EPR Properties (NYSE:EPR) Nareit REIT Week: 2024 Investor Conference Call June 5, 2024 3:30 PM ET
Company Participants
Greg Silvers - Chairman, President & Chief Executive Officer
Greg Zimmerman - Chief Investment Officer
Mark Peterson - Chief Financial Officer
Conference Call Participants
Rob Stevenson - Janney Montgomery Scott
Rob Stevenson
Good afternoon, everyone. My name is Rob Stevenson. I run the real estate equity research team at Janney Montgomery Scott. This is the 3:30 session with experiential triple net REIT EPR Properties, ticker, EPR. We have several members of management with us today. So, why don't I turn it over to management? We could talk about the company, and take your questions at the end of this session.
With that, it's my pleasure to turn it over to Greg Silvers, EPR's Chairman, President and CEO, to introduce both the company as well as its management team. Greg?
Greg Silvers
Thank you, Rob.
Joining me up here today to my left is Mark Peterson, our CFO, and Greg Zimmerman, our Chief Investment Officer.
As Rob indicated, we are a net lease REIT. We focus on experiential properties. So, our tenants look like movie theatres and Vail and the ski, Six Flags, Topgolf, many household names that you guys have heard. I think the very positive thing that we're talking about, again, if you look at how we're doing in this environment right now, well, theatres, our rent coverage level is back to the level that it was in 2019. And our non-theatre portfolio is 30% ahead of where it was in 2019. So, the consumer is clearly speaking. They value experiential product. It's where they're spending their dollars. They're supported with the two largest demographic group being the baby boomers and the millennials. And we're seeing the benefit of that. Again, much like many people, we're kind of challenged in this environment with our cost of capital, but we're pleased to talk about the outstanding results
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