EPR Properties (EPR) 10-Q 30 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2019	Oct. 29, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-13561
Entity Registrant Name	EPR PROPERTIES
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	43-1790877
Entity Address, Address Line One	909 Walnut Street,
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Kansas City,
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	64106
City Area Code	(816)
Local Phone Number	472-1700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		78,458,360
Entity Central Index Key	0001045450
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common shares, par value $0.01 per share
Trading Symbol	EPR
Entity Listing, Description	NYSE
Series C Preferred Shares [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.75% Series C cumulative convertible preferred shares, par value $0.01 per share
Trading Symbol	EPR PrC
Entity Listing, Description	NYSE
Series E Preferred Shares [Member]
Entity Information [Line Items]
Title of 12(b) Security	9.00% Series E cumulative convertible preferred shares, par value $0.01 per share
Trading Symbol	EPR PrE
Entity Listing, Description	NYSE
Series G Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.75% Series G cumulative redeemable preferred shares, par value $0.01 per share
Trading Symbol	EPR PrG
Entity Listing, Description	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Real estate investments, net of accumulated depreciation of $989,480 and $883,174 at September 30, 2019 and December 31, 2018, respectively	$ 5,569,310	$ 5,024,057
Land held for development	28,080	34,177
Property under development	31,825	287,546
Operating Lease, Right-of-Use Asset	219,459	0
Mortgage notes and related accrued interest receivable	413,695	517,467
Investment in direct financing leases, net	20,727	20,558
Investment in joint ventures	35,222	34,486
Cash and cash equivalents	115,839	5,872
Restricted cash	5,929	12,635
Accounts receivable, net	99,190	98,369
Other assets	94,014	96,223
Total assets	6,633,290	6,131,390
Liabilities:
Accounts payable and accrued liabilities	121,351	168,463
Operating Lease, Liability	244,358	0
Dividends Payable, Current	29,340	26,765
Preferred dividends payable	6,034	6,034
Unearned rents and interest	89,797	79,051
Debt	3,101,611	2,986,054
Total liabilities	3,592,491	3,266,367
Equity:
Common Shares, $.01 par value; 100,000,000 shares authorized; and 81,365,094 and 77,226,443 shares issued at September 30, 2019 and December 31, 2018, respectively	813	772
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Additional paid-in-capital	3,814,465	3,504,494
Treasury shares at cost: 3,125,569 and 2,878,587 common shares at September 30, 2019 and December 31, 2018, respectively	(147,435)	(130,728)
Accumulated other comprehensive income	4,659	12,085
Distributions in excess of net income	631,851	521,748
Total equity	3,040,799	2,865,023
Total liabilities and equity	6,633,290	6,131,390
Series C Preferred Shares [Member]
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Preferred shares	54	54
Series E Preferred Shares [Member]
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Preferred shares	34	34
Series G Preferred Stock [Member]
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Preferred shares	$ 60	$ 60

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Rental properties, accumulated depreciation	$ 989,480,000	$ 883,174,000
Common Shares, par value	$ 0.01	$ 0.01
Common Shares, shares authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	81,365,094	77,226,443
Preferred Shares, par value	$ 0.01	$ 0.01
Preferred Shares, shares authorized	25,000,000	25,000,000
Treasury Shares, common shares	3,125,569	2,878,587
Series C Preferred Shares [Member]
Preferred Shares, shares issued	5,394,050	5,394,050
Preferred Shares, liquidation preference	$ 134,851,250	$ 134,851,250
Series E Preferred Shares [Member]
Preferred Shares, shares issued	3,447,381	3,447,381
Preferred Shares, liquidation preference	$ 86,184,525	$ 86,184,525
Series G Preferred Stock [Member]
Preferred Shares, shares issued	6,000,000	6,000,000
Preferred Shares, liquidation preference	$ 150,000,000	$ 150,000,000

Consolidated Statements Of Inco

Consolidated Statements Of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Rental revenue	$ 161,262	$ 140,905	$ 469,315	$ 410,848
Other income	11,464	365	17,534	1,641
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	12,136	35,139	38,253	121,755
Total revenue	184,862	176,409	525,102	534,244
Property operating expense	14,663	6,968	45,227	21,866
Other expense	11,403	118	19,494	118
General and Administrative Expense	11,600	11,424	35,540	36,724
Severance Costs	1,521	0	1,941	0
Gain (Loss) Related to Litigation Settlement	0	0	0	2,090
Costs associated with loan refinancing or payoff	38,407	0	38,407	31,958
Interest expense, net	36,640	33,576	106,744	101,992
Transaction costs	5,959	1,101	18,005	2,115
Asset Impairment Charges	0	0	0	16,548
Depreciation and amortization	45,134	38,623	127,232	113,889
Income before equity in income (loss) from joint ventures and other items	19,535	84,599	132,512	206,944
Equity in income from joint ventures	(435)	20	524	(17)
Gain on sale of real estate	14,303	2,215	30,405	2,688
gain on sale of investment in direct financing lease	0	5,514	0	5,514
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	33,403	92,348	163,441	215,129
Income tax benefit (expense)	600	(515)	2,505	(2,177)
Net income	34,003	91,833	165,946	212,952
Preferred dividend requirements	(6,034)	(6,036)	(18,102)	(18,108)
Net income available to common shareholders of EPR Properties	27,969	85,797	147,844	194,844
Foreign currency translation adjustment	(2,267)	3,292	5,515	(6,176)
Change in net unrealized gain (loss) on derivatives	1,752	(1,543)	(12,941)	12,939
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 33,488	$ 93,582	$ 158,520	$ 219,715
Basic earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.36	$ 1.15	$ 1.94	$ 2.62
Diluted earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.36	$ 1.15	$ 1.94	$ 2.62
Shares used for computation (in thousands):
Basic (in shares)	77,632	74,345	76,169	74,274
Diluted (in shares)	77,664	74,404	76,207	74,316

Consolidated Statement Of Chang

Consolidated Statement Of Changes In Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Treasury shares [Member]	Accumulated other comprehensive income (loss) [Member]	Distributions in excess of net income [Member]	Series C Preferred Shares [Member]	Series C Preferred Shares [Member]Distributions in excess of net income [Member]	Series E Preferred Shares [Member]	Series E Preferred Shares [Member]Common Stock [Member]	Series E Preferred Shares [Member]Preferred Stock [Member]	Series E Preferred Shares [Member]Distributions in excess of net income [Member]	Series G Preferred Stock [Member]	Series G Preferred Stock [Member]Distributions in excess of net income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	$ 2,927,325	$ 769	$ 148	$ 3,478,986	$ (121,591)	$ 12,483	$ (443,470)
Balance (in shares) at Dec. 31, 2017		76,858,632	14,848,165
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		295,202
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	3,974	$ 3		3,971	0
Treasury Stock, Retired, Cost Method, Amount	(7,116)				(7,116)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	3,791			3,791
Foreign currency translation adjustment	(5,400)					(5,400)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	9,398					9,398
Net income	29,538						29,538
Issuances of common shares (in shares)		6,601
Issuances of common shares	382	$ 0		382
Stock Issued During Period, Shares, Conversion of Convertible Securities											800
Stock Redeemed or Called During Period, Shares												(1,734)
Stock Redeemed or Called During Period, Value	0											$ 0
Dividends to common and preferred shareholders	(80,263)						(80,263)	$ (1,940)	$ (1,940)	$ (1,939)			$ (1,939)	$ (2,156)	$ (2,156)
Balance (in shares) at Mar. 31, 2018		77,161,235	14,846,431
Balance (in shares) at Dec. 31, 2017		76,858,632	14,848,165
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(6,176)
Net income	212,952
Balance (in shares) at Sep. 30, 2018		77,202,295	14,846,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	2,875,594	$ 772	$ 148	3,487,130	(128,707)	16,481	(500,230)
Balance (in shares) at Mar. 31, 2018		77,161,235	14,846,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Other		23,571
Stock Issued During Period, Value, Other	0
Treasury Stock, Retired, Cost Method, Amount	(39)				(39)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	3,818			3,818
Foreign currency translation adjustment	(4,068)					(4,068)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	5,084					5,084
Net income	91,581						91,581
Issuances of common shares (in shares)		5,272
Issuances of common shares	311	$ 0		311
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		5,742
Stock Issued During Period, Value, Stock Options Exercised	0	$ 0		302	(302)
Dividends to common and preferred shareholders	(80,278)						(80,278)	(1,940)	(1,940)	(1,939)			(1,939)	(2,156)	(2,156)
Balance (in shares) at Jun. 30, 2018		77,195,820	14,846,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	2,885,968	$ 772	$ 148	3,491,561	(129,048)	17,497	(494,962)
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		0
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 0		617	(617)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	3,686			3,686
Foreign currency translation adjustment	3,292					3,292
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(1,543)					(1,543)
Net income	91,833						91,833
Issuances of common shares (in shares)		4,231
Issuances of common shares	288	$ 0		288
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		2,244
Stock Issued During Period, Value, Stock Options Exercised	(5)	$ 0		131	(136)
Dividends to common and preferred shareholders	(80,289)						(80,289)	(1,940)	(1,940)	(1,939)			(1,939)	(2,156)	(2,156)
Balance (in shares) at Sep. 30, 2018		77,202,295	14,846,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	2,897,195	$ 772	$ 148	3,496,283	(129,801)	19,246	(489,453)
Total equity	2,865,023	$ 772	$ 148	3,504,494	(130,728)	12,085	(521,748)
Balance (in shares) at Dec. 31, 2018		77,226,443	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Other		1,156
Stock Issued During Period, Value, Other	0
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		197,755
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	4,430	$ 2		4,831	(403)
Treasury Stock, Retired, Cost Method, Amount	(9,499)				(9,499)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	3,177			3,177
share based compensation included in severance expense	103			103
Foreign currency translation adjustment	3,810					3,810
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(7,498)					(7,498)
Net income	65,349						65,349
Issuances of common shares (in shares)		1,064,600
Issuances of common shares	78,993	$ 11		78,982
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		111,815
Stock Issued During Period, Value, Stock Options Exercised	(732)	$ 1		5,543	(6,276)
Dividends to common and preferred shareholders	(84,343)						(84,343)	(1,939)	(1,939)	(1,939)			(1,939)	(2,156)	(2,156)
Balance (in shares) at Mar. 31, 2019		78,601,769	14,841,431
Balance (in shares) at Dec. 31, 2018		77,226,443	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
share based compensation included in severance expense	4,900
Foreign currency translation adjustment	5,515
Net income	$ 165,946
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	118,786
Balance (in shares) at Sep. 30, 2019		81,365,094	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	$ 2,912,779	$ 786	$ 148	3,597,130	(146,906)	8,397	(546,776)
Balance (in shares) at Mar. 31, 2019		78,601,769	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Other		26,236
Stock Issued During Period, Value, Other	0
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		11,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 0		95	(95)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	3,283			3,283
Foreign currency translation adjustment	3,972					3,972
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(7,195)					(7,195)
Net income	66,594						66,594
Issuances of common shares (in shares)		2,033,530
Issuances of common shares	157,596	$ 21		157,575
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		5,198
Stock Issued During Period, Value, Stock Options Exercised	0	$ 0		142	(142)
Dividends to common and preferred shareholders	(86,097)						(86,097)	(1,939)	(1,939)	(1,939)			(1,939)	(2,156)	(2,156)
Balance (in shares) at Jun. 30, 2019		80,677,733	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	3,044,898	$ 807	$ 148	3,758,225	(147,143)	5,174	(572,313)
Treasury Stock, Retired, Cost Method, Amount	(192)				(192)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	3,372			3,372
share based compensation included in severance expense	418			418
Foreign currency translation adjustment	(2,267)					(2,267)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	1,752					1,752
Net income	34,003						34,003
Issuances of common shares (in shares)		685,588
Issuances of common shares	52,356	$ 6		52,350
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		1,773
Stock Issued During Period, Value, Stock Options Exercised	0	$ 0		100	(100)
Dividends to common and preferred shareholders	(87,507)						(87,507)	$ (1,939)	$ (1,939)	$ (1,939)			$ (1,939)	$ (2,156)	$ (2,156)
Balance (in shares) at Sep. 30, 2019		81,365,094	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	$ 3,040,799	$ 813	$ 148	$ 3,814,465	$ (147,435)	$ 4,659	$ (631,851)

Consolidated Statement Of Cha_2

Consolidated Statement Of Changes In Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Common Stock, Dividends, Per Share, Cash Paid	$ 1.125	$ 1.125	$ 1.125	$ 1.08	$ 1.08	$ 1.08
Series C Preferred Shares [Member]
Dividends	0.359375	0.359375	0.359375	0.359375	0.359375	0.359375
Series E Preferred Shares [Member]
Dividends	0.5625	0.5625	0.5625	0.5625	0.5625	0.5625
Series G Preferred Stock [Member]
Dividends	$ 0.359375	$ 0.359375	$ 0.359375	$ 0.359375	$ 0.359375	$ 0.359375

