EPR Properties reports revenue growth in the first quarter

EPR Properties on Tuesday reported an 11 percent increase in first-quarter revenue and a slightly smaller profit.

The Kansas City-based real estate investment trust, which primarily invests in entertainment, education and recreational properties, reported total revenue of $99.4 million for the three months ending March 31. That was up from $89.9 million for the first quarter last year.

But EPR’s net income of $36.9 million was down from $37.6 million for the same quarter in 2014.

The company said its real estate portfolio under ownership consisted of 16.3 million square feet, which was 99 percent leased. EPR also said it had about $390.2 million invested in property under development, including $172.9 million related to a casino and resort project in Sullivan County, N.Y.

EPR increased its earnings guidance for 2015 to a range of $4.34 to $4.44 per adjusted diluted share from $4.32 to $4.42.

This story was originally published April 28, 2015 at 4:13 PM with the headline "EPR Properties reports revenue growth in the first quarter."