Company: EPR-PE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001045450-25-000120
Chunk: 78

Company: EPR PROPERTIES
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 78
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 of 19.6 million square feet, which includes 0.2 million square feet of properties we intend to sell. The wholly-owned portfolio, excluding the vacant properties the Company intends to sell, was 99% leased or operated.

International Trade Environment

In recent months, the U.S. government has imposed, and is considering imposing, tariffs and trade restrictions on certain goods produced outside of the United States, including an indication that a tariff on foreign-made films may be imposed. In response to these actions, certain foreign jurisdictions have imposed, or are considering imposing, tariffs and retaliatory restrictions on goods produced in the United States. In addition, the U.S. government has announced and rescinded multiple tariffs on several foreign jurisdictions, which has increased uncertainty regarding the ultimate effect of tariffs on economic conditions. 

The overall economic uncertainty caused by these or additional changes in the U.S. or international trade policy, along with continued uncertainty surrounding such policies, could also lead to weakened economic conditions, contribute to inflation and increased borrowing costs and could lead to decreased consumer spending. Additionally, tariff increases may impact us by increasing the cost of imported construction materials, which in turn can lead to higher development and renovation expenses. This increase in costs may result in reduced yields on development projects and potentially delay or result in cancelling planned projects. Furthermore, our tenants are similarly experiencing negative pressures from these uncertain economic conditions, which could negatively affect their ability to satisfy their obligations to us. 

Operating Results

Our total revenue, net income available to common shareholders per diluted share and Funds From Operations As Adjusted ("FFOAA") per diluted share (a non-GAAP financial measure) are detailed below for the three and six months ended June 30, 2025 and 2024 (in millions, except per share information):

Three Months Ended June 30,Six Months Ended June 30,20252024% Change20252024% ChangeTotal revenue$178.1 $173.1 2.9 %$353.1 $340.3 3.8 %Net income available to common shareholders per diluted share$0.91 $0.51 78.4 %$1.69 $1.26 34.1 %FFOAA per diluted share$1.26 $1.22 3.3 %$2.45 $2.34 4.7 %

The major factors impacting our results for the three and six months ended June 30, 2025