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Net income		$ 165,946	$ 212,952
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Asset Impairment Charges		0	16,548
Gain on sale of real estate		(30,405)	(2,688)
Deferred income tax (benefit) expense		(3,268)	755
gain on sale of investment in a direct financing lease		0	5,514
Costs associated with loan refinancing or payoff		38,407	31,958
Equity in (income) loss from joint ventures		524	(17)
Proceeds from Equity Method Investment, Distribution		112	567
Depreciation and amortization		127,232	113,889
Amortization of deferred financing costs		4,571	4,307
Amortization of above/below market leases and tenant allowances, net		(224)	(527)
Share-based compensation expense to management and trustees		9,832	11,295
Share-based payment arrangement, noncash expense included in severance		521	0
Increase (Decrease) in Operating Lease Assets and Liabilities, Net		1,033	0
Mortgage notes accrued interest receivable		(389)	(970)
Accounts receivable		12,935	(13,620)
Increase in direct financing lease receivable		(169)	(500)
Other assets		(3,189)	(2,717)
Accounts payable and accrued liabilities		5,689	11,244
Increase (Decrease) in Deferred Revenue		9,152	23,886
Net cash provided by operating activities		337,262	400,882
Investing activities:
Acquisition of and investments in real estate and other assets		443,561	107,396
Proceeds from sale of real estate		182,719	19,881
Investment in unconsolidated joint ventures		325	0
Payments for (Proceeds from) Hedge, Investing Activities		0	(30,796)
Investment in mortgage notes receivable		(98,071)	(27,719)
Proceeds from Sale and Collection of Mortgage Notes Receivable		207,125	272,004
Investment in promissory notes receivable		10,639	7,801
Proceeds from promissory note receivable paydown		3,637	7,500
Proceeds from Sale of Lease Receivables		0	43,447
Additions to properties under development		(125,635)	(222,840)
Net cash (used) provided by investing activities		(284,750)	7,872
Financing activities:
Proceeds from long-term debt facilities		962,000	870,000
Principal payments on long-term debt		(866,735)	(941,684)
Deferred financing fees paid		(9,343)	(8,643)
Costs associated with loan refinancing or payoff (cash portion)		(36,918)	(28,650)
Net proceeds from issuance of common shares		285,269	734
Payment, Tax Withholding, Share-based Payment Arrangement		(732)	(6)
Purchase of common shares for treasury		(9,691)	(7,155)
Dividends paid to shareholders		(273,187)	(256,074)
Net cash provided (used) by financing activities		50,663	(371,478)
Effect of exchange rate changes on cash		86	(78)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect		103,261	37,198
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		121,768	96,184
Cash and Cash Equivalents, at Carrying Value		115,839	74,153
Restricted Cash and Cash Equivalents		5,929	22,031
Supplemental schedule of non-cash activity:
Transfer of property under development to rental property		353,947	175,198
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses		17,590	18,252
Noncash or Part Noncash Acquisition, Value of Assets Acquired		0	155,185
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		229,620	0
Operating Lease, Cost		253,486	0
Straight-Line Rent Receivable	[1]	89,361
Other Real Estate, Additions		14,000	0
Noncash or Part Noncash Acquisition, Debt Assumed		18,585	0
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities		101,982	104,065
Cash paid during the period for income taxes		1,332	1,365
Interest cost capitalized		5,053	7,235
Change in accrued capital expenditures		$ (2,247)	$ (6,165)
[1]	At September 30, 2019 , includes $25.2 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Organization [Abstract]
Organization	Organization Description of Business EPR Properties (the Company) is a specialty real estate investment trust (REIT) organized on August 29, 1997 in Maryland. The Company develops, owns, leases and finances properties in select market segments primarily related to Entertainment, Recreation and Education. The Company’s properties are located in the United States and Canada.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies and Recently Issued Accounting Standards Basis of Presentation The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. In addition, operating results for the nine month period ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . Amounts as of December 31, 2018 have been derived from the audited consolidated financial statements as of that date and should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission (SEC) on February 28, 2019. The Company consolidates certain entities when it is deemed to be the primary beneficiary in a variable interest entity (VIE) in which it has a controlling financial interest in accordance with the consolidation guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The equity method of accounting is applied to entities in which the Company is not the primary beneficiary as defined in the FASB ASC Topic on Consolidation (Topic 810), or does not have effective control, but can exercise influence over the entity with respect to its operations and major decisions. Recently Adopted Accounting Pronouncements On January 1, 2019, Accounting Standards Update (ASU) No. 2016-02 Leases (Topic 842) became effective for the Company. The Company adopted the standard on the effective date and used the effective date as the date of initial application. Accordingly, comparative periods have not been recast, and disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The standard offered several practical expedients for transition and certain expedients specific to lessees or lessors. Both lessees and lessors are permitted to make an election to apply a package of practical expedients available for implementation under the standard. The Company elected to apply the package of practical expedients, which permitted the Company to not reassess its prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected the expedient to not evaluate existing or expired land easements and elected the practical expedient to not separate lease and non-lease components for all its leases where it is the lessor. In addition, the Company elected the short-term lease exception, which allows the Company to account for leases with a lease term of 12 months or less similar to existing operating leases. The Company did not elect the use-of-hindsight expedient. See Note 16 for information related to the Company's leases. Operating Segments The Company has four reportable operating segments: Entertainment, Recreation, Education and Other. See Note 15 for financial information related to these operating segments. Real Estate Investments Real estate investments are carried at initial recorded value less accumulated depreciation. Costs incurred for the acquisition and development of the properties are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Tenant improvements, including allowances, are depreciated over the shorter of the lease term or the estimated useful life and leasehold interests are depreciated over the useful life of the underlying ground lease. Management reviews a property for impairment whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable, which is based on an estimate of undiscounted future cash flows expected to result from its use and eventual disposition. If impairment exists due to the inability to recover the carrying value of the property, an impairment loss is recorded to the extent that the carrying value of the property exceeds its estimated fair value. The Company evaluates the held-for-sale classification of its real estate as of the end of each quarter. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value less costs to sell and are generally classified as held for sale once management has initiated an active program to market them for sale and it is probable the assets will be sold within one year. On occasion, the Company will receive unsolicited offers from third parties to buy individual Company properties. Under these circumstances, the Company will classify the properties as held for sale when a sales contract is executed with no contingencies and the prospective buyer has funds at risk to ensure performance. Real Estate Acquisitions Upon acquisition of real estate properties, the Company evaluates the acquisition to determine if it is a business combination or an asset acquisition. If the acquisition is determined to be an asset acquisition, the Company records the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis. In addition, costs incurred for asset acquisitions including transaction costs, are capitalized. If the acquisition is determined to be a business combination, the Company records the fair value of acquired tangible assets and identified intangible assets and liabilities as well as any noncontrolling interest. In addition, acquisition-related costs in connection with business combinations are expensed as incurred. Costs related to such transactions, as well as costs associated with terminated transactions and pre-opening costs, are included in the accompanying consolidated statements of income as transaction costs. Deferred Financing Costs Deferred financing costs are amortized over the terms of the related debt obligations or mortgage note receivable as applicable. Deferred financing costs of $38.4 million and $33.9 million as of September 30, 2019 and December 31, 2018 , respectively, are shown as a reduction of debt. The deferred financing costs of $3.9 million and $5.0 million as of September 30, 2019 and December 31, 2018 , respectively, related to the unsecured revolving credit facility are included in other assets. Rental Revenue The Company leases real estate to its tenants primarily under leases that are predominately classified as operating leases. The Company's leases generally provide for rent escalations throughout the lease terms. Rents that are fixed are recognized on a straight-line basis over the lease term. Base rent escalations that include a variable component are recognized upon the occurrence of the specified event as defined in the Company's lease agreements. Many of the Company's leasing arrangements include options to extend the lease, which are not included in the minimum lease terms unless it is reasonably certain to be exercised. Straight-line rental revenue is subject to an evaluation for collectibility, and the Company records a direct write-off against rental revenue if collectibility of these future rents is not probable. For the nine months ended September 30, 2019 and 2018 , the Company recognized $10.0 million and $7.0 million , respectively, of straight-line rental revenue, net of write-offs of $1.4 million for the nine months ended September 30, 2019 . There were no straight-line write-offs recognized during the nine months ended September 30, 2018 . Most of the Company’s lease contracts are triple-net leases, which require the tenants to make payments to third parties for lessor costs (such as property taxes and insurance) associated with the properties. In accordance with Topic 842, the Company does not include these payments made by the lessees to third parties in rental revenue or property operating expenses. In certain situations, the Company pays these lessor costs directly to third-parties and the tenants reimburse the Company. In accordance with Topic 842, these payments are presented on a gross basis in rental revenue and property operating expense. During the nine months ended September 30, 2019 , the Company recognized $5.8 million in tenant reimbursements related to the gross up of these reimbursed expenses which are included in rental revenue. Certain of the Company's leases, particularly at its entertainment retail centers, require the tenants to make payments to the Company for property related expenses such as common area maintenance. The Company has elected to combine these non-lease components with the lease components in rental revenue. As such, certain reclassifications have been made to the 2018 presentation to conform to the 2019 presentation to combine tenant reimbursements with rental revenue. For both the nine months ended September 30, 2019 and 2018 , the Company recognized $11.4 million of tenant reimbursements that related to the operations of its entertainment retail centers. In addition, most of the Company's tenants are subject to additional rents if gross revenues of the properties exceed certain thresholds defined in the lease agreements (percentage rents). Percentage rents are recognized at the time when specific triggering events occur as provided by the lease agreement. Rental revenue included percentage rents of $8.5 million and $5.7 million for the nine months ended September 30, 2019 and 2018 , respectively. The Company regularly evaluates the collectibility of its receivables on a lease by lease basis. The evaluation primarily consists of reviewing past due account balances and considering such factors as the credit quality of the Company's tenants, historical trends of the tenant and/or other debtor, current economic conditions and changes in customer payment terms. The Company suspends revenue recognition when the collectibility of lease receivables or future lease payments are no longer probable and records a direct write-off of the receivable to rental revenue. For the nine months ended September 30, 2019 , the Company recognized $0.3 million in reductions to rental income related to the write-off of tenant receivables. Certain reclassifications have been made to the 2018 presentation to conform to the 2019 presentation related to the Company's former presentation of the allowance for doubtful accounts. Property Sales Sales of real estate properties are recognized when a contract exists and the purchaser has obtained control of the property. Gains on sales of properties are recognized in full in a partial sale of nonfinancial assets, to the extent control is not retained. Any noncontrolling interest retained by the seller would, accordingly, be measured at fair value. The Company evaluates each sale or disposal transaction to determine if it meets the criteria to qualify as discontinued operations. If the sale or disposal transaction does not meet the criteria, the operations and related gain or loss on sale is included in income from continuing operations. Mortgage Notes and Other Notes Receivable Mortgage notes and other notes receivable, including related accrued interest receivable, consist of loans originated by the Company and the related accrued and unpaid interest income as of the balance sheet date. Mortgage notes and other notes receivable are initially recorded at the amount advanced to the borrower. Interest income is recognized using the effective interest method based on the stated interest rate over the estimated life of the note. The Company evaluates the collectibility of both interest and principal of each of its loans to determine whether it is impaired. A loan is considered to be impaired when, based on current information and events, the Company determines that it is probable that it will be unable to collect all amounts due according to the existing contractual terms. An insignificant delay or shortfall in amounts of payments does not necessarily result in the loan being identified as impaired. When a loan is considered to be impaired, the amount of loss, if any, is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the Company’s interest in the underlying collateral, less costs to sell, if the loan is collateral dependent. For impaired loans, interest income is recognized on a cash basis, unless the Company determines based on the loan to estimated fair value ratio the loan should be on the cost recovery method, and any cash payments received would then be reflected as a reduction of principal. Interest income recognition is recommenced if and when the impaired loan becomes contractually current and performance is demonstrated to be resumed. Mortgage and Other Financing Income Certain of the Company's borrowers are subject to additional interest based on certain thresholds defined in the mortgage agreements (participating interest). Participating interest income is recognized at the time when specific triggering events occur as provided by the mortgage agreement. Mortgage and other financing income included participating interest income of $0.6 million for the nine months ended September 30, 2019 . No participating interest income was recognized for the nine months ended September 30, 2018 . In addition, for the nine months ended September 30, 2019 and 2018 , mortgage and other financing income included $2.7 million and $67.3 million , respectively, in prepayment fees related to mortgage notes that were paid fully in advance of their maturity date. As described above, the Company adopted Topic 842 on January 1, 2019 and elected to not reassess its prior conclusions about lease classification. Accordingly, the Company's leases that were classified as investment in direct financing leases retained this classification. Direct financing lease income is included in mortgage and other financing income and is recognized on the effective interest method to produce a level yield on funds not yet recovered. Estimated unguaranteed residual values at the date of lease inception represent management's initial estimates of fair value of the leased assets at the expiration of the lease, not to exceed original cost. The Company evaluates on an annual basis (or more frequently, if necessary) the collectibility of its direct financing lease receivable and unguaranteed residual value to determine whether they are impaired. A direct financing lease receivable is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a direct financing lease receivable is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the direct financing lease receivable's effective interest rate or to the fair value of the underlying collateral, less costs to sell, if such receivable is collateralized. Concentrations of Risk American Multi-Cinema, Inc. (AMC) was the lessee of a substantial portion ( 30% ) of the megaplex theatre properties held by the Company at September 30, 2019 . For the nine months ended September 30, 2019 and 2018 , approximately $92.4 million or 17.6% and $86.3 million or 16.2% , respectively, of the Company's total revenues were derived from rental payments by AMC. Topgolf USA (Topgolf) was the lessee of a substantial portion ( 43% ) of the recreation properties held by the Company at September 30, 2019 . For the nine months ended September 30, 2019 and 2018 , approximately $57.6 million or 11.0% and $46.4 million or 8.7% , respectively, of the Company's total revenues were derived from rental payments by Topgolf. Regal Entertainment Group (Regal) was the lessee of a substantial portion ( 31% ) of the megaplex theatre properties held by the Company at September 30, 2019 . For the nine months ended September 30, 2019 and 2018 , approximately $53.8 million or 10.2% and $42.6 million or 8.0% , respectively, of the Company's total revenues were derived from rental payments by Regal. Share-Based Compensation Share-based compensation to employees of the Company is granted pursuant to the Company's Annual Incentive Program and Long-Term Incentive Plan and share-based compensation to non-employee Trustees of the Company is granted pursuant to the Company's Trustee compensation program. Share-based compensation expense consists of share option expense and amortization of nonvested share grants issued to employees, and amortization of share units issued to non-employee Trustees for payment of their annual retainers. Share-based compensation included in general and administrative expense in the accompanying consolidated statements of income totaled $9.8 million and $11.3 million for the nine months ended September 30, 2019 and 2018 , respectively. Share-based compensation included in severance expense in the accompanying consolidated statement of income totaled $0.5 million for the nine months ended September 30, 2019 . Share Options Share options are granted to employees pursuant to the Long-Term Incentive Plan. The fair value of share options granted is estimated at the date of grant using the Black-Scholes option pricing model. Share options granted to employees vest over a period of four years and share option expense for these options is recognized on a straight-line basis over the vesting period. Expense recognized related to share options and included in general and administrative expense in the accompanying consolidated statements of income was $7 thousand and $213 thousand for the nine months ended September 30, 2019 and 2018 , respectively. Nonvested Shares Issued to Employees The Company grants nonvested shares to employees pursuant to both the Annual Incentive Program and the Long-Term Incentive Plan. The Company amortizes the expense related to the nonvested shares awarded to employees under the Long-Term Incentive Plan and the premium awarded under the nonvested share alternative of the Annual Incentive Program on a straight-line basis over the future vesting period (three or four years ). Expense recognized related to nonvested shares and included in general and administrative expense in the accompanying consolidated statements of income was $8.5 million and $10.2 million for the nine months ended September 30, 2019 and 2018 , respectively. Expense recognized related to nonvested shares and included in severance expense in the accompanying consolidated statement of income was $0.5 million for the nine months ended September 30, 2019 . Restricted Share Units Issued to Non-Employee Trustees The Company issues restricted share units to non-employee Trustees for payment of their annual retainers under the Company's Trustee compensation program. The fair value of the share units granted was based on the share price at the date of grant. The share units vest upon the earlier of the day preceding the next annual meeting of shareholders or a change of control. The settlement date for the shares is selected by the non-employee Trustee, and ranges from one year from the grant date to upon termination of service. This expense is amortized by the Company on a straight-line basis over the year of service by the non-employee Trustees. Total expense recognized related to shares issued to non-employee Trustees was $1.4 million and $931 thousand for the nine months ended September 30, 2019 and 2018 , respectively. Derivative Instruments The Company uses derivative instruments to reduce exposure to fluctuations in foreign currency exchange rates and variable interest rates. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as foreign currency risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. For its net investment hedges that hedge the foreign currency exposure of its Canadian investments, the Company has elected to assess hedge effectiveness using a method based on changes in spot exchange rates and record the changes in the fair value amounts excluded from the assessment of effectiveness into earnings on a systematic and rational basis. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. If hedge accounting is not applied, realized and unrealized gains or losses are reported in earnings. The Company's policy is to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Impact of Recently Issued Accounting Standards In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments , which amends ASC Topic 326, Financial Instruments - Credit Losses . The ASU changes the methodology for measuring credit losses on financial instruments and timing of when such losses are recorded. The amendments in ASU No. 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectibility of financial assets and eliminates the incurred losses methodology under current U.S. GAAP. In addition, in November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses , which also amends ASC Topic 326, Financial Instruments - Credit Losses. The ASU states that operating lease receivables are not in the scope of Subtopic 326-20. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. The ASU changes how a company considers expected recoveries and contractual extensions or renewal options when estimating expected credit losses.

