Core Viewpoint - The article highlights the importance of dividend-paying stocks as a strategy for investors to enhance returns amid macroeconomic uncertainties, featuring three specific stocks recommended by top Wall Street analysts. Group 1: McDonald's (MCD) - McDonald's offers a quarterly dividend of $1.77 per share, resulting in an annualized dividend of $7.08 per share and a dividend yield of 2.4% [3] - The company has increased its annual dividend for 49 consecutive years, positioning itself to become a dividend king [3] - Jefferies analyst Andy Barish has reiterated a buy rating on McDonald's with a price target of $360, citing near-term acceleration in U.S. same-store sales and medium-term unit growth as key drivers [4][5] - Barish also noted improved international same-store sales, benefiting from McDonald's value proposition and competitive advantages in size, scale, and advertising [5][6] - The analyst expects global unit growth to accelerate to 4% to 5% and highlighted the company's strong free cash flow generation to support dividends and share repurchases [6] Group 2: EPR Properties (EPR) - EPR Properties, a REIT focused on experiential properties, recently increased its monthly dividend by 3.5% to $0.295 per share, resulting in an annualized dividend of $3.54 per share and a dividend yield of 6.2% [8] - Stifel analyst Simon Yarmak upgraded EPR to buy from hold, raising the price target to $65 from $52, citing improvements in the cost of capital and potential for external growth [9] - Yarmak noted that EPR's weighted average cost of capital has improved to about 7.85% from nearly 9.3%, enabling the company to pursue acquisitions [11] - The analyst expects continued improvement in the theatre industry fundamentals to enhance EPR's earnings over the coming years [12] Group 3: Halliburton (HAL) - Halliburton offers a quarterly dividend of 17 cents per share, leading to an annualized dividend of 68 cents per share and a dividend yield of 3.3% [14] - Goldman Sachs analyst Neil Mehta reaffirmed a buy rating on Halliburton with a price target of $24, highlighting that about 60% of HAL's revenue comes from international markets, providing resilience [15][16] - Management anticipates growth from unconventional completion opportunities and market share growth in directional drilling, which could enhance margins and support strong free cash flow [17] - Despite expected pricing softness in North America, Halliburton aims to maintain a premium due to its differentiated technology and long-term contracts [18]

This information is as of the date indicated and, to our knowledge, was timely and accurate when presented. We are under no obligation to update or remove outdated information other than as required by applicable law or regulation. FIVE STAR PROPERTIES 1 AND YEAR-E KNINGTS FEBRUARY 23, 2012 AGENDA Introductory Comments ■ ■ Investment Update ■ Financial Review · Capital Markets and Liquidity Update ■ Closing Comments HEADLINES 1. Primary investment categories display mixed but positive trending results 2 HEA ...

Financial Performance - Total revenue for 2012 reached $321.8 million, an 8% increase compared to $298.3 million in 2011[58] - Net income attributable to common shareholders for 2012 was $93.2 million, an 11% increase from $84.3 million in 2011[58] - Funds From Operations (FFO) attributable to common shareholders for 2012 totaled $168.8 million, a 12% increase from $150.3 million in 2011[58] - FFO per share attributable to common shareholders for 2012 was $3.59, a 12% increase from $3.20 in 2011[58] - Total debt was $1.4 billion as of December 31, 2012[62] Investment and Capital Allocation - Capital spending in Q4 2012 was approximately $96 million, bringing the total for 2012 to around $300 million[18] - The company deployed $120 million in entertainment investments, focusing on theatres and family entertainment venues in 2012[28] - $84 million was deployed on investments across recreational properties in 2012[35] - $80 million was deployed in education properties in 2012[45] 2013 Outlook - The company anticipates investment spending between $300 million and $350 million in 2013[52, 65]

