EPR Properties（EPR）资讯与事件EPREPR Properties

Company Reports Q2 Revenue of $196.08M, Exceeds Consensus

Reports Q2 revenue $196.079M, consensus $188.8M.

EPR Properties Enters $1B Credit Agreement

EPR Properties entered into a Fifth Amended, Restated and Consolidated Credit Agreement, governing an amended and restated $1B senior unsecured revolving credit facility and a new $600M senior unsecured delayed draw term loan facility. The new facilities replace the Company's existing $1B senior unsecured revolving credit facility. The new facilities provide for an initial maximum principal amount of borrowing availability of $1.6B with an "accordion" feature under which the Company may increase the total maximum principal amount available by $1B, to a total of $2.6B, subject to lender consent and customary conditions. The amendments to the revolving credit facility extend the maturity date from October 2, 2028 to July 17, 2030, with two six-month extension options, subject to paying additional fees and the satisfaction of customary conditions, generally reduce the interest rate payable on outstanding loans, and modify the asset value calculations under certain financial covenants to include the Company's expected cash proceeds from the sale of its common shares under qualified forward equity contracts. The new delayed draw term loan facility provides for an initial committed amount of $600M that may be drawn upon prior to January 17, 2027, subject to earlier termination, and matures on January 17, 2032. The new facilities include customary covenants and events of default.

Company Raises 2023 Earnings and Investment Spending Guidance

"We are pleased with our first quarter results, including strong earnings growth and the momentum we have established in executing our growth strategy," stated Company Chairman and CEO Greg Silvers. "We deployed over $50 million during the quarter, and subsequent to quarter-end completed the acquisition of six high-quality regional parks with strong fundamentals and compelling long-term value creation potential. We have visibility to attractive opportunities across our target property types, and a balance sheet which provides the capacity to execute on our growth objectives. We are increasing both our earnings and investment spending guidance for the year, which reflects our confidence in the quality of our portfolio, the strength of our pipeline and our ability to continue creating long-term shareholder value."