EPR Properties (EPR) Stock

EPR Properties (EPR) is a Real Estate stock trading at $60.38 (as of 2026-08-21), with a market capitalization of $4.63B and a trailing P/E of 17.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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.

Understand EPR Properties: how it makes money

EPR Properties is an experiential net lease REIT that owns real estate venues for out-of-home leisure and recreation experiences, and it makes money primarily by collecting contractual rental cash flows from its properties and tenants.

Profit is driven by whether tenants generate and EPR collects contractual cash rent, which shows up as Cash Collections from Contractual Cash Revenue relative to Rental revenue.

Business quality (Solid): EPR describes a focused net lease portfolio built on tenant and property cash flow underwriting, and its latest-quarter disclosures emphasize rental cash collections and operating performance (operating margin reported at 55.5%). The key limitation is that the provided data does not break out more detailed segment or occupancy-level drivers.

Valuation: At 18× earnings, EPR trades 47% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

Focused experiential net lease strategy: EPR focuses on select enduring experiential properties that support out-of-home leisure and recreation experiences.
Cash flow underwriting emphasis: EPR highlights rigorous underwriting criteria centered on tenant-level and property-level cash flow standards.
Portfolio scale: EPR reports nearly $6.7 billion in total investments across 44 states.

Bear case

Reliance on tenant cash rent: Because the business model centers on contractual rental cash flows, any disruption that affects tenant cash flow or rent collection can pressure results.
Sensitivity to discretionary spending: EPR targets experiential venues where consumers choose how to spend discretionary time and money, which can be vulnerable if consumer demand softens.

Valuation — source: SEC EDGAR (first-party)
Price	$60.38
Market Cap	$4.63B
P/E Ratio	17.9
EV / EBITDA	13.5
Price / Book	2.00
Price / Sales	6.24
FCF Yield	4.4%
DCF Value (model)	$36.27
DCF Upside vs Price	-39.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$718.36M
Net Margin	38.3%
Revenue Growth (YoY)	2.9%
EPS Growth (YoY)	105.0%
FCF Growth (YoY)	108.3%

Valuation vs Sector & Industry
Stock P/E	17.9
Sector P/E (Real Estate)	27.2
Industry P/E (Trading)	35.3
vs Sector	-34.3%
vs Industry	-49.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($540.99M)
Institutional Holders Tracked	10
Congressional Trades (recent)	1

Company
Sector	Real Estate
Industry	Trading
CEO	Gregory K. Silvers
Employees	55
Country	US
IPO Date	1997-11-18

Related Companies (Business model: Equity REIT (Real Estate Investment Trust); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.