EPR Properties: A Strong Finish to 2024 and a Promising Outlook

As we step into 2025, EPR Properties (NYSE:EPR) has announced its fourth quarter and year-end 2024 earnings conference call, scheduled for February 27, 2025. This REIT, specializing in experiential net lease real estate, has had a strong run in 2024, and investors are eager to hear about its performance and future prospects. Let's dive into the key aspects of EPR Properties' recent developments and what we can expect from the upcoming earnings call.



EPR Properties' Investment Strategy and Performance in 2024
EPR Properties has maintained a disciplined approach to capital deployment, focusing on maintaining a strong balance sheet while executing on its pipeline of opportunities. The company's investment spending guidance for 2024 is $200.0 million to $300.0 million, reflecting a more targeted and disciplined approach compared to previous years. This spending has been allocated to various experiential build-to-suit development and redevelopment projects, as well as the acquisition of a third climbing gym in Belmont, California.



The company's strong liquidity position, with cash on hand of $78.1 million, no borrowings on its $1.0 billion unsecured revolving credit facility, and a consolidated debt profile that is all at fixed interest rates with only $136.6 million maturing in 2024, has allowed EPR Properties to maintain financial flexibility while minimizing risk.

EPR Properties' 2024 Guidance and Dividend Increase
EPR Properties has introduced FFOAA per diluted common share guidance for 2024 of $4.76 to $4.96, representing an increase of 3.2% at the midpoint over 2023 after excluding the impact from both years of out-of-period deferred rent and interest collections from cash-basis customers included in income. The company has also introduced investment spending guidance for 2024 of $200.0 million to $300.0 million and disposition proceeds guidance of $50.0 million to $75.0 million.

Based on its expectation of its financial results for 2024, EPR Properties has announced an increase in its monthly dividend of 3.6%. This increase demonstrates the company's confidence in its financial performance and commitment to providing reliable earnings growth to its shareholders.



What to Expect from the EPR Properties Q4 2024 Earnings Call
As we await the EPR Properties Q4 2024 earnings call, investors can expect to hear about the company's performance in the fourth quarter and the full year, as well as its outlook for 2025. Key topics of interest may include:

1. EPR Properties' FFOAA per diluted common share for the fourth quarter and the full year, and how it compares to the company's guidance.
2. The company's investment spending in the fourth quarter and the full year, and how it aligns with the company's guidance.
3. EPR Properties' disposition proceeds for the fourth quarter and the full year, and how they compare to the company's guidance.
4. The company's dividend payout and any updates to its dividend policy.
5. EPR Properties' outlook for 2025, including its FFOAA per diluted common share guidance, investment spending guidance, and disposition proceeds guidance.
6. Any updates on the company's investment pipeline, including new acquisitions and development projects.
7. The company's balance sheet and liquidity position, and any updates on its debt profile.

In conclusion, EPR Properties has had a strong run in 2024, with a disciplined approach to capital deployment and a focus on maintaining a strong balance sheet. The company's 2024 guidance and dividend increase reflect its confidence in its financial performance and commitment to providing reliable earnings growth to its shareholders. As we await the EPR Properties Q4 2024 earnings call, investors can expect to hear about the company's performance and outlook for 2025, as well as any updates on its investment pipeline and balance sheet. With its focus on experiential properties and disciplined approach to capital deployment, EPR Properties is well-positioned to continue its strong performance in the years to come.