EPR Properties Reports 10.1% Revenue Growth to $196.1 Million in Q2 2026

EPR Properties reported its financial results for the second quarter of 2026, revealing a total revenue of $196.1 million, a 10.1% increase from $178.1 million in the same period last year. For the first half of 2026, total revenue reached $377.3 million, up 6.9% from $353.1 million in the first half of 2025. The company's net income available to common shareholders for the second quarter was $61.1 million, translating to $0.79 per diluted share, down from $69.6 million or $0.91 per diluted share in the prior year. For the six months ended June 30, 2026, net income available to common shareholders was $117.7 million, or $1.53 per diluted share, compared to $129.4 million, or $1.69 per diluted share, in 2025.

The company experienced significant changes in its financial metrics compared to the previous fiscal period. Rental revenue increased to $169.0 million for the second quarter, up from $150.4 million a year earlier, driven by property acquisitions and contractual rent increases. However, the company reported a decrease in other income and a rise in expenses, including a notable retirement and severance expense of $1.4 million related to the retirement of its Chief Investment Officer. Additionally, the provision for credit losses showed a net benefit of $138,000, reflecting improved property performance.

Strategically, EPR Properties made substantial investments totaling $492.2 million in the first half of 2026, which included the acquisition of seven attraction properties from Six Flags Entertainment Corporation for $304.4 million. The company also converted a $70 million mortgage note receivable into a wholly-owned rental property, recognizing a gain of approximately $1.0 million in the process. The company’s total assets increased to $6.1 billion as of June 30, 2026, compared to $5.7 billion at the end of 2025, with real estate investments net of depreciation rising to $4.95 billion.

Operationally, EPR Properties reported a total of 148 theatre properties and 61 eat & play properties within its portfolio, which was 99% leased or operated. The company’s geographic footprint spans 43 states and Canada, with a focus on experiential and educational properties. The company’s employee headcount remained stable, supporting its operational needs as it continues to expand its portfolio.

Looking ahead, EPR Properties anticipates continued growth driven by its strategic investments and acquisitions. The company has a remaining capacity of $329.1 million under its at-the-market program, which it plans to utilize for future investments. The recent amendments to its credit agreement, which extend the maturity date and reduce interest rates, are expected to enhance its financial flexibility. However, the company remains cautious about potential market risks, including geopolitical uncertainties and inflationary pressures that could impact its operations and tenant performance.