2024-03-05 15:45:04 ET
EPR Properties (EPR)
Citi's 2024 Global Property CEO Conference Call
March 5, 2024 09:35 AM ET
Company Participants
Greg Silvers - Chairman and Chief Executive Officer
Mark Peterson - Chief Financial Officer
Greg Zimmerman - Chief Investment Officer
Brian Moriarty - SVP of Corporate Communications
Conference Call Participants
Smedes Rose - Citi Research
Presentation
Smedes Rose
Okay. Welcome to Citi’s 2024 Global Property CEO Conference. I am Smedes Rose with Citi Research. We are pleased to have with us EPR Properties and CEO, Greg Silvers. This session is for Citi clients only. If media or other individuals are on the line, please disconnect now. Disclosures are available on the webcast and at the AV desk. For those in the room or on the webcast, you can go to liveqa.com and enter code GPC24 to submit any questions. If you do not want to raise your hand or if you’re in the room, you can just use one of the mics we have here.
Greg, I’m going to turn it over to you to introduce who is with you from the company, today, maybe provide a few opening overview remarks of EPR and then maybe just give us a few reasons of why you think investors should be buying the stock today. And then we'll go into Q&A, and thank you for being here.
Greg Silvers
Well, thank you, Smedes, and thanks for having us and those joining us. To my left is Greg Zimmerman, our Chief Investment Officer; to my right is Mark Peterson, our Chief Financial Officer; and sitting to his right is Brian Moriarty, our Chief Communications Officer.
Again, when we talk about what EPR is, EPR really is the only truly diversified experiential REIT. We focus on experiential properties, that meaning, primarily you don't go there to buy a product, you're buying an experience, whether that's the movies, skiing, attractions, museums, all of those things. And what's really, I think, important to understand for us and what's compelling is value, value, value. We're trading at, post-COVID at a highly discounted multiple to our historical multiple, yet our businesses now -- our rent coverage is above what it was pre-COVID, both in terms of our non-theater and our theater business, is back to its pre-COVID level. ...
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EPR Properties (EPR) Presents at Citi's 2024 Global Property CEO Conference (Transcript)