EPR Properties hikes dividend, details Q4'21 investments

EPR Properties increased its monthly dividend to 27.5 cents per common share.

The cash dividend is payable April 18 to shareholders of record as of March 31 and represents an annualized dividend of $3.30 per share, up 10% over the previous year's payout.

In addition, the company detailed its investment activity for the fourth quarter of 2021 in reporting its recent financial results.

During the quarter, the diversified net-lease real estate investment trust spent a total of $25.6 million, bringing its total spending for 2021 to $133.5 million. In this period, the company purchased a Topgolf development property in Ontario, Calif., for $22.1 million.

Also during the quarter, the company sold several properties for net proceeds of $65.3 million and recognized a net gain on sale of $16.4 million.

EPR Properties said its cash collections from both accrual and cash-basis tenants and borrowers were about $133.8 million, or 97% of contractual cash revenue for the fourth quarter. It also collected deferred rent and interest from accrual basis tenants and borrowers.

The company likewise collected $1.5 million from a borrower, bringing the latter's total principal repayment to $8.4 million through the end of 2021.