Rental Properties

Rental Properties	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Rental Properties	The following table summarizes the carrying amounts of real estate investments as of September 30, 2019 and December 31, 2018 (in thousands): September 30, 2019 December 31, 2018 Buildings and improvements $ 5,074,504 $ 4,593,159 Furniture, fixtures & equipment 126,659 97,463 Land 1,331,586 1,190,568 Leasehold interests 26,041 26,041 6,558,790 5,907,231 Accumulated depreciation (989,480 ) (883,174 ) Total $ 5,569,310 $ 5,024,057 Depreciation expense on real estate investments was $123.0 million and $110.4 million for the nine months ended September 30, 2019 and 2018 , respectively.

Investments and Dispositions

Investments and Dispositions	9 Months Ended
	Sep. 30, 2019
Investments [Abstract]
Investments	Investments and Dispositions The Company's investment spending during the nine months ended September 30, 2019 totaled $684.7 million and included investments in each of its operating segments. Entertainment investment spending during the nine months ended September 30, 2019 totaled $440.4 million , including spending on the acquisition of 24 megaplex theatres totaling $377.8 million , and build-to-suit development and redevelopment of megaplex theatres, entertainment retail centers and other entertainment properties. Recreation investment spending during the nine months ended September 30, 2019 totaled $190.6 million , including spending on the acquisition of two attractions totaling $24.0 million , two mortgage notes secured by two recreation properties totaling $68.7 million and build-to-suit development of golf entertainment complexes and attractions. Education investment spending during the nine months ended September 30, 2019 totaled $53.4 million , including spending on the acquisition of two early education centers for $5.9 million , and build-to-suit development and redevelopment of public charter schools, early education centers and private schools. Other investment spending during the nine months ended September 30, 2019 totaled $0.3 million and was related to the Resorts World Catskills project in Sullivan County, New York. During the nine months ended September 30, 2019 , the Company completed the construction of the Kartrite Resort and Indoor Waterpark in Sullivan County, New York. The indoor waterpark resort is being operated under a traditional REIT lodging structure and facilitated by a management agreement with an eligible independent contractor. The related operating revenue and expense are included in other income and other expense in the accompanying consolidated statements of income for the nine months ended September 30, 2019 . Additionally, during the year ended December 31, 2018, the Company completed the construction of the Resorts World Catskills common infrastructure. In June 2016, the Sullivan County Infrastructure Local Development Corporation issued $110.0 million of Series 2016 Revenue Bonds which funded a substantial portion of such construction costs. For the years ended December 31, 2016, 2017 and 2018, the Company received total reimbursements of $74.2 million of construction costs. During the nine months ended September 30, 2019 , the Company received an additional reimbursement of $11.5 million . Dispositions During the nine months ended September 30, 2019 , pursuant to tenant purchase options, the Company completed the sale of nine public charter schools for net proceeds totaling $129.3 million and recognized a combined gain on sale of $28.3 million . During the nine months ended September 30, 2019 , the Company also completed the sale of one recreation property, seven additional education properties and two land parcels for net proceeds totaling $53.3 million and recognized a combined gain on sale of $2.1 million . On July 1, 2019, the Company received $189.8 million in proceeds representing payment in full on its mortgage notes receivable associated with Schlitterbahn waterparks. Additionally, during the nine months ended September 30, 2019, the Company received $17.8 million in proceeds representing payment in full on a mortgage note receivable that was secured by one public charter school property. In connection with this prepayment, the Company recognized a prepayment fee of $1.8 million

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2019
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts Receivable, Net	Mortgage Notes and Other Notes Receivable Mortgage notes and other notes receivable, including related accrued interest receivable, consist of loans originated by the Company and the related accrued and unpaid interest income as of the balance sheet date. Mortgage notes and other notes receivable are initially recorded at the amount advanced to the borrower. Interest income is recognized using the effective interest method based on the stated interest rate over the estimated life of the note. The Company evaluates the collectibility of both interest and principal of each of its loans to determine whether it is impaired. A loan is considered to be impaired when, based on current information and events, the Company determines that it is probable that it will be unable to collect all amounts due according to the existing contractual terms. An insignificant delay or shortfall in amounts of payments does not necessarily result in the loan being identified as impaired. When a loan is considered to be impaired, the amount of loss, if any, is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the Company’s interest in the underlying collateral, less costs to sell, if the loan is collateral dependent. For impaired loans, interest income is recognized on a cash basis, unless the Company determines based on the loan to estimated fair value ratio the loan should be on the cost recovery method, and any cash payments received would then be reflected as a reduction The following table summarizes the carrying amounts of accounts receivable as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, Receivable from tenants $ 4,523 $ 12,158 Receivable from non-tenants (1) 5,306 1,379 Receivable from Sullivan County Infrastructure Revenue Bonds — 11,500 Straight-line rent receivable (2) 89,361 73,332 Total $ 99,190 $ 98,369 (1) At September 30, 2019 , includes $3.4 million in receivables for proceeds from the Company's Dividend Reinvestment and Direct Share Purchase Plan (DSPP) on common shares processed on September 30, 2019 and received on October 1, 2019. See Note 7 for information related to the Company's DSPP. (2) At September 30, 2019 , includes $25.2 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.

Investments In Direct Financing

Investments In Direct Financing Lease	9 Months Ended
	Sep. 30, 2019
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Investments in a Direct Financing Lease	Investment in Direct Financing Leases The Company’s investment in direct financing leases relates to the Company’s leases of two public charter school properties as of September 30, 2019 and December 31, 2018 , with affiliates of Imagine Schools, Inc. (Imagine). As described in Note 2, the Company adopted Topic 842 on January 1, 2019 and elected to not reassess its prior conclusions about lease classification, therefore these lease arrangements continue to be classified as direct financing leases. Investment in direct financing leases, net represents estimated unguaranteed residual values of leased assets and net unpaid rentals, less related deferred income. The following table summarizes the carrying amounts of investment in direct financing leases, net as of September 30, 2019 and December 31, 2018 (in thousands): September 30, 2019 December 31, 2018 Total minimum lease payments receivable $ 34,659 $ 36,352 Estimated unguaranteed residual value of leased assets 16,509 16,509 Less deferred income (1) (30,441 ) (32,303 ) Investment in direct financing leases, net $ 20,727 $ 20,558 (1) Deferred income is net of $0.3 million of initial direct costs at September 30, 2019 and December 31, 2018 . During the year ended December 31, 2018 , the Company completed the sale of four public charter school properties leased to Imagine, located in Arizona, Ohio and Washington D.C. for net proceeds of $43.4 million . Accordingly, the Company reduced its investment in direct financing leases, net, by $37.9 million , which included $31.6 million in original acquisition costs. A gain of $5.5 million was recognized during the year ended December 31, 2018 . The Company’s direct financing leases have expiration dates ranging from approximately 12 to 13 years. Future minimum rentals receivable on these direct financing leases at September 30, 2019 are as follows (in thousands): Amount Year: 2019 $ 572 2020 2,333 2021 2,403 2022 2,475 2023 2,550 Thereafter 24,326 Total $ 34,659

