EPR Properties(US:EPR)2025-05-07 21:53Portfolio Overview - Total portfolio coverage increased to 2.0x TTM March 2025 from 1.9x YE 2019[14] - Experiential portfolio consists of 276 properties with 51 operators, totaling approximately $6.4 billion in investments and is 99% leased or operated[15] - Education portfolio includes 55 properties with 5 operators, and is 100% leased[15] - Q1 investment spending reached $37.7 million[17] Box Office and Spending Trends - Q1 box office was $1.4 billion, a decrease of 11.6% compared to 2024[22] - Year-to-date box office through May 5 is $2.5 billion, an increase of 17.1% compared to 2024[22] - Per patron food and beverage (F&B) spending increased by approximately 60% from 2019 to 2024[24] - Margin on ticket sales is 46%, while margin on F&B sales is 82%[24] Capital Activity - Properties were sold, resulting in $70.8 million in net proceeds and a net gain of $9.4 million[41] - Sold a portfolio of 9 leased early childhood education centers (ECEs) at a 7.4% cap rate[41] - Received $8.1 million in net proceeds from the payment in full of two mortgages[38] Financial Performance & Guidance - Total revenue for the quarter ended March 31, 2025, was $175.0 million, a 4.7% increase from $167.2 million in 2024[45] - Net income attributable to common shareholders was $59.8 million, a 5.5% increase from $56.7 million in 2024[45] - The company revised its 2025 disposition proceeds guidance to $80 million - $120 million[52]