Financial Performance - Total revenue for Q4 2013 increased by 8% to $89.4 million, compared to $82.5 million in Q4 2012 [35] - Net income attributable to common shareholders for Q4 2013 increased by 204% to $57.1 million, compared to $18.8 million in Q4 2012 [35] - Funds From Operations (FFO) attributable to common shareholders for Q4 2013 increased by 54% to $63.3 million, compared to $41.0 million in Q4 2012 [35] - FFO per share attributable to common shareholders for Q4 2013 increased by 41% to $1.23, compared to $0.87 in Q4 2012 [35] - Total revenue for the year 2013 increased by 8% to $343.1 million, compared to $317.8 million in 2012 [40] - Net income attributable to common shareholders for the year 2013 increased by 68% to $156.4 million, compared to $93.2 million in 2012 [40] - FFO attributable to common shareholders for the year 2013 increased by 18% to $199.4 million, compared to $168.8 million in 2012 [40] - FFO per share attributable to common shareholders for the year 2013 increased by 15% to $4.13, compared to $3.59 in 2012 [40] Investment and Capital - 2013 investment spending exceeded $400 million, a 35% increase over the prior year [12] - Q4 2013 investment spending included $39.5 million in Education, $1.5 million in Other, $85 million in Recreation, and $35 million in Entertainment, totaling $151 million [13] - The company's total debt was $1.5 billion as of December 31, 2013 [44] - 2014 investment spending guidance is $500 million - $550 million, representing a 30% increase over 2013 at the midpoint [32]

Financial Performance - Total revenue for 2014 reached $385.1 million, a 12% increase compared to $343.1 million in 2013[53] - Net income attributable to common shareholders was $155.8 million in 2014, slightly down from $156.4 million in 2013[53] - FFO (Funds From Operations) attributable to common shareholders was $220.5 million in 2014, an 11% increase from $199.4 million in 2013[53] - Adjusted FFO attributable to common shareholders was $225.1 million in 2014, a 20% increase from $188.2 million in 2013[53] - For the quarter ended December 31, 2014, total revenue was $104.7 million, a 17% increase from $89.4 million in 2013[49, 52] Investment and Portfolio - Annual investment spending reached approximately $613 million[17] - Q4 spending included approximately $75 million in recreation projects, including 14 Build-To-Suit (BTS) TopGolf projects and the hotel waterpark at Camelback[23, 33] - Q4 spending included approximately $48 million in education projects, including 18 public charter schools, three private schools, and 12 early childhood education centers[26, 36] - The company achieved strong overall occupancy at 99%[44] Capital Markets and Guidance - Total debt was $1.6 billion as of December 31, 2014[58] - The company increased 2015 earnings guidance and anticipates investment spending between $500 million and $550 million[5, 14, 44, 60]

Financial Performance (2015) - Total revenue reached $421.0 million, a 9% increase compared to $385.1 million in 2014[29] - Net income attributable to common shareholders was $170.7 million, a 10% increase from $155.8 million in 2014[29] - Funds From Operations (FFO) attributable to common shareholders reached $235.2 million, a 7% increase from $220.5 million in 2014[29] - Adjusted FFO attributable to common shareholders was $260.3 million, a 16% increase from $225.1 million in 2014[29] - Adjusted FFO per share was $4.44, an 8% increase from $4.13 in 2014[29] Q4 2015 Performance - Total revenue for the quarter ended December 31, 2015, was $112.0 million, a 7% increase compared to $104.7 million in 2014[27] - FFO attributable to common shareholders was $71.3 million, a 12% increase from $63.5 million in 2014[27] - Adjusted FFO attributable to common shareholders was $70.7 million, a 9% increase from $65.1 million in 2014[27] - FFO per share was $1.18, a 7% increase from $1.10 in 2014[27] Investment and Capital - Total debt was $2.0 billion as of December 31, 2015, with 86% fixed rate or fixed through interest rate swaps, with a weighted average of 5.2%[33] - 2015 annual investment spending was $632 million[12] - Investment spending guidance for 2016 is projected to be between $600 million and $650 million[24, 38]

Financial Performance - Total revenue for 2016 reached $493.2 million, a 17% increase compared to $421.0 million in 2015[23] - Net income attributable to common shareholders for 2016 was $201.2 million, up 18% from $170.7 million in 2015[23] - Funds From Operations (FFO) attributable to common shareholders for 2016 totaled $304.6 million, a 30% increase from $235.2 million in 2015[23] - Adjusted FFO attributable to common shareholders for 2016 was $308.0 million, an 18% increase from $260.3 million in 2015[23] - For the quarter ended December 31, 2016, total revenue was $130.8 million, a 17% increase compared to $112.0 million in 2015[22] Investment and Capital - 2016 investment spending totaled $805 million[13] - The company issued $450.0 million of 10-year senior unsecured notes with an annual interest rate of 4.75% in December[26] - Subsequent to year-end, the company prepaid $17.9 million in secured mortgage notes payable with an average interest rate of 6.1%[27] - Subsequent to year-end, the company issued 548 thousand common shares under DSPP for net proceeds of $40.8 million[28] Portfolio and Strategy - The company anticipates dispositions of $150 million to $300 million[20, 31] - The company expects investment spending between $1.30 billion and $1.35 billion[20, 31]