Unconsolidated Real Estate Join

Unconsolidated Real Estate Joint Ventures (Notes)	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Unconsolidated Real Estate Joint Ventures As of September 30, 2019 , the Company had a 65% investment interest in two unconsolidated real estate joint ventures related to two recreation anchored lodging properties located in St. Petersburg Beach, Florida. The Company's partner, Gencom and its affiliates, own the remaining 35% interest in the joint ventures. There are two separate joint ventures, one that holds the investment in the real estate of the recreation anchored lodging properties and the other that holds lodging operations, which are facilitated by a management agreement with an eligible independent contractor. The Company's investment in the operating entity is held in a taxable REIT subsidiary (TRS). The Company accounts for its investment in these joint ventures under the equity method of accounting. As of September 30, 2019 and December 31, 2018, the Company had invested $30.5 million and $29.5 million , respectively, in these joint ventures. As of September 30, 2019 , the Company's investments in these joint ventures were considered to be variable interests and the underlying entities are VIEs. The Company is not the primary beneficiary of the VIEs as the Company does not individually have the power to direct the activities that are most important to the joint ventures and accordingly these investments are not consolidated. See Note 9 for further discussion on these VIEs. The joint venture that holds the real property partially financed the purchase of the lodging properties with a short-term secured mortgage loan of $60.0 million with a maturity date of June 21, 2019. On March 28, 2019, the joint venture prepaid in full this mortgage loan and entered into a new secured mortgage loan due April 1, 2022 with an initial balance of $61.2 million and a maximum availability of $85.0 million . The note can be extended for two additional one year periods upon the satisfaction of certain conditions. As of September 30, 2019 , the joint venture had $61.2 million outstanding and total availability of $23.8 million to fund upcoming property renovations. Additionally, the Company has guaranteed the completion of the renovations in the amount of approximately $24.3 million . The mortgage loan bears interest at an annual rate equal to the greater of 6.00% or LIBOR plus 3.75% . Interest is payable monthly beginning on May 1, 2019 until the stated maturity date of April 1, 2022, which can be extended to April 1, 2023. Additionally, on March 28, 2019, the joint venture entered into an interest rate cap agreement to limit the variable portion of the interest rate (LIBOR) on this note to 3.0% from March 28, 2019 to April 1, 2023. The Company recognized income of $0.7 million and received no distributions during the nine months ended September 30, 2019 related to the equity investments in these joint ventures. No income or loss was recognized during the nine months ended September 30, 2018 related to the equity investment in these joint ventures. In addition, as of September 30, 2019 and December 31, 2018, the Company had invested $4.7 million and $4.9 million , respectively, in unconsolidated joint ventures for three theatre projects located in China. The Company recognized a loss of $140 thousand and $17 thousand and received distributions of $112 thousand and $567 thousand from its investment in these joint ventures for the nine months ended September 30, 2019 and 2018 , respectively.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2019
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities The Company’s variable interest in VIEs currently are in the form of equity ownership and loans provided by the Company to a VIE or other partner. The Company examines specific criteria and uses its judgment when determining if the Company is the primary beneficiary of a VIE. The primary beneficiary generally is defined as the party with the controlling financial interest. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance and its obligation to absorb losses from or right to receive benefits of the VIE that could potentially be significant to the VIE. Consolidated VIEs As of September 30, 2019 , the Company does not have any investments in consolidated VIEs. Unconsolidated VIE At September 30, 2019 , the Company had a $4.2 million investment in a mortgage note receivable which was considered a variable interest in an unconsolidated VIE. This mortgage note receivable was secured by one public charter school. The Company's maximum exposure to loss associated with this VIE is limited to the Company's outstanding mortgage note and related accrued interest receivable of $4.2 million . In addition, at September 30, 2019 , the Company had $30.5 million of recorded investments in unconsolidated VIEs through joint ventures that own two recreation anchored lodging properties. The Company accounts for these investments in joint ventures under the equity method of accounting. The Company's maximum exposure to loss at September 30, 2019 , is its investment in the joint ventures of $30.5 million as well as the Company's guarantee of the estimated costs to complete renovations of approximately $24.3 million . See Note 8 for further discussion related to the Company's unconsolidated real estate joint ventures.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2019
Summary of Derivative Instruments [Abstract]
Derivative Instruments	Derivative Instruments All derivatives are recognized at fair value in the consolidated balance sheets within the line items "Other assets" and "Accounts payable and accrued liabilities" as applicable. The Company has elected not to offset its derivative position for purposes of balance sheet presentation and disclosure. The Company had derivative assets of $3.6 million and $10.6 million at September 30, 2019 and December 31, 2018 , respectively, and derivative liabilities of $6.0 million at September 30, 2019 and no derivative liabilities at December 31, 2018 . The Company has not posted or received collateral with its derivative counterparties as of September 30, 2019 or December 31, 2018 . See Note 11 for disclosures relating to the fair value of the derivative instruments. Risk Management Objective of Using Derivatives The Company is exposed to certain risk arising from both its business operations and economic conditions including the effect of changes in foreign currency exchange rates on foreign currency transactions and interest rates on its LIBOR based borrowings. The Company manages this risk by following established risk management policies and procedures including the use of derivatives. The Company’s objective in using derivatives is to add stability to reported earnings and to manage its exposure to foreign exchange and interest rate movements or other identified risks. To accomplish this objective, the Company primarily uses interest rate swaps, cross-currency swaps and foreign currency forwards. Cash Flow Hedges of Interest Rate Risk The Company uses interest rate swaps as its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt or payment of variable-rate amounts from a counterparty which results in the Company recording net interest expense that is fixed over the life of the agreements without exchange of the underlying notional amount. As of September 30, 2019 , the Company had four interest rate swap agreements designated as cash flow hedges of interest rate risk related to its variable rate unsecured term loan facility totaling $400.0 million . During the quarter ended September 30, 2019 , the Company also entered into an interest rate swap agreement designated as a cash flow hedge of interest rate risk effective October 1, 2019 related to its variable rate secured bonds totaling $25.0 million . Interest rate swap agreements outstanding as of September 30, 2019 are summarized below: Fixed rate Notional Amount (in millions) Index Maturity 3.1450% $ 116.7 USD LIBOR February 7, 2022 3.1575% 116.7 USD LIBOR February 7, 2022 3.1580% 116.6 USD LIBOR February 7, 2022 3.3450% 50.0 USD LIBOR February 7, 2022 Total $ 400.0 1.3925% 25.0 USD LIBOR September 30, 2024 Total $ 25.0 The change in the fair value of interest rate derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (AOCI) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings within the same income statement line item as the earnings effect of the hedged transaction. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. As of September 30, 2019 , the Company estimates t hat during the twelve months ending September 30, 2020, $1.7 million will be reclassified from AOCI to interest expense. Cash Flow Hedges of Foreign Exchange Risk The Company is exposed to foreign currency exchange risk against its functional currency, USD, on CAD denominated cash flow from its four Canadian properties. The Company uses cross-currency swaps to mitigate its exposure to fluctuations in the USD-CAD exchange rate on cash inflows associated with these properties which should hedge a significant portion of the Company's expected CAD denominated cash flows. As of September 30, 2019 , the Company had a USD-CAD cross-currency swap with a fixed original notional value of $100.0 million CAD and $79.5 million USD. The net effect of this swap is to lock in an exchange rate of $1.26 CAD per USD on approximately $13.5 million of annual CAD denominated cash flows through June 2020. The change in the fair value of foreign currency derivatives designated and that qualify as cash flow hedges of foreign exchange risk is recorded in AOCI and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings within the same income statement line item as the earnings effect of the hedged transaction. As of September 30, 2019 , the Company estimates t hat during the twelve months ending September 30, 2020, $0.4 million of gains will be reclassified from AOCI to other income. Net Investment Hedges The Company is exposed to fluctuations in the USD-CAD exchange rate on its net investments in Canada. As such, the Company uses either currency forward agreements or cross-currency swaps to manage its exposure to changes in foreign exchange rates on certain of its foreign net investments. As of September 30, 2019 , the Company had the following cross-currency swaps designated as net investment hedges: Fixed rate Notional Amount (in millions, CAD) Maturity $1.32 CAD per USD $ 100.0 July 1, 2023 $1.32 CAD per USD 100.0 July 1, 2023 Total $ 200.0 The cross-currency swaps also have a monthly settlement feature locked in at an exchange rate of $1.32 CAD per USD on $4.5 million of CAD annual cash flows, the net effect of which is an excluded component from the effectiveness testing of this hedge. For qualifying foreign currency derivatives designated as net investment hedges, the change in the fair value of the derivatives are reported in AOCI as part of the cumulative translation adjustment. Amounts are reclassified out of AOCI into earnings when the hedged net investment is either sold or substantially liquidated. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis, as documented at hedge inception in accordance with the Company's accounting policy election. The earnings recognition of excluded components are presented in other income. Below is a summary of the effect of derivative instruments on the consolidated statements of changes in equity and income for the three and nine months ended September 30, 2019 and 2018 . Effect of Derivative Instruments on the Consolidated Statements of Changes in Equity and Income for the Three and Nine Months Ended September 30, 2019 and 2018 (Dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Description 2019 2018 2019 2018 Cash Flow Hedges Interest Rate Swaps Amount of (Loss) Gain Recognized in AOCI on Derivative $ (1,106 ) $ 1,434 $ (8,958 ) $ 8,328 Amount of Income Reclassified from AOCI into Earnings (1) 174 433 1,352 695 Cross-Currency Swaps Amount of Gain (Loss) Recognized in AOCI on Derivative 134 (294 ) (342 ) 767 Amount of Income Reclassified from AOCI into Earnings (2) 135 91 426 1,266 Net Investment Hedges Cross-Currency Swaps Amount of Gain (Loss) Recognized in AOCI on Derivative 3,033 (2,164 ) (1,863 ) (2,755 ) Amount of Income Recognized in Earnings (2)(3) 139 124 423 124 Currency Forward Agreements Amount of Gain Recognized in AOCI on Derivative — 5 — 8,560 Amount of Expense Reclassified from AOCI into Earnings (2) — — — — Total Amount of Gain (Loss) Recognized in AOCI on Derivatives $ 2,061 $ (1,019 ) $ (11,163 ) $ 14,900 Amount of Income Reclassified from AOCI into Earnings 309 524 1,778 1,961 Amount of Income Recognized in Earnings 139 124 423 124 Interest expense, net in accompanying consolidated statements of income $ 36,640 $ 33,576 $ 106,744 $ 101,992 Other income in accompanying consolidated statements of income $ 11,464 $ 365 $ 17,534 $ 1,641 (1) Included in "Interest expense, net" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 . (2) Included in "Other income" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 . (3) Amounts represent derivative gains excluded from the effectiveness testing. Credit-risk-related Contingent Features The Company has agreements with each of its interest rate derivative counterparties that contain a provision where if the Company defaults on any of its obligations for borrowed money or credit in an amount exceeding $50.0 million and such default is not waived or cured within a specified period of time, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its interest rate derivative obligations. As of September 30, 2019 , the fair value of the Company's derivatives in a liability position related to these agreements was $6.0 million . If the Company breached any of the contractual provisions of these derivative contracts, it would be required to settle its obligations under the agreements at their termination value, after considering the right of offset of $4.1 million . As of September 30, 2019

