- EPR Properties (NYSE:EPR) boosts 2018 guidance for adjusted FFO per share to $6.03-$6.09 from its previous range of $5.97-$6.07.
- Narrows 2018 investment spending guidance to $500M-$600M from prior view of $450M-$650M
- Confirms year disposition proceeds guidance of $450M-$500M.
- "Our positive results to date, combined with our constructive outlook, allows us to increase our annual earnings guidance for 2018," says President and CEO Greg Silvers.
- Q3 adjusted FFO per share increased to $1.58, or 18 cents higher than consensus estimate; compares with $1.26 a year ago.
- Contributing to earnings were additional prepayment fees received from OZRE, Silver said. It received $94.9M in proceeds from OZRE representing payment in full on the remaining mortgage note receivable of $74.9M secured by six ski properties plus prepayment fee totaling $20M.
- EPR's month-by-month lease agreement with Children's Learning Adventure USA related to 21 schools extended leas to October 2018. If lease isn't further extended CLA will be required to vacate these properties. If that's the case, EPR intends to lease some or all of the 21 schools to other operators..
- Previously: EPR Properties beats by $0.18, beats on revenue (Oct. 29)
- Now read: EPR Properties: Playing The Millennial Card
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