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EPR Properties Reports Fourth Quarter and 2018 Year-End Results

EPR Properties (NYSE:EPR) today announced operating results for the
fourth quarter and year ended December 31, 2018.


Three Months Ended December 31, 2018





Total revenue was $166.5 million for the fourth quarter of 2018,
representing a 13% increase from $147.7 million for the same quarter
in 2017.






Net income available to common shareholders was $48.0 million, or
$0.65 per diluted common share, for the fourth quarter of 2018
compared to $54.7 million, or $0.74 per diluted common share, for the
same quarter in 2017.






Funds From Operations (FFO) (a non-GAAP financial measure) for the
fourth quarter of 2018 was $97.7 million, or $1.30 per diluted common
share, compared to $78.0 million, or $1.06 per diluted common share,
for the same quarter in 2017.






FFO as adjusted (a non-GAAP financial measure) for the fourth quarter
of 2018 was $105.1 million, or $1.39 per diluted common share,
compared to $95.9 million, or $1.29 per diluted common share, for the
same quarter in 2017, representing an 8% increase in per share results.





Year Ended December 31, 2018





Total revenue was $700.7 million for the year ended December 31, 2018,
including $71.3 million in non-education related prepayment fees,
representing a 22% increase from $576.0 million for the same period in
2017.






Net income available to common shareholders was $242.8 million, or
$3.27 per diluted common share, for the year ended December 31, 2018
compared to $234.2 million, or $3.29 per diluted common share, for the
same period in 2017.






FFO (a non-GAAP financial measure) for the year ended December 31,
2018 was $414.3 million, or $5.51 per diluted common share, compared
to $327.4 million, or $4.58 per diluted common share, for the same
period in 2017.






FFO as adjusted (a non-GAAP financial measure) for the year ended
December 31, 2018 was $460.4 million, or $6.10 per diluted common
share, compared to $360.5 million, or $5.02 per diluted common share,
for the same period in 2017, representing a 22% increase in per share
results.





"The fourth quarter of 2018 capped a successful year in which we
executed a significant capital recycling strategy, realized very strong
returns on our investments and generated robust revenue and earnings
growth,a?? commented Company President and CEO Greg Silvers. "Supported by
our healthy balance sheet and liquidity position, we anticipate a
reacceleration of our investment activity and portfolio growth in 2019.
As the depth and breadth of experiential assets continues to grow, we
are seeing increasing opportunities to diversify our asset base and
drive accretive growth.a??
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