EPR Properties reports a higher profit and a theater acquisition
04/29/2014 5:08 PM
04/29/2014 5:16 PM
EPR Properties on Tuesday reported higher net income and revenue in the first quarter.
The Kansas City real estate investment trust earned $37.6 million in the three months that ended March 31, up from $35.3 million in the same period in 2013.
Total revenue climbed 8 percent to $89.9 million in the quarter.
EPR, which invests in entertainment, education, recreation and properties, said its real estate portfolio consisting of 14.6 million square feet was 99 percent leased at the end of the quarter.
In addition, EPR said it acquired 11 movie theater properties in Missouri and six other states for about $118 million on April 21. The theaters, which have a combined 139 screens, are leased to a subsidiary of Regal Cinemas.
David Brain, EPR’s chief executive and president, said the company remains “on track for another year of strong growth.”
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