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures The Company has certain financial instruments that are required to be measured under the FASB’s Fair Value Measurement guidance. The Company currently does not have any non-financial assets and non-financial liabilities that are required to be measured at fair value on a recurring basis. As a basis for considering market participant assumptions in fair value measurements, the FASB’s Fair Value Measurement guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs use quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Derivative Financial Instruments The Company uses interest rate swaps, foreign currency forwards and cross-currency swaps to manage its interest rate and foreign currency risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. In conjunction with the FASB's Fair Value Measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Although the Company determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives also use Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. As of September 30, 2019 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives and therefore, classified its derivatives as Level 2 within the fair value reporting hierarchy. The table below presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 aggregated by the level in the fair value hierarchy within which those measurements are classified and by derivative type. Assets and Liabilities Measured at Fair Value on a Recurring Basis at September 30, 2019 and December 31, 2018 (Dollars in thousands) Description Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Balance at end of period September 30, 2019 Cross-Currency Swaps* $ — $ 3,646 $ — $ 3,646 Interest Rate Swap Agreements** $ — $ (5,966 ) $ — $ (5,966 ) December 31, 2018 Cross-Currency Swaps* $ — $ 6,278 $ — $ 6,278 Interest Rate Swap Agreements* $ — $ 4,344 $ — $ 4,344 *Included in "Other assets" in the accompanying consolidated balance sheets. ** Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets. Fair Value of Financial Instruments The following methods and assumptions were used by the Company to estimate the fair value of each class of financial instruments at September 30, 2019 and December 31, 2018 : Mortgage notes receivable and related accrued interest receivable: The fair value of the Company’s mortgage notes and related accrued interest receivable is estimated by discounting the future cash flows of each instrument using current market rates. At September 30, 2019 , the Company had a carrying value of $413.7 million in fixed rate mortgage notes receivable outstanding, including related accrued interest, with a weighted average interest rate of approximately 8.92% . The fixed rate mortgage notes bear interest at rates of 7.00% to 11.61% . Discounting the future cash flows for fixed rate mortgage notes receivable using rates of 7.00% to 9.50% , management estimates the fair value of the fixed rate mortgage notes receivable to be approximately $453.8 million with an estimated weighted average market rate of 7.92% at September 30, 2019 . At December 31, 2018 , the Company had a carrying value of $517.5 million in fixed rate mortgage notes receivable outstanding, including related accrued interest, with a weighted average interest rate of approximately 8.67% . The fixed rate mortgage notes bear interest at rates of 7.00% to 11.43% . Discounting the future cash flows for fixed rate mortgage notes receivable using rates of 7.50% to 10.00% , management estimates the fair value of the fixed rate mortgage notes receivable to be $544.6 million with an estimated weighted average market rate of 8.68% at December 31, 2018 . Investment in direct financing leases, net: At September 30, 2019 and December 31, 2018 , the Company had an investment in direct financing leases with a carrying value of $20.7 million and $20.6 million , respectively, and a weighted average effective interest rate of 12.04% for both periods. At September 30, 2019 and December 31, 2018 , the investment in direct financing leases bears interest at effective rates of 11.93% to 12.38% . The carrying value of the investment in direct financing leases approximated the fair value at September 30, 2019 and December 31, 2018 . Derivative instruments: Derivative instruments are carried at their fair value. Debt instruments: The fair value of the Company's debt is estimated by discounting the future cash flows of each instrument using current market rates. At September 30, 2019 , the Company had a carrying value of $425.0 million in variable rate debt outstanding with a weighted average interest rate of approximately 3.13% . The carrying value of the variable rate debt outstanding approximated the fair value at September 30, 2019 . At December 31, 2018 , the Company had a carrying value of $455.0 million in variable rate debt outstanding with a weighted average interest rate of approximately 2.84% . The carrying value of the variable rate debt outstanding approximated the fair value at December 31, 2018 . At September 30, 2019 and December 31, 2018 , $425.0 million and $350.0 million , respectively, of the Company's variable rate debt, discussed above, had been effectively converted to a fixed rate by interest rate swap agreements. See Note 10 for additional information related to the Company's interest rate swap agreements. At September 30, 2019 , the Company had a carrying value of $2.72 billion in fixed rate long-term debt outstanding with a weighted average interest rate of approximately 4.54% . Discounting the future cash flows for fixed rate debt using September 30, 2019 market rates of 3.11% to 4.56% , management estimates the fair value of the fixed rate debt to be approximately $2.85 billion with an estimated weighted average market rate of 3.66% at September 30, 2019 . At December 31, 2018 , the Company had a carrying value of $2.57 billion in fixed rate long-term debt outstanding with an average weighted interest rate of approximately 4.86% . Discounting the future cash flows for fixed rate debt using December 31, 2018 market rates of 3.48% to 4.99% , management estimates the fair value of the fixed rate debt to be approximately $2.57 billion with an estimated weighted average market rate of 4.69% at December 31, 2018 .

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the three and nine months ended September 30, 2019 and 2018 (amounts in thousands except per share information): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Income (numerator) Shares (denominator) Per Share Amount Income Shares Per Share Basic EPS: Net income $ 34,003 $ 165,946 Less: preferred dividend requirements (6,034 ) (18,102 ) Net income available to common shareholders $ 27,969 77,632 $ 0.36 $ 147,844 76,169 $ 1.94 Diluted EPS: Net income available to common shareholders $ 27,969 77,632 $ 147,844 76,169 Effect of dilutive securities: Share options — 32 — 38 Net income available to common shareholders $ 27,969 77,664 $ 0.36 $ 147,844 76,207 $ 1.94 Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Income Shares Per Share Income Shares Per Share Basic EPS: Net income $ 91,833 $ 212,952 Less: preferred dividend requirements (6,036 ) (18,108 ) Net income available to common shareholders $ 85,797 74,345 $ 1.15 $ 194,844 74,274 $ 2.62 Diluted EPS: Net income available to common shareholders $ 85,797 74,345 $ 194,844 74,274 Effect of dilutive securities: Share options — 59 — 42 Net income available to common shareholders $ 85,797 74,404 $ 1.15 $ 194,844 74,316 $ 2.62 The additional 2.2 million and 2.1 million common shares that would result from the conversion of the Company’s 5.75% Series C cumulative convertible preferred shares for the three and nine months ended September 30, 2019 and 2018 , respectively, and the additional 1.6 million common shares that would result from the conversion of the Company’s 9.0% Series E cumulative convertible preferred shares for both the three and nine months ended September 30, 2019 and 2018 and the corresponding add-back of the preferred dividends declared on those shares are not included in the calculation of diluted earnings per share because the effect is anti-dilutive. The dilutive effect of potential common shares from the exercise of share options is included in diluted earnings per share for the three and nine months ended September 30, 2019 and 2018 . However, options to purchase 4 thousand common shares at per share prices ranging from $73.84 to $76.63 were outstanding for the three and nine months ended September 30, 2019 but were not included in the computation of diluted earnings per share because they were anti-dilutive. Options to purchase 4 thousand and 80 thousand common shares at per share prices ranging from $61.79 to $76.63 were outstanding for the three and nine months ended September 30, 2018

Equity Incentive Plans

Equity Incentive Plans	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Equity Incentive Plans	Equity Incentive Plan All grants of common shares and options to purchase common shares were issued under the Company's 2007 Equity Incentive Plan prior to May 12, 2016 and under the 2016 Equity Incentive Plan on and after May 12, 2016. Under the 2016 Equity Incentive Plan, an aggregate of 1,950,000 common shares, options to purchase common shares and restricted share units, subject to adjustment in the event of certain capital events, may be granted. At September 30, 2019 , there were 1,091,880 shares available for grant under the 2016 Equity Incentive Plan. Share Options Share options have exercise prices equal to the fair market value of a common share at the date of grant. The options may be granted for any reasonable term, not to exceed 10 years. The Company generally issues new common shares upon option exercise. A summary of the Company’s share option activity and related information is as follows: Number of options Option price per share Weighted avg. exercise price Outstanding at December 31, 2018 234,875 $ 19.02 — $ 76.63 $ 51.98 Exercised (118,786 ) 19.02 — 61.79 48.71 Granted 1,941 73.84 — 73.84 73.84 Outstanding at September 30, 2019 118,030 $ 44.62 — $ 76.63 $ 55.63 The weighted average fair value of options granted was $4.64 and $3.03 during the nine months ended September 30, 2019 and 2018 , respectively. The intrinsic value of share options exercised was $2.8 million and $0.1 million for the nine months ended September 30, 2019 and 2018 , respectively. The expense related to share options included in the determination of net income for the nine months ended September 30, 2019 and 2018 was $7 thousand and $0.2 million , respectively. The following assumptions were used in applying the Black-Scholes option pricing model at the grant dates for the nine months ended September 30, 2019 : risk-free interest rate of 2.4% , dividend yield of 6.7% , volatility factors in the expected market price of the Company’s common shares of 19.1% , 0.75% expected forfeiture rate and an expected life of approximately six years . The Company uses historical data to estimate the expected life of the option and the risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Additionally, expected volatility is computed based on the average historical volatility of the Company’s publicly traded shares. The following table summarizes outstanding and exercisable options at September 30, 2019 : Options outstanding Options exercisable Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $ 44.62 - 49.99 31,445 2.3 31,445 2.3 50.00 - 59.99 31,710 4.8 28,834 4.4 60.00 - 69.99 50,719 5.4 50,719 5.4 70.00 - 76.63 4,156 8.3 1,108 7.4 118,030 4.5 $ 55.63 $ 2,505 112,106 4.3 $ 55.08 $ 2,442 Nonvested Shares A summary of the Company’s nonvested share activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2018 655,056 $ 64.16 Granted 208,755 74.13 Vested (346,145 ) 64.66 Forfeited (8,328 ) 66.38 Outstanding at September 30, 2019 509,338 $ 67.88 1.11 The holders of nonvested shares have voting rights and receive dividends from the date of grant. The fair value of the nonvested shares that vested was $22.7 million (including $4.9 million related to the severance of the Company's former Senior Vice President and Chief Investment Officer as well as other employees) and $16.0 million for the nine months ended September 30, 2019 and 2018 , respectively. At September 30, 2019 , unamortized share-based compensation expense related to nonvested shares was $18.2 million . Restricted Share Units A summary of the Company’s restricted share unit activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2018 23,571 $ 61.25 Granted 27,392 77.19 Vested (24,727 ) 61.62 Outstanding at September 30, 2019 26,236 $ 77.54 0.67 The holders of restricted share units receive dividend equivalents from the date of grant. At September 30, 2019 , unamortized share-based compensation expense related to restricted share units was $1.4 million .

Other Commitments And Contingen

Other Commitments And Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Other Commitments And Contingencies	Other Commitments and Contingencies As of September 30, 2019 , the Company had the following future commitments to fund development projects: Number of projects Commitment (in millions) Entertainment 6 $ 31.2 Recreation 2 25.1 Education 1 3.9 Total 9 $ 60.2 Development costs are advanced by the Company in periodic draws. If the Company determines that construction is not being completed in accordance with the terms of the development agreement, it can discontinue funding construction draws. The Company has agreed to lease the properties to the operators at pre-determined rates upon completion of construction. The Company has certain commitments related to its mortgage notes and notes receivable investments that it may be required to fund in the future. The Company is generally obligated to fund these commitments at the request of the borrower or upon the occurrence of events outside of its direct control. As of September 30, 2019 , the Company had four mortgage notes and notes receivable with commitments totaling approximately $11.9 million . If commitments are funded in the future, interest will be charged at rates consistent with the existing investments. At December 31, 2018, the Company had $5.3 million in other assets and $16.1 million in other liabilities related to the Company's payment guarantees of two economic development revenue bonds. During the nine months ended September 30, 2019 , the Company prepaid in full the two economic development revenue bonds totaling $24.8 million and the other asset and liability related to the Company's obligation to stand ready to perform under the terms of the guarantees were extinguished. The Company took ownership of and recorded the leasehold interest and improvements for the theatre in Louisiana that secured one of the bonds at fair value which approximated $14.0 million at September 30, 2019 . No gain or loss was recognized on these transactions. At September 30, 2019 , the Company does not have any remaining guarantee assets or liabilities. In connection with construction of its development projects and related infrastructure, certain public agencies require posting of surety bonds to guarantee that the Company's obligations are satisfied. These bonds expire upon the completion of the improvements or infrastructure. As of September 30, 2019 , the Company had three surety bonds outstanding totaling $30.4 million . Early Childhood Education Tenant Since 2017, the Company and Children’s Learning Adventure USA, LLC (CLA) have been involved in lengthy negotiations and legal proceedings regarding a restructuring of CLA and the ultimate disposition of the properties owned by the Company and leased to CLA. As a result of those negotiations, the Company and CLA have undertaken a process that provides for the continuation of the lease to CLA and the transfer of the properties one at a time to Crème de la Crème (Crème) as it receives the necessary licenses and permits for each property. In February 2019, the Company entered into new leases with Crème on all of the 21 operating CLA properties owned by the Company. These leases are contingent upon the Company delivering possession of the properties to Crème and include different financial terms based on whether CLA delivers to Crème the assets associated with the in-place operations of the school. The leases with Crème have 20 year terms that commence upon Crème beginning operations of the schools. Additionally, both the Company and Crème have early termination rights based on school level economic performance. During the nine months ended September 30, 2019, CLA transferred 13 of the properties to Crème. Consideration provided by the Company for such transfers during the nine months ended September 30, 2019 included the release of CLA for past due rent obligations related to the transferred properties, previously fully reserved by the Company. Additional consideration was paid of approximately $9.2 million which includes approximately $2.6 million for equipment used in the operations of these schools recorded in notes receivable and due from Crème, and $6.6 million recognized in transaction costs. Subsequent to September 30, 2019, four additional properties were transferred to Crème, resulting in a transfer of 17 of the properties to Crème since commencement of the process. As of October 30, 2019, there are four properties remaining to be transferred from CLA to Crème. CLA continues to cooperate with Crème by providing access to facilities, staff and information. With this assistance, Crème has made substantial progress transferring the properties and with its license applications and preparations to begin operating the remaining four schools. This process is expected to be complete before the end of 2019. There can be no assurance that Crème will timely obtain necessary licenses and permits, and therefore there can be no assurance as to the outcome of the contemplated transaction or whether some or all of the remaining properties will be transferred to Crème with in-place operations. In addition, there can be no assurance that CLA will continue to cooperate with Crème and provide access to personnel and information needed to acquire the operations of the remaining properties. If the Company is unable to transfer the remaining four properties to Crème with in-place operations, the Company intends to take possession of the properties and transfer them without operations. If some or all of the four

