EPR Properties finished 2012 with an 8 percent increase in revenue to $321.8 million and a portfolio of properties nationwide that included 113 megaplex theaters, 38 public charter schools and several other new entertainment venues, including a ski resort in Maryland.
By KEVIN COLLISON
The Kansas City Star
Net income for the year amounted to $93.2 million, up from $84.3 million in 2011.
The Kansas City-based firm, which changed its name last year from Entertainment Properties Trust, finished the year with a strong fourth quarter. Total revenue was $83.4 million, up 11 percent from the same quarter a year earlier. Net income available to common shareholders was $18.8 million, down from $31.9 million in the final three months of 2011.
“The fourth quarter was a continuation of the positive momentum we have been reporting throughout the year,” president and CEO David Brain said in a statement.
“We are optimistic about the year ahead as we maintain a strong investment pipeline and, when combined with our strong balance sheet, we believe that we are well positioned to grow earnings and support our increased dividend level.”
The company announced a dividend for the first quarter of 2013 of 79 cents per common share, payable on April 15 to shareholders of record as of March 28.
EPR’s core portfolio of entertainment properties, mostly megaplex theaters, totaled 10.7 million square feet and was 98 percent leased. The combined portfolio of 13.9 million square feet, which included charter schools and recreational properties, was 98 percent leased.
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