EPR Properties (EPR) PT Lowered to $48 at RBC Capital

RBC Capital analyst Michael Carroll lowered the price target on EPR Properties (NYSE: EPR) to $48.00 (from $49.00) while maintaining a Sector Perform rating.

The analyst comments "We are adjusting our estimates and outlook post the 1Q24 report. EPR continues to recover from the theatrical disruptions (COVID and actor/writer strikes), and encouragingly, the outlook appears brighter today. However, we believe the stock will continue to trade at a discount until the box office rebounds (likely in 2025) and/or management is able to reduce its theater exposure (via sales or JV). Therefore, we are maintaining our rating and lowering our target to $48/share (from $49.00/share)."

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