A Fresh Update on a 7.3% Yielder

It's cut its dividend before... Would it do it again? [Shield] AN OXFORD CLUB PUBLICATION [Wealthy Retirement]( [View in browser]( SPONSORED [It's a Bird, It's a Plane, NO WAIT - It's "The Last Great Value Stock"]( [Superhero Businessman]( "The Last Great Value Stock" was discovered by our Head Fundamental Tactician. At under $3 per share, this could be the last bargain in the markets today! It wasn't until his debut that Superman became one of the most iconic superheroes in history. An announcement in February could be this stock's debut. [Get Details Here.]( [SAFETY NET]( [Can This 7.3% Yielder Endure Another Black Swan Event?]( [Marc Lichtenfeld, Chief Income Strategist, The Oxford Club]( [Marc Lichtenfeld]( It's been four years since Safety Net looked at EPR Properties (NYSE: EPR), which describes itself as "the leading experiential real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry." I sure hope the consultant who came up with that wasn't getting paid by the word. Basically, EPR is saying it is the leading company that owns properties where people do stuff and it specializes in long-term properties where people do stuff related to real estate. EPR owns 359 properties and rents them out to more than 200 tenants - companies that run theaters, ski resorts, amusement parks and more. It also has a small portfolio of private schools and preschools. Four years ago, we gave EPR a "C" for dividend safety, which meant there was a moderate risk of a cut. That was just weeks before COVID-19 hit, and the company promptly eliminated its monthly dividend in May of that year. When EPR brought the dividend back in July 2021, it was lower than the $0.3825 per share it had been paying prior to the pandemic, and the dividend remains below that level today. Barring another global pandemic, is EPR's dividend safe? SPONSORED [O'Reilly Invites "Futurist" on Camera to Defend Outrageous Wealth Prediction (Uh-Oh!!)]( [See It Now]( Bill O'Reilly will challenge anyone... Jon Stewart, Barack Obama, Donald Trump... even the entire cast of The View. Rarely will you ever see O'Reilly himself SHOCKED by anything... But that's exactly what happened after he invited a "futurist" to defend an outrageous prediction about the financial future of America. You'll GASP when you see this... [SEE IT HERE.]( Not surprisingly, EPR's funds from operations (FFO) were higher in 2022 than in 2021, when the company's performance was still stunted by COVID-19. FFO is the measure of cash flow that we use to analyze REITs' dividend safety. Full-year results for 2023 have not yet been released, but FFO likely climbed substantially. This year, however, cash flow is projected to dip, which is a red flag for Safety Net. [Chart: Will EPR's FFO Be a Roller-Coaster Ride?]( [View larger image]( EPR is projected to have paid out $248 million in dividends in 2023, which equals 64% of its FFO. This year, the total amount paid in dividends is expected to increase slightly to $250 million, which, combined with falling FFO, will result in a payout ratio of 68%. Both of those payout ratio figures are good. As long as a REIT's total dividend payout is less than 100% of its FFO, I'm happy. EPR has paid shareholders $0.275 per share nearly every month since March 2022. At the stock's current price, that comes out to an attractive 7.3% yield. But before I go on and reveal my grade, I'd like to hear your thoughts. How do you feel about EPR's dividend safety? Are you worried about the potential decline in cash flow this year? What do you think about the company's payout ratio? Click the button below to share your take - and then scroll up to finish reading and view my grade. [Share Your Grade Here]( [The Oxford Club's Wealth, Wine and Wander Tour of Spain - Barcelona, Granada, Seville and Madrid, June 6-16, 2024 (plus special extension through June 21)]( BUILD AND PROTECT YOUR WEALTH [Have Your Stocks Taken a Beating? See the (Secret) Signal That Separates Big Winners From Painful Losers. Watch the Full Presentation.]( [Putting the "January Barometer" to the Test]( [Former CBOE Trading Legend Showed Members 246% Total Gains While the S&P Was Down 20% During the COVID Crash. Now He's Hosting a Free Class Revealing the Answer to Big Wins. Click for More!]( [How I’m Trading This Week of Earnings]( MORE FROM WEALTHY RETIREMENT [Article]( [PayPal: Dominant and Dirt Cheap]( [Article]( [Corebridge Financial: Bad Products... 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