EPR Properties stock pares losses after disclosing Cineworld’s Regal is current on all payments


Shares of EPR Properties EPR, -6.32% tumbled as much as 9.5% intraday before bouncing to be down 6.9% midday Wednesday, after the real estate investment trust (REIT) commented on Cineworld Group PLC’s CNWGY, -51.95% CINE, -60.38% disclosure that it was evaluating options for additional liquidity and a balance sheet restructuring. EPR noted that U.K.-based movie theater operator Cineworld is the parent of entities that lease EPR’s Regal theaters; cinema chain operator Regal Entertainment is a Cineworld subsidiary. Cineworld’s U.S.-listed shares plummeted 56.8% to a record low. EPS said in an 8-K filing with the Securities and Exchange Commission that it intends to have discussions with investors, analysts and securities advisers to disclose certain previously undisclosed information, including: “Regal is current on all payments due EPR” as of Wednesday, and that the company “is not in current negotiations with Regal or Cineworld regarding their obligations to EPR Properties.” EPS shares have gained 0.4% over the past three months while the S&P 500 SPX, -0.23% has advanced 4.5%.

This article was originally published by Marketwatch.com. Read the original article here.

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