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Posted by
Two Blokes Jul 11 -
Filed in
Stock
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8 views
EPR Properties' recovery from the pandemic appears overdone, as the stock trades at only a slight discount to more diversified REIT peers. I am concerned about EPR's high exposure to movie theaters—standing at 38% of profits—given the sector's long-term secular decline and tenant profitability risks. Despite recent strong FFO growth, EPR's slim risk premium and concentrated tenant base make it less attractive than peers with broader diversification.