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company groups investments into four reportable operating segments: Entertainment, Recreation, Education and Other. The financial information summarized below is presented by reportable operating segment (in thousands): Balance Sheet Data: As of September 30, 2019 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,829,477 $ 2,233,445 $ 1,243,761 $ 195,217 $ 131,390 $ 6,633,290 As of December 31, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,344,855 $ 2,187,808 $ 1,366,278 $ 207,724 $ 24,725 $ 6,131,390 Operating Data: Three Months Ended September 30, 2019 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 87,720 $ 42,784 $ 27,643 $ 3,115 $ — $ 161,262 Other income 1,202 9,988 — — 274 11,464 Mortgage and other financing income 382 6,238 5,516 — — 12,136 Total revenue 89,304 59,010 33,159 3,115 274 184,862 Property operating expense 9,497 2,843 1,107 997 219 14,663 Other expense 864 10,539 — — — 11,403 Total investment expenses 10,361 13,382 1,107 997 219 26,066 Net operating income - before unallocated items 78,943 45,628 32,052 2,118 55 158,796 Reconciliation to Consolidated Statements of Income: General and administrative expense (11,600 ) Severance expense (1,521 ) Costs associated with loan refinancing or payoff (38,407 ) Interest expense, net (36,640 ) Transaction costs (5,959 ) Depreciation and amortization (45,134 ) Equity in loss from joint ventures (435 ) Gain on sale of real estate 14,303 Income tax benefit 600 Net income 34,003 Preferred dividend requirements (6,034 ) Net income available to common shareholders of EPR Properties $ 27,969 Operating Data: Three Months Ended September 30, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 75,552 $ 36,215 $ 26,851 $ 2,287 $ — $ 140,905 Other income 143 — — — 222 365 Mortgage and other financing income 612 29,678 4,849 — — 35,139 Total revenue 76,307 65,893 31,700 2,287 222 176,409 Property operating expense 5,917 34 407 449 161 6,968 Other expense — 118 — — — 118 Total investment expenses 5,917 152 407 449 161 7,086 Net operating income - before unallocated items 70,390 65,741 31,293 1,838 61 169,323 Reconciliation to Consolidated Statements of Income: General and administrative expense (11,424 ) Interest expense, net (33,576 ) Transaction costs (1,101 ) Depreciation and amortization (38,623 ) Equity in income from joint ventures 20 Gain on sale of real estate 2,215 Gain on sale of investment in direct financing leases 5,514 Income tax expense (515 ) Net income 91,833 Preferred dividend requirements (6,036 ) Net income available to common shareholders of EPR Properties $ 85,797 Operating Data: Nine Months Ended September 30, 2019 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 251,951 $ 126,199 $ 82,409 $ 8,756 $ — $ 469,315 Other income 2,787 13,897 — — 850 17,534 Mortgage and other financing income 545 24,204 13,504 — — 38,253 Total revenue 255,283 164,300 95,913 8,756 850 525,102 Property operating expense 29,993 8,306 3,275 2,974 679 45,227 Other expense 1,893 17,601 — — — 19,494 Total investment expenses 31,886 25,907 3,275 2,974 679 64,721 Net operating income - before unallocated items 223,397 138,393 92,638 5,782 171 460,381 Reconciliation to Consolidated Statements of Income: General and administrative expense (35,540 ) Severance expense (1,941 ) Costs associated with loan refinancing or payoff (38,407 ) Interest expense, net (106,744 ) Transaction costs (18,005 ) Depreciation and amortization (127,232 ) Equity in income from joint ventures 524 Gain on sale of real estate 30,405 Income tax benefit 2,505 Net income 165,946 Preferred dividend requirements (18,102 ) Net income available to common shareholders of EPR Properties $ 147,844 Operating Data: Nine Months Ended September 30, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 225,040 $ 104,090 $ 74,885 $ 6,833 $ — $ 410,848 Other income 147 62 — — 1,432 1,641 Mortgage and other financing income 3,514 100,923 17,318 — — 121,755 Total revenue 228,701 205,075 92,203 6,833 1,432 534,244 Property operating expense 17,962 91 1,880 1,452 481 21,866 Other expense — 118 — — — 118 Total investment expenses 17,962 209 1,880 1,452 481 21,984 Net operating income - before unallocated items 210,739 204,866 90,323 5,381 951 512,260 Reconciliation to Consolidated Statements of Income: General and administrative expense (36,724 ) Litigation settlement expense (2,090 ) Costs associated with loan refinancing or payoff (31,958 ) Interest expense, net (101,992 ) Transaction costs (2,115 ) Impairment charges (16,548 ) Depreciation and amortization (113,889 ) Equity in loss from joint ventures (17 ) Gain on sale of real estate 2,688 Gain on sale of investment in direct financing leases 5,514 Income tax expense (2,177 ) Net income 212,952 Preferred dividend requirements (18,108 ) Net income available to common shareholders of EPR Properties $ 194,844

