EPR Properties reported its financial results for the second quarter of 2025, showing a total revenue of $178.1 million, a 2.9% increase from $173.1 million in the same period last year. For the first half of 2025, total revenue reached $353.1 million, up 3.8% from $340.3 million in the first half of 2024. The company’s net income available to common shareholders for the second quarter was $75.6 million, or $0.91 per diluted share, compared to $45.1 million, or $0.51 per diluted share, in the prior year, reflecting a significant increase of 78.4%. For the six months ended June 30, 2025, net income available to common shareholders was $141.4 million, or $1.69 per diluted share, compared to $107.8 million, or $1.26 per diluted share, in the same period of 2024.
The company experienced notable changes in its financial performance, particularly in rental revenue, which increased to $150.4 million for the second quarter, up from $145.1 million a year earlier. This growth was attributed to property acquisitions and developments completed in 2025 and 2024, as well as increased rental revenue from existing properties. Additionally, EPR Properties recognized a gain on the sale of real estate totaling $16.8 million in the second quarter, compared to $1.5 million in the same quarter of 2024. The company also reported a decrease in other expenses, which fell to $11.96 million from $14.83 million year-over-year.
In terms of strategic developments, EPR Properties completed significant investment activities during the first half of 2025, totaling $86.3 million, which included the acquisition of an attraction property in New Jersey and land for a new build-to-suit property in Virginia. The company also sold multiple properties, generating net proceeds of $106.4 million and recognizing a net gain of $26.2 million. As of June 30, 2025, EPR Properties had total assets of approximately $5.56 billion, a slight decrease from $5.62 billion at the end of 2024, primarily due to changes in real estate investments and cash balances.
Operationally, EPR Properties reported a total of 151 theatre properties and 58 eat & play properties within its portfolio, with a total of 19.6 million square feet of wholly-owned real estate, 99% of which was leased or operated. The company’s investment in mortgage notes receivable was $666.2 million, reflecting a stable position compared to $665.8 million at the end of 2024. The company’s employee headcount remained consistent, supporting its operational needs as it continues to expand its portfolio.
Looking ahead, EPR Properties expressed optimism about its growth trajectory, emphasizing its focus on long-term investments in the experiential sector. The company plans to continue leveraging its relationships and industry knowledge to identify and acquire properties that align with its strategic objectives. EPR Properties also highlighted its commitment to maintaining a conservative capital structure while pursuing opportunities for expansion, including potential future equity offerings and debt financing to support its investment activities.
About EPR PROPERTIES
EPR Properties is a real estate investment trust specializing in experiential properties such as theaters, entertainment venues, attractions, and leisure destinations. It leases properties to operators in the entertainment, recreation, and education sectors, generating income through long-term triple-net leases and mortgages. The company focuses on diversified, high-quality assets in the U.S. and Canada, emphasizing long-term growth, tenant relationships, and strategic dispositions.
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