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EPR Properties: Business Overview, Financials & Competitive Analysis

EPR Properties is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties. The company focuses on leisure and recreation venues inclu...

Analyst-debate audio for EPR Properties

AskCyborg analysts argue the bull and bear cases for EPR Properties across 11 stress-tested dimensions. Listen on your commute -- faster than reading the 30-page report.

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7/ 10Strong

Cyborg Score thesis

Diversified experiential REIT doubling investment pace in 2026 with attractive 6%+ dividend yield, strong balance sheet, and...

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Industry Experiential Real Estate Investment Trust (Net Lease REIT)
3 named competitors
4 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 14, 2026
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EPR Properties Overview

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EPR Properties is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties. The company focuses on leisure and recreation venues including golf courses, waterparks, and climbing facilities. Full-year 2025 investment activity totaled $288.5 million, including a $90.7 million portfolio of five championship golf courses in Dallas, a $23.2 million Ocean Breeze Waterpark acquisition, and early 2026 acquisition of VITAL Climbing Lower East Side for $34 million.

Strategic Profile

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EPR is providing 2026 investment spending guidance of $400 million to $500 million, reflecting deep relationships and high-quality investment opportunities. For the year ended December 31, 2025, FFOAA per diluted common share and AFFO per diluted common share increased by 5.1% and 6.2%, respectively. The company is simultaneously repositioning away from theatrical properties—having sold 33 theatres over the past five years with only one vacant theatre remaining in the portfolio.

Competitive Landscape

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EPR is positioned as the leading diversified experiential net lease REIT. Key competitors include Realty Income (O), STORE Capital, and W.P. Carey, which operate in the broader net lease REIT space. EPR's differentiation lies in its focused exposure to high-quality experiential venues (golf, waterparks, climbing) versus competitors' broader commercial real estate diversification.

Industry Context

EPR Properties operates in Experiential Real Estate Investment Trust (Net Lease REIT).

Key facts

Headquarters: Kansas City, Missouri · Revenue: $718.4M · Market cap: $4.6B

What the analysts stress-tested

The top findings that survived the multi-agent debate for EPR Properties.

  • Company provided FY 2026 earnings per share guidance of 5.28-5.48, significantly above consensus estimate of 3.82
  • FY 2026 FFOAA guidance represents 5.1% midpoint increase over 2025
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Raised FY 2026 EPS guidance significantly above consensus expectations to $5.28-$5.48
  • February 2026Increased monthly dividend 5.1% and provided $400M-$500M 2026 investment spending guidance
  • +2 moreTrack every material event for EPR Properties as it happens. Explore monitoring →
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Realty IncomeDiversified net lease REIT with monthly dividend focus→STORE CapitalNet lease REIT investing in retail and industrial properties→W.P. CareyDiversified net lease REIT with global footprint→

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Industry context

EPR Properties operates in Experiential Real Estate Investment Trust (Net Lease REIT). See how the rest of the sector scores on the Cyborg framework.

Browse Experiential Real Estate Investment Trust (Net Lease REIT) research →
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Frequently asked questions

What does EPR Properties do?+
EPR Properties is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties. The company focuses on leisure and recreation venues inclu...
What is EPR Properties's Cyborg Score?+
EPR Properties has a Cyborg Score of 7/10 (Strong). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are EPR Properties's main competitors?+
Named competitors include Realty Income, STORE Capital, W.P. Carey. The full competitive landscape is in the AskCyborg report.
How can I get the full EPR Properties research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the EPR Properties research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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