%5.5%4.6%18.6%24.6%25.6%21.6%

Valuation

EPRHPQHPEIBMCSCOAAPLMedian
NameEPR Prop.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap3.821.932.6284.9309.24,074.4158.8
P/S5.70.41.04.45.410.04.9
P/EBIT11.66.819.925.122.531.321.2
P/E19.18.6572.736.029.941.033.0
P/CFO9.25.911.221.122.537.516.2
Total Yield5.2%14.1%2.3%5.0%5.4%2.8%5.1%
Dividend Yield0.0%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg11.4%10.6%5.5%6.4%6.0%3.1%6.2%
D/E0.80.50.70.20.10.00.4
Net D/E0.80.30.60.20.00.00.3

Returns

EPRHPQHPEIBMCSCOAAPLMedian
NameEPR Prop.HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-4.2%-3.6%12.7%-1.1%1.6%-2.0%-1.5%
3M Rtn-11.4%-11.9%2.7%7.9%17.0%7.1%4.9%
6M Rtn-10.1%-4.0%34.5%6.6%15.2%36.3%10.9%
12M Rtn22.1%-27.0%16.2%40.5%34.5%7.5%19.1%
3Y Rtn64.8%-3.7%67.3%141.3%79.6%114.1%73.5%
1M Excs Rtn-5.8%-5.6%12.9%-2.2%-0.0%-3.7%-3.0%
3M Excs Rtn-15.7%-16.2%-1.7%3.6%12.7%2.8%0.6%
6M Excs Rtn-22.4%-16.3%22.3%-5.7%3.0%24.0%-1.3%
12M Excs Rtn6.8%-42.9%-0.7%25.0%19.9%-8.4%3.0%
3Y Excs Rtn-20.5%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

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$50.07 
Market Cap ($ Bil)3.8 
First Trading Date11/18/1997 
Distance from 52W High-15.9% 
   50 Days200 Days
DMA Price$51.14$52.32
DMA Trendupdown
Distance from DMA-2.1%-4.3%
 3M1YR
Volatility21.7%23.7%
Downside Capture82.9339.52
Upside Capture7.7252.92
Correlation (SPY)26.0%47.3%
EPR Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta0.360.500.570.440.600.70
Up Beta-0.600.250.150.060.650.65
Down Beta0.640.300.520.490.660.75
Up Capture115%17%49%33%45%43%
Bmk +ve Days12253873141426
Stock +ve Days13192863135399
Down Capture23%100%90%76%54%89%
Bmk -ve Days7162452107323
Stock -ve Days6223361109343

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of EPR With Other Asset Classes (Last 1Y)
 EPRSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return22.9%2.7%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility23.5%16.8%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio0.81-0.010.722.700.340.09-0.08
Correlation With Other Assets 68.4%47.2%9.1%23.9%69.9%13.0%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
 Comparison of EPR With Other Asset Classes (Last 5Y)
 EPRSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return15.6%5.3%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility28.6%19.1%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio0.530.190.700.970.500.160.57
Correlation With Other Assets 60.4%48.9%10.3%20.1%64.8%22.6%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of EPR With Other Asset Classes (Last 10Y)
 EPRSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return4.8%6.3%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility42.4%20.6%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.260.270.710.860.320.220.90
Correlation With Other Assets 58.7%47.9%3.4%22.8%65.1%17.9%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity4,826,620
Short Interest: % Change Since 113020253.2%
Average Daily Volume755,869
Days-to-Cover Short Interest6.39
Basic Shares Quantity76,127,000
Short % of Basic Shares6.3%

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
93020251030202510-Q 9/30/2025
6302025731202510-Q 6/30/2025
3312025508202510-Q 3/31/2025
12312024227202510-K 12/31/2024
93020241031202410-Q 9/30/2024
6302024801202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023229202410-K 12/31/2023
93020231026202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022223202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022802202210-Q 6/30/2022
3312022505202210-Q 3/31/2022
12312021223202210-K 12/31/2021