EPR Properties (EPR)
Real Estate · NYQ · US
Fundamentals
Valuation and ratings
EPR Properties trades at USD62.26, which is 51% above the USD30.27 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 67 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 18.4 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About EPR Properties
EPR Properties is the leading diversified experiential net lease real estate investment trust, specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues that create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have total assets of approximately 5.7 billion US dollars (after accumulated depreciation of approximately 1.8 billion US dollars) across 42 states and Canada. 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. EPR Properties was established on August 22, 1997 and is based in Kansas City, United States.
EPR passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
10 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$72.25M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$38.72M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$28.20M · 0.0% of book
- Marshall Wace, MARSHALL WACE, LLP$22.57M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$18.35M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is EPR Properties (EPR) undervalued?
Against our discounted cash flow estimate of USD30.27, EPR at USD62.26 is 51% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own EPR?
10 of the institutions we track reported a position in EPR in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is EPR's P/E ratio?
EPR trades at 18.4 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.