AlphaMadera's AlphaVal page classifies EPR Properties as a Real Estate Investment Trust business and values it using P/FFO × Specialty REIT Multiple, then compares the result to the current market price to flag EPR as undervalued, fairly valued, or overvalued.

What is EPR Properties's fair value?

Fair value for EPR comes from a P/FFO × Specialty REIT Multiple model -- the approach AlphaVal selected for this company's Real Estate Investment Trust classification. The live AlphaVal page shows bear, base, and bull scenarios alongside the key assumption behind each.

How does AlphaMadera value EPR?

AlphaVal routes each company to one of ten valuation archetypes based on its business model. EPR was classified as Real Estate Investment Trust and is valued using P/FFO × Specialty REIT Multiple, built from EPR's most recent reported fundamentals.

EPR - EPR Properties

Price: -- -- | CONSENSUS: Hold DETAILS | PRICE TARGET: $65.50 DETAILS

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Specialty REIT Multiple

Valuation Signal Undervalued Strong

Trading 56.8% below fair value

Current Price $59.61

Bear Case $112.60 88.9% upside ($112.60 - $59.61) / $59.61 = 88.9% $5.80 FFO × 27x

Fair Value $137.94 131.4% upside ($137.94 - $59.61) / $59.61 = 131.4% $5.80 FFO × 33x

Bull Case $163.29 173.9% upside ($163.29 - $59.61) / $59.61 = 173.9% $5.80 FFO × 39x

Adjust Assumptions

P/FFO Multiple

32.6x

FFO per Share

5.8$

Key Value Driver

FFO/share ($5.80) × specialty P/FFO multiple

Terminal Value % of EV

Implied Market Multiple 10.3x

Market is pricing in (growth)

Plain-Language Summary

At $5.80 FFO/share with a 33x specialty REIT multiple, the base-case value is $137.94 per share. Dividend yield: 2.1%. DDM cross-check: $18.88.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (22 analysts) $65.50

Analyst Range $61.00 – $70.50

Divergence from AlphaVal 111%

Warnings

⚠ Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.

ℹ Dividend-based valuation: $18.88 (86% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.

ℹ Wall Street's average price target is $65.50 (from 22 analysts). Our estimate is 111% above the consensus -- consider that gap carefully.

Key Risks

P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
Interest rate sensitivity: REIT multiples compress when rates rise
FFO approximation (NI + D&A) may include gains on property sales — verify