EPR Properties downgraded to Market Perform from Outperform at JMP Securities

JMP Securities downgraded EPR Properties to Market Perform from Outperform without a price target. EPR was one of the top-performing names across the net-lease real estate investment trust sector in 2023, following a “masterful” resolution of the Regal lease, while the movie theater industry boasted over 20% box office growth in 2023, improving sentiment, the analyst tells investors in a research note. However, the writers and actors strikes could create some production delays, impacting 2024 box office receipts, says the firm. It believes a lower box office could impact sentiment and cause shares to trade range-bound.