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. In addition, operating results for the nine month period ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . Amounts as of December 31, 2018 have been derived from the audited consolidated financial statements as of that date and should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission (SEC) on February 28, 2019. The Company consolidates certain entities when it is deemed to be the primary beneficiary in a variable interest entity (VIE) in which it has a controlling financial interest in accordance with the consolidation guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The equity method of accounting is applied to entities in which the Company is not the primary beneficiary as defined in the FASB ASC Topic on Consolidation (Topic 810), or does not have effective control, but can exercise influence over the entity with respect to its operations and major decisions.
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Recently Adopted Accounting Pronouncements On January 1, 2019, Accounting Standards Update (ASU) No. 2016-02 Leases (Topic 842) became effective for the Company. The Company adopted the standard on the effective date and used the effective date as the date of initial application. Accordingly, comparative periods have not been recast, and disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The standard offered several practical expedients for transition and certain expedients specific to lessees or lessors. Both lessees and lessors are permitted to make an election to apply a package of practical expedients available for implementation under the standard. The Company elected to apply the package of practical expedients, which permitted the Company to not reassess its prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected the expedient to not evaluate existing or expired land easements and elected the practical expedient to not separate lease and non-lease components for all its leases where it is the lessor. In addition, the Company elected the short-term lease exception, which allows the Company to account for leases with a lease term of 12 months or less similar to existing operating leases. The Company did not elect the use-of-hindsight expedient. See Note 16 for information related to the Company's leases.
Operating Segments	Operating Segments The Company has four reportable operating segments: Entertainment, Recreation, Education and Other. See Note 15
Rental Properties	Real Estate Investments Real estate investments are carried at initial recorded value less accumulated depreciation. Costs incurred for the acquisition and development of the properties are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Tenant improvements, including allowances, are depreciated over the shorter of the lease term or the estimated useful life and leasehold interests are depreciated over the useful life of the underlying ground lease. Management reviews a property for impairment whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable, which is based on an estimate of undiscounted future cash flows expected to result from its use and eventual disposition. If impairment exists due to the inability to recover the carrying value of the property, an impairment loss is recorded to the extent that the carrying value of the property exceeds its estimated fair value. The Company evaluates the held-for-sale classification of its real estate as of the end of each quarter. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value less costs to sell and are generally classified as held for sale once management has initiated an active program to market them for sale and it is probable the assets will be sold within one year. On occasion, the Company will receive unsolicited offers from third parties to buy individual Company properties. Under these circumstances, the Company will classify the properties as held for sale when a sales contract is executed with no contingencies and the prospective buyer has funds at risk to ensure performance.
Business Combinations and Other Purchase of Business Transactions, Policy [Policy Text Block]	Real Estate Acquisitions Upon acquisition of real estate properties, the Company evaluates the acquisition to determine if it is a business combination or an asset acquisition. If the acquisition is determined to be an asset acquisition, the Company records the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis. In addition, costs incurred for asset acquisitions including transaction costs, are capitalized. If the acquisition is determined to be a business combination, the Company records the fair value of acquired tangible assets and identified intangible assets and liabilities as well as any noncontrolling interest. In addition, acquisition-related costs in connection with business combinations are expensed as incurred. Costs related to such transactions, as well as costs associated with terminated transactions and pre-opening costs, are included in the accompanying consolidated statements of income as transaction costs.
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Costs Deferred financing costs are amortized over the terms of the related debt obligations or mortgage note receivable as applicable. Deferred financing costs of $38.4 million and $33.9 million as of September 30, 2019 and December 31, 2018 , respectively, are shown as a reduction of debt. The deferred financing costs of $3.9 million and $5.0 million as of September 30, 2019 and December 31, 2018
Revenue Recognition	Rental Revenue The Company leases real estate to its tenants primarily under leases that are predominately classified as operating leases. The Company's leases generally provide for rent escalations throughout the lease terms. Rents that are fixed are recognized on a straight-line basis over the lease term. Base rent escalations that include a variable component are recognized upon the occurrence of the specified event as defined in the Company's lease agreements. Many of the Company's leasing arrangements include options to extend the lease, which are not included in the minimum lease terms unless it is reasonably certain to be exercised. Straight-line rental revenue is subject to an evaluation for collectibility, and the Company records a direct write-off against rental revenue if collectibility of these future rents is not probable. For the nine months ended September 30, 2019 and 2018 , the Company recognized $10.0 million and $7.0 million , respectively, of straight-line rental revenue, net of write-offs of $1.4 million for the nine months ended September 30, 2019 . There were no straight-line write-offs recognized during the nine months ended September 30, 2018 . Most of the Company’s lease contracts are triple-net leases, which require the tenants to make payments to third parties for lessor costs (such as property taxes and insurance) associated with the properties. In accordance with Topic 842, the Company does not include these payments made by the lessees to third parties in rental revenue or property operating expenses. In certain situations, the Company pays these lessor costs directly to third-parties and the tenants reimburse the Company. In accordance with Topic 842, these payments are presented on a gross basis in rental revenue and property operating expense. During the nine months ended September 30, 2019 , the Company recognized $5.8 million in tenant reimbursements related to the gross up of these reimbursed expenses which are included in rental revenue. Certain of the Company's leases, particularly at its entertainment retail centers, require the tenants to make payments to the Company for property related expenses such as common area maintenance. The Company has elected to combine these non-lease components with the lease components in rental revenue. As such, certain reclassifications have been made to the 2018 presentation to conform to the 2019 presentation to combine tenant reimbursements with rental revenue. For both the nine months ended September 30, 2019 and 2018 , the Company recognized $11.4 million of tenant reimbursements that related to the operations of its entertainment retail centers. In addition, most of the Company's tenants are subject to additional rents if gross revenues of the properties exceed certain thresholds defined in the lease agreements (percentage rents). Percentage rents are recognized at the time when specific triggering events occur as provided by the lease agreement. Rental revenue included percentage rents of $8.5 million and $5.7 million for the nine months ended September 30, 2019 and 2018 , respectively. The Company regularly evaluates the collectibility of its receivables on a lease by lease basis. The evaluation primarily consists of reviewing past due account balances and considering such factors as the credit quality of the Company's tenants, historical trends of the tenant and/or other debtor, current economic conditions and changes in customer payment terms. The Company suspends revenue recognition when the collectibility of lease receivables or future lease payments are no longer probable and records a direct write-off of the receivable to rental revenue. For the nine months ended September 30, 2019 , the Company recognized $0.3 million in reductions to rental income related to the write-off of tenant receivables. Certain reclassifications have been made to the 2018 presentation to conform to the 2019 presentation related to the Company's former presentation of the allowance for doubtful accounts.
Property Sales, Policy [Policy Text Block]	Property Sales Sales of real estate properties are recognized when a contract exists and the purchaser has obtained control of the property. Gains on sales of properties are recognized in full in a partial sale of nonfinancial assets, to the extent control is not retained. Any noncontrolling interest retained by the seller would, accordingly, be measured at fair value. The Company evaluates each sale or disposal transaction to determine if it meets the criteria to qualify as discontinued operations. If the sale or disposal transaction does not meet the criteria, the operations and related gain or loss on sale is included in income from continuing operations.
Mortgage Notes And Other Notes Receivable	Mortgage Notes and Other Notes Receivable Mortgage notes and other notes receivable, including related accrued interest receivable, consist of loans originated by the Company and the related accrued and unpaid interest income as of the balance sheet date. Mortgage notes and other notes receivable are initially recorded at the amount advanced to the borrower. Interest income is recognized using the effective interest method based on the stated interest rate over the estimated life of the note. The Company evaluates the collectibility of both interest and principal of each of its loans to determine whether it is impaired. A loan is considered to be impaired when, based on current information and events, the Company determines that it is probable that it will be unable to collect all amounts due according to the existing contractual terms. An insignificant delay or shortfall in amounts of payments does not necessarily result in the loan being identified as impaired. When a loan is considered to be impaired, the amount of loss, if any, is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the Company’s interest in the underlying collateral, less costs to sell, if the loan is collateral dependent. For impaired loans, interest income is recognized on a cash basis, unless the Company determines based on the loan to estimated fair value ratio the loan should be on the cost recovery method, and any cash payments received would then be reflected as a reduction The following table summarizes the carrying amounts of accounts receivable as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, Receivable from tenants $ 4,523 $ 12,158 Receivable from non-tenants (1) 5,306 1,379 Receivable from Sullivan County Infrastructure Revenue Bonds — 11,500 Straight-line rent receivable (2) 89,361 73,332 Total $ 99,190 $ 98,369 (1) At September 30, 2019 , includes $3.4 million in receivables for proceeds from the Company's Dividend Reinvestment and Direct Share Purchase Plan (DSPP) on common shares processed on September 30, 2019 and received on October 1, 2019. See Note 7 for information related to the Company's DSPP. (2) At September 30, 2019 , includes $25.2 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.
Mortgage and Other Financing Income [Policy Text Block]	Mortgage and Other Financing Income Certain of the Company's borrowers are subject to additional interest based on certain thresholds defined in the mortgage agreements (participating interest). Participating interest income is recognized at the time when specific triggering events occur as provided by the mortgage agreement. Mortgage and other financing income included participating interest income of $0.6 million for the nine months ended September 30, 2019 . No participating interest income was recognized for the nine months ended September 30, 2018 . In addition, for the nine months ended September 30, 2019 and 2018 , mortgage and other financing income included $2.7 million and $67.3 million , respectively, in prepayment fees related to mortgage notes that were paid fully in advance of their maturity date. As described above, the Company adopted Topic 842 on January 1, 2019 and elected to not reassess its prior conclusions about lease classification. Accordingly, the Company's leases that were classified as investment in direct financing leases retained this classification. Direct financing lease income is included in mortgage and other financing income and is recognized on the effective interest method to produce a level yield on funds not yet recovered. Estimated unguaranteed residual values at the date of lease inception represent management's initial estimates of fair value of the leased assets at the expiration of the lease, not to exceed original cost. The Company evaluates on an annual basis (or more frequently, if necessary) the collectibility of its direct financing lease receivable and unguaranteed residual value to determine whether they are impaired. A direct financing lease receivable is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a direct financing lease receivable is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the direct financing lease receivable's effective interest rate or to the fair value of the underlying collateral, less costs to sell, if such receivable is collateralized.
Concentrations Of Risk	Concentrations of Risk American Multi-Cinema, Inc. (AMC) was the lessee of a substantial portion ( 30% ) of the megaplex theatre properties held by the Company at September 30, 2019 . For the nine months ended September 30, 2019 and 2018 , approximately $92.4 million or 17.6% and $86.3 million or 16.2% , respectively, of the Company's total revenues were derived from rental payments by AMC. Topgolf USA (Topgolf) was the lessee of a substantial portion ( 43% ) of the recreation properties held by the Company at September 30, 2019 . For the nine months ended September 30, 2019 and 2018 , approximately $57.6 million or 11.0% and $46.4 million or 8.7% , respectively, of the Company's total revenues were derived from rental payments by Topgolf. Regal Entertainment Group (Regal) was the lessee of a substantial portion ( 31% ) of the megaplex theatre properties held by the Company at September 30, 2019 . For the nine months ended September 30, 2019 and 2018 , approximately $53.8 million or 10.2% and $42.6 million or 8.0% , respectively, of the Company's total revenues were derived from rental payments by Regal.
Share-Based Compensation	Share-Based Compensation Share-based compensation to employees of the Company is granted pursuant to the Company's Annual Incentive Program and Long-Term Incentive Plan and share-based compensation to non-employee Trustees of the Company is granted pursuant to the Company's Trustee compensation program. Share-based compensation expense consists of share option expense and amortization of nonvested share grants issued to employees, and amortization of share units issued to non-employee Trustees for payment of their annual retainers. Share-based compensation included in general and administrative expense in the accompanying consolidated statements of income totaled $9.8 million and $11.3 million for the nine months ended September 30, 2019 and 2018 , respectively. Share-based compensation included in severance expense in the accompanying consolidated statement of income totaled $0.5 million for the nine months ended September 30, 2019 .
Share Options	Share Options Share options are granted to employees pursuant to the Long-Term Incentive Plan. The fair value of share options granted is estimated at the date of grant using the Black-Scholes option pricing model. Share options granted to employees vest over a period of four years and share option expense for these options is recognized on a straight-line basis over the vesting period. Expense recognized related to share options and included in general and administrative expense in the accompanying consolidated statements of income was $7 thousand and $213 thousand for the nine months ended September 30, 2019 and 2018 , respectively.
Nonvested Shares Issued To Employees	Nonvested Shares Issued to Employees The Company grants nonvested shares to employees pursuant to both the Annual Incentive Program and the Long-Term Incentive Plan. The Company amortizes the expense related to the nonvested shares awarded to employees under the Long-Term Incentive Plan and the premium awarded under the nonvested share alternative of the Annual Incentive Program on a straight-line basis over the future vesting period (three or four years ). Expense recognized related to nonvested shares and included in general and administrative expense in the accompanying consolidated statements of income was $8.5 million and $10.2 million for the nine months ended September 30, 2019 and 2018 , respectively. Expense recognized related to nonvested shares and included in severance expense in the accompanying consolidated statement of income was $0.5 million for the nine months ended September 30, 2019 .
Restricted Share Units Issued To Non-Employee Trustees	Restricted Share Units Issued to Non-Employee Trustees The Company issues restricted share units to non-employee Trustees for payment of their annual retainers under the Company's Trustee compensation program. The fair value of the share units granted was based on the share price at the date of grant. The share units vest upon the earlier of the day preceding the next annual meeting of shareholders or a change of control. The settlement date for the shares is selected by the non-employee Trustee, and ranges from one year from the grant date to upon termination of service. This expense is amortized by the Company on a straight-line basis over the year of service by the non-employee Trustees. Total expense recognized related to shares issued to non-employee Trustees was $1.4 million and $931 thousand for the nine months ended September 30, 2019 and 2018 , respectively.
Derivative Instruments	Derivative Instruments The Company uses derivative instruments to reduce exposure to fluctuations in foreign currency exchange rates and variable interest rates. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as foreign currency risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. For its net investment hedges that hedge the foreign currency exposure of its Canadian investments, the Company has elected to assess hedge effectiveness using a method based on changes in spot exchange rates and record the changes in the fair value amounts excluded from the assessment of effectiveness into earnings on a systematic and rational basis. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. If hedge accounting is not applied, realized and unrealized gains or losses are reported in earnings. The Company's policy is to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.
New Accounting Pronouncements, Policy [Policy Text Block]	Impact of Recently Issued Accounting Standards In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments , which amends ASC Topic 326, Financial Instruments - Credit Losses . The ASU changes the methodology for measuring credit losses on financial instruments and timing of when such losses are recorded. The amendments in ASU No. 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectibility of financial assets and eliminates the incurred losses methodology under current U.S. GAAP. In addition, in November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses , which also amends ASC Topic 326, Financial Instruments - Credit Losses. The ASU states that operating lease receivables are not in the scope of Subtopic 326-20. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. The ASU changes how a company considers expected recoveries and contractual extensions or renewal options when estimating expected credit losses.

Rental Properties (Tables)

Rental Properties (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Summary Of Carrying Amounts Of Rental Properties	The following table summarizes the carrying amounts of real estate investments as of September 30, 2019 and December 31, 2018 (in thousands): September 30, 2019 December 31, 2018 Buildings and improvements $ 5,074,504 $ 4,593,159 Furniture, fixtures & equipment 126,659 97,463 Land 1,331,586 1,190,568 Leasehold interests 26,041 26,041 6,558,790 5,907,231 Accumulated depreciation (989,480 ) (883,174 ) Total $ 5,569,310 $ 5,024,057

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Schedule Of Accounts Receivable	The following table summarizes the carrying amounts of accounts receivable as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, Receivable from tenants $ 4,523 $ 12,158 Receivable from non-tenants (1) 5,306 1,379 Receivable from Sullivan County Infrastructure Revenue Bonds — 11,500 Straight-line rent receivable (2) 89,361 73,332 Total $ 99,190 $ 98,369 (1) At September 30, 2019 , includes $3.4 million in receivables for proceeds from the Company's Dividend Reinvestment and Direct Share Purchase Plan (DSPP) on common shares processed on September 30, 2019 and received on October 1, 2019. See Note 7 for information related to the Company's DSPP. (2) At September 30, 2019 , includes $25.2 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.

Investments In Direct Financi_2

Investments In Direct Financing Lease (Tables)	9 Months Ended
	Sep. 30, 2019
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Summary Of Carrying Amounts Of Investments In Direct Financing Leases, Net	The following table summarizes the carrying amounts of investment in direct financing leases, net as of September 30, 2019 and December 31, 2018 (in thousands): September 30, 2019 December 31, 2018 Total minimum lease payments receivable $ 34,659 $ 36,352 Estimated unguaranteed residual value of leased assets 16,509 16,509 Less deferred income (1) (30,441 ) (32,303 ) Investment in direct financing leases, net $ 20,727 $ 20,558 (1) Deferred income is net of $0.3 million of initial direct costs at September 30, 2019 and December 31, 2018 .

Capital Markets Issuance of Sha

Capital Markets Issuance of Shares (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Common And Preferred Shares Disclosure [Text Block]	On June 3, 2019, the Company filed a shelf registration statement with the SEC, which is effective for a term of three years. The securities covered by this registration statement include common shares, preferred shares, debt securities, depositary shares, warrants, and units. The Company may periodically offer one of more of these securities in amounts, prices and on terms to be announced when and if these securities are offered. The specifics of any future offerings along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of any offering. Additionally, on June 3, 2019, the Company filed a shelf registration statement with the SEC, which is effective for a term of three years, for its DSPP which permits the issuance of up to 15,000,000 common shares. During the nine months ended September 30, 2019 , the Company issued an aggregate of 3,783,718 common shares under its DSPP for net proceeds of $288.9 million . Subsequent to September 30, 2019, the Company issued 219 thousand common shares under this plan for net proceeds of $16.7 million . The Company declared regular monthly cash dividends on its common shares during the three and nine months ended September 30, 2019 totaling $1.125 and $3.375 per common share, respectively. During the three and nine months ended September 30, 2019 , the Company also declared cash dividends of $0.359375 and $1.078125 per share, respectively, on its 5.75% Series C cumulative convertible preferred shares, $0.5625 and $1.6875 per share, respectively, on its 9.00% Series E cumulative convertible preferred shares and $0.359375 and $1.078125 per share, respectively, on its 5.75% Series G cumulative redeemable preferred shares.