Financial Performance (Q4 2017) - Total revenue increased to $147.7 million, a 13% increase compared to $130.8 million in 2016[42] - Net income attributable to common shareholders was $54.7 million, a 5% increase from $52.2 million in 2016[42] - FFO as adjusted for common shareholders was $95.9 million, a 19% increase compared to $80.7 million in 2016[42] - Net income per share attributable to common shareholders decreased to $0.74, a 10% decrease from $0.82 in 2016[42] Financial Performance (Year Ended 2017) - Total revenue increased to $576.0 million, a 17% increase compared to $493.2 million in 2016[45] - Net income attributable to common shareholders was $234.2 million, a 16% increase from $201.2 million in 2016[45] - FFO as adjusted for common shareholders was $360.5 million, a 17% increase compared to $308.0 million in 2016[45] Capital Markets and Liquidity - Total debt was $3.0 billion as of December 31, 2017[50] - $210 million was outstanding on the $1 billion revolver at the end of 2017[52] - The company prepaid a secured mortgage note payable totaling $11.7 million with an interest rate of 6.19%[52] - The company redeemed all of the outstanding 7.75% Senior Notes due July 15, 2020 for the principal amount of $250 million plus a premium of $28.6 million[52] Investment and Disposition - 2017 investment spending totaled $1.6 billion[20] - Planned dispositions are projected to be between $350 million and $450 million[37]

Financial Performance - Total revenue for Q4 2018 was $166.5 million, a 13% increase compared to $147.7 million in Q4 2017[73] - Net income attributable to common shareholders for Q4 2018 was $48.0 million, a 12% decrease compared to $54.7 million in Q4 2017[73] - FFO (Funds From Operations) attributable to common shareholders for Q4 2018 was $97.7 million, a 25% increase compared to $78.0 million in Q4 2017[73] - Adjusted FFO attributable to common shareholders for Q4 2018 was $105.1 million, a 10% increase compared to $95.9 million in Q4 2017[73] - Total revenue for 2018 was $700.7 million, a 22% increase compared to $576.0 million in 2017[76] - Net income attributable to common shareholders for 2018 was $242.8 million, a 4% increase compared to $234.2 million in 2017[76] - FFO attributable to common shareholders for 2018 was $414.3 million, a 27% increase compared to $327.4 million in 2017[76] - Adjusted FFO attributable to common shareholders for 2018 was $460.4 million, a 28% increase compared to $360.5 million in 2017[76] Portfolio and Investments - Total investments reached $6.8 billion[28] - The company owns 394 properties in service with 99% occupancy[28] - Q4 2018 investment spending was $217 million[28] - 2018 investment spending totaled $572 million[28]

Core Viewpoint - Retired investors are increasingly focusing on monthly dividend stocks as a way to generate income from their savings, with Realty Income, Agree Realty, and EPR Properties being notable options due to their high yields and unique business models [1][14]. Group 1: Company Overview - Realty Income is the largest net lease REIT with over 15,600 properties, primarily in the retail sector, and has a diversified portfolio that includes industrial assets and other opportunistic categories [5][6]. - Agree Realty is smaller, with around 2,400 properties, and is entirely focused on retail in the U.S., which allows for more significant impacts from smaller investments on growth [8]. - EPR Properties specializes in experiential properties like amusement parks and movie theaters, offering the highest yield at 6.2%, but has faced challenges due to the pandemic and changing consumer preferences [10][11]. Group 2: Dividend Performance - Realty Income has a long history of increasing its monthly dividend, with a 4% annualized increase rate over three decades, resulting in a current yield of 5.6% [7]. - Agree Realty has increased its dividend at approximately 6% annually over the past decade, leading to a total growth of over 60% in that period, with a current yield of 4.1% [9]. - EPR Properties' dividend was cut during the pandemic but is now in growth mode, although it remains below pre-cut levels, reflecting ongoing challenges in its business [12][13]. Group 3: Investment Appeal - Realty Income appeals to conservative investors seeking reliable dividends, while Agree Realty attracts those focused on dividend growth [14]. - EPR Properties may appeal to more aggressive investors interested in turnaround stories, despite its higher risk profile [14].