Stock Track | EPR Properties Jumps 6% on Strategic Progress, Dividend Hike Despite Profit Miss

Stock Track11-01

Shares of EPR Properties (NYSE: EPR) surged over 6% on Wednesday after the experiential real estate investment trust (REIT) reported mixed third-quarter results but showed progress in its strategic shift away from movie theatres.

While EPR missed earnings expectations with profits down around 20% year-over-year, the company beat revenue forecasts as its experiential investments outside of theatres continued to grow. Total revenue of $180.5 million exceeded estimates of $144 million, though it declined 4.7% compared to Q3 2023 due to EPR's ongoing pivot.

EPR is pivoting away from its historical focus on movie theatre properties towards investments in experiential real estate like ski resorts, waterparks, golf ranges and other recreation venues. This transition has been driven by challenges in the theatre industry from competition like streaming services.

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