EPR - EPR Properties stock falls after tenant's parent evaluates options on debt
- EPR Properties ( NYSE: EPR ) stock has dropped 7.8% in midday Wednesday trading after one if its movie theater tenants said it's evaluating options including a potential balance sheet restructuring as ticket sales have been below expectations.
- Shares in Cineworld ( OTCPK:CNWGY ) ( OTCPK:CNNWF ), the owner of No. 2 U.S. theater chain Regal, lost half its value after it said it's looking into ways to boost liquidity and deal with its debt.
- In response, EPR ( EPR ) disclosed that Regal is current on all payments due to the REIT and isn't in current negotiations with Regal or Cineworld regarding their obligations to EPR.
- Regal Entertainment accounted for $44.6M, or 17.8% of EPR Properties' 2021 revenue, according to the company's 10-K .
- SA contributor Steven Fiorillo digs into EPR's dividend yield
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EPR Properties stock falls after tenant's parent evaluates options on debt