Capital Markets Debt (Tables)

Capital Markets Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	On August 15, 2019, the Company issued $500.0 million in aggregate principal amount of senior notes due August 15, 2029 pursuant to an underwritten public offering. The notes bear interest at an annual rate of 3.75% . Interest is payable on February 15 and August 15 of each year beginning on February 15, 2020 until the stated maturity date of August 15, 2029. The notes were issued at 99.168% of their face value and are unsecured. The notes contain various covenants, including: (i) a limitation on incurrence of any debt which would cause the ratio of the Company’s debt to adjusted total assets to exceed 60% ; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40% ; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times; and (iv) the maintenance at all times of the Company's total unencumbered assets such that they are not less than 150% of the Company’s outstanding unsecured debt. Net proceeds from the note offering were used for the tender offer and redemption of notes due in 2022 discussed below and to pay down the Company's unsecured revolving credit facility. On August 19, 2019, $219.4 million of the $350.0 million aggregate principal amount of 5.75% Senior Notes due August 15, 2022 were validly tendered and delivered for consideration of the principal amount outstanding plus a premium of $23.6 million . On September 16, 2019, the Company redeemed all of the remaining outstanding notes that were not validly tendered. The notes were redeemed at a price equal to the principal amount outstanding plus a premium calculated pursuant to the terms of the indenture of $13.3 million , together with accrued and unpaid interest of $0.6 million . In connection with the tender offer and the redemption, the Company recorded a non-cash write off of $1.4 million in deferred financing costs. The premiums paid and the non-cash write off, totaling $38.3 million , were recognized as costs associated with loan refinancing or payoff in the accompanying consolidated statements of income for the three and nine months ended September 30, 2019 . Additionally, the Company prepaid in full two economic development revenue bonds totaling $24.8 million during the nine months ended September 30, 2019, each with a variable interest rate. See Note 14

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Summary of Derivative Instruments [Abstract]
Summary Of The Effect Of Derivative Instruments On The Consolidated Statements Of Changes In Equity And Income	Below is a summary of the effect of derivative instruments on the consolidated statements of changes in equity and income for the three and nine months ended September 30, 2019 and 2018 . Effect of Derivative Instruments on the Consolidated Statements of Changes in Equity and Income for the Three and Nine Months Ended September 30, 2019 and 2018 (Dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Description 2019 2018 2019 2018 Cash Flow Hedges Interest Rate Swaps Amount of (Loss) Gain Recognized in AOCI on Derivative $ (1,106 ) $ 1,434 $ (8,958 ) $ 8,328 Amount of Income Reclassified from AOCI into Earnings (1) 174 433 1,352 695 Cross-Currency Swaps Amount of Gain (Loss) Recognized in AOCI on Derivative 134 (294 ) (342 ) 767 Amount of Income Reclassified from AOCI into Earnings (2) 135 91 426 1,266 Net Investment Hedges Cross-Currency Swaps Amount of Gain (Loss) Recognized in AOCI on Derivative 3,033 (2,164 ) (1,863 ) (2,755 ) Amount of Income Recognized in Earnings (2)(3) 139 124 423 124 Currency Forward Agreements Amount of Gain Recognized in AOCI on Derivative — 5 — 8,560 Amount of Expense Reclassified from AOCI into Earnings (2) — — — — Total Amount of Gain (Loss) Recognized in AOCI on Derivatives $ 2,061 $ (1,019 ) $ (11,163 ) $ 14,900 Amount of Income Reclassified from AOCI into Earnings 309 524 1,778 1,961 Amount of Income Recognized in Earnings 139 124 423 124 Interest expense, net in accompanying consolidated statements of income $ 36,640 $ 33,576 $ 106,744 $ 101,992 Other income in accompanying consolidated statements of income $ 11,464 $ 365 $ 17,534 $ 1,641 (1) Included in "Interest expense, net" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 . (2) Included in "Other income" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 . (3) Amounts represent derivative gains excluded from the effectiveness testing.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Assets Measured At Fair Value On A Recurring Basis	The table below presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 aggregated by the level in the fair value hierarchy within which those measurements are classified and by derivative type. Assets and Liabilities Measured at Fair Value on a Recurring Basis at September 30, 2019 and December 31, 2018 (Dollars in thousands) Description Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Balance at end of period September 30, 2019 Cross-Currency Swaps* $ — $ 3,646 $ — $ 3,646 Interest Rate Swap Agreements** $ — $ (5,966 ) $ — $ (5,966 ) December 31, 2018 Cross-Currency Swaps* $ — $ 6,278 $ — $ 6,278 Interest Rate Swap Agreements* $ — $ 4,344 $ — $ 4,344 *Included in "Other assets" in the accompanying consolidated balance sheets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Earnings Per Share	The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the three and nine months ended September 30, 2019 and 2018 (amounts in thousands except per share information): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Income (numerator) Shares (denominator) Per Share Amount Income Shares Per Share Basic EPS: Net income $ 34,003 $ 165,946 Less: preferred dividend requirements (6,034 ) (18,102 ) Net income available to common shareholders $ 27,969 77,632 $ 0.36 $ 147,844 76,169 $ 1.94 Diluted EPS: Net income available to common shareholders $ 27,969 77,632 $ 147,844 76,169 Effect of dilutive securities: Share options — 32 — 38 Net income available to common shareholders $ 27,969 77,664 $ 0.36 $ 147,844 76,207 $ 1.94 Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Income Shares Per Share Income Shares Per Share Basic EPS: Net income $ 91,833 $ 212,952 Less: preferred dividend requirements (6,036 ) (18,108 ) Net income available to common shareholders $ 85,797 74,345 $ 1.15 $ 194,844 74,274 $ 2.62 Diluted EPS: Net income available to common shareholders $ 85,797 74,345 $ 194,844 74,274 Effect of dilutive securities: Share options — 59 — 42 Net income available to common shareholders $ 85,797 74,404 $ 1.15 $ 194,844 74,316 $ 2.62

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Summary Of Share Option Activity	A summary of the Company’s share option activity and related information is as follows: Number of options Option price per share Weighted avg. exercise price Outstanding at December 31, 2018 234,875 $ 19.02 — $ 76.63 $ 51.98 Exercised (118,786 ) 19.02 — 61.79 48.71 Granted 1,941 73.84 — 73.84 73.84 Outstanding at September 30, 2019 118,030 $ 44.62 — $ 76.63 $ 55.63
Summary Of Outstanding Options	The following table summarizes outstanding and exercisable options at September 30, 2019 : Options outstanding Options exercisable Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $ 44.62 - 49.99 31,445 2.3 31,445 2.3 50.00 - 59.99 31,710 4.8 28,834 4.4 60.00 - 69.99 50,719 5.4 50,719 5.4 70.00 - 76.63 4,156 8.3 1,108 7.4 118,030 4.5 $ 55.63 $ 2,505 112,106 4.3 $ 55.08 $ 2,442
Summary Of Nonvested Share Activity	A summary of the Company’s nonvested share activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2018 655,056 $ 64.16 Granted 208,755 74.13 Vested (346,145 ) 64.66 Forfeited (8,328 ) 66.38 Outstanding at September 30, 2019 509,338 $ 67.88 1.11
Summary Of Restricted Share Unit Activity	A summary of the Company’s restricted share unit activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2018 23,571 $ 61.25 Granted 27,392 77.19 Vested (24,727 ) 61.62 Outstanding at September 30, 2019 26,236 $ 77.54 0.67

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of Reportable Operating Segments	Segment Information The Company groups investments into four reportable operating segments: Entertainment, Recreation, Education and Other. The financial information summarized below is presented by reportable operating segment (in thousands): Balance Sheet Data: As of September 30, 2019 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,829,477 $ 2,233,445 $ 1,243,761 $ 195,217 $ 131,390 $ 6,633,290 As of December 31, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,344,855 $ 2,187,808 $ 1,366,278 $ 207,724 $ 24,725 $ 6,131,390 Operating Data: Three Months Ended September 30, 2019 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 87,720 $ 42,784 $ 27,643 $ 3,115 $ — $ 161,262 Other income 1,202 9,988 — — 274 11,464 Mortgage and other financing income 382 6,238 5,516 — — 12,136 Total revenue 89,304 59,010 33,159 3,115 274 184,862 Property operating expense 9,497 2,843 1,107 997 219 14,663 Other expense 864 10,539 — — — 11,403 Total investment expenses 10,361 13,382 1,107 997 219 26,066 Net operating income - before unallocated items 78,943 45,628 32,052 2,118 55 158,796 Reconciliation to Consolidated Statements of Income: General and administrative expense (11,600 ) Severance expense (1,521 ) Costs associated with loan refinancing or payoff (38,407 ) Interest expense, net (36,640 ) Transaction costs (5,959 ) Depreciation and amortization (45,134 ) Equity in loss from joint ventures (435 ) Gain on sale of real estate 14,303 Income tax benefit 600 Net income 34,003 Preferred dividend requirements (6,034 ) Net income available to common shareholders of EPR Properties $ 27,969 Operating Data: Three Months Ended September 30, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 75,552 $ 36,215 $ 26,851 $ 2,287 $ — $ 140,905 Other income 143 — — — 222 365 Mortgage and other financing income 612 29,678 4,849 — — 35,139 Total revenue 76,307 65,893 31,700 2,287 222 176,409 Property operating expense 5,917 34 407 449 161 6,968 Other expense — 118 — — — 118 Total investment expenses 5,917 152 407 449 161 7,086 Net operating income - before unallocated items 70,390 65,741 31,293 1,838 61 169,323 Reconciliation to Consolidated Statements of Income: General and administrative expense (11,424 ) Interest expense, net (33,576 ) Transaction costs (1,101 ) Depreciation and amortization (38,623 ) Equity in income from joint ventures 20 Gain on sale of real estate 2,215 Gain on sale of investment in direct financing leases 5,514 Income tax expense (515 ) Net income 91,833 Preferred dividend requirements (6,036 ) Net income available to common shareholders of EPR Properties $ 85,797 Operating Data: Nine Months Ended September 30, 2019 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 251,951 $ 126,199 $ 82,409 $ 8,756 $ — $ 469,315 Other income 2,787 13,897 — — 850 17,534 Mortgage and other financing income 545 24,204 13,504 — — 38,253 Total revenue 255,283 164,300 95,913 8,756 850 525,102 Property operating expense 29,993 8,306 3,275 2,974 679 45,227 Other expense 1,893 17,601 — — — 19,494 Total investment expenses 31,886 25,907 3,275 2,974 679 64,721 Net operating income - before unallocated items 223,397 138,393 92,638 5,782 171 460,381 Reconciliation to Consolidated Statements of Income: General and administrative expense (35,540 ) Severance expense (1,941 ) Costs associated with loan refinancing or payoff (38,407 ) Interest expense, net (106,744 ) Transaction costs (18,005 ) Depreciation and amortization (127,232 ) Equity in income from joint ventures 524 Gain on sale of real estate 30,405 Income tax benefit 2,505 Net income 165,946 Preferred dividend requirements (18,102 ) Net income available to common shareholders of EPR Properties $ 147,844 Operating Data: Nine Months Ended September 30, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 225,040 $ 104,090 $ 74,885 $ 6,833 $ — $ 410,848 Other income 147 62 — — 1,432 1,641 Mortgage and other financing income 3,514 100,923 17,318 — — 121,755 Total revenue 228,701 205,075 92,203 6,833 1,432 534,244 Property operating expense 17,962 91 1,880 1,452 481 21,866 Other expense — 118 — — — 118 Total investment expenses 17,962 209 1,880 1,452 481 21,984 Net operating income - before unallocated items 210,739 204,866 90,323 5,381 951 512,260 Reconciliation to Consolidated Statements of Income: General and administrative expense (36,724 ) Litigation settlement expense (2,090 ) Costs associated with loan refinancing or payoff (31,958 ) Interest expense, net (101,992 ) Transaction costs (2,115 ) Impairment charges (16,548 ) Depreciation and amortization (113,889 ) Equity in loss from joint ventures (17 ) Gain on sale of real estate 2,688 Gain on sale of investment in direct financing leases 5,514 Income tax expense (2,177 ) Net income 212,952 Preferred dividend requirements (18,108 ) Net income available to common shareholders of EPR Properties $ 194,844

Operating Leases (Tables)

Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table summarizes the future minimum lease payments under the ground lease obligations and the office lease at September 30, 2019 and December 31, 2018 , excluding contingent rent due under leases where the ground lease payment, or a portion thereof, is based on the level of the tenant's sales (in thousands): September 30, 2019 December 31, 2018 (3) Ground Leases (1) Office lease (2) Ground Leases Office lease (2) Year: 2019 $ 6,345 $ 214 $ 22,867 $ 856 2020 24,592 856 23,236 856 2021 25,036 884 23,600 884 2022 24,468 967 22,996 967 2023 23,812 967 22,303 967 Thereafter 271,911 2,658 257,446 2,658 Total lease payments $ 376,164 $ 6,546 $ 372,448 $ 7,188 Less: imputed interest 137,368 984 Present value of lease liabilities $ 238,796 $ 5,562 (1) Included in property operating expense. (2) Included in general and administrative expense. (3) Balances as of December 31, 2018 are prior to the adoption of Topic 842.
Lease, Cost [Table Text Block]	The following table summarizes the lease costs and sublease income for the three and nine months ended September 30, 2019 (in thousands): Classification Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Lease Cost Operating ground lease cost Property operating expense $ 6,407 $ 18,410 Operating office lease cost General and administrative expense 226 682 Sublease income Rental revenue (5,931 ) (17,489 ) Net lease cost $ 702 $ 1,603
Lessee, Operating Lease, Disclosure [Table Text Block]	Operating Leases The Company’s real estate investments are leased under operating leases with remaining terms ranging from one year to 30 years . As described in Note 2, the Company adopted Topic 842 on January 1, 2019 and elected to not reassess its prior conclusions about lease classification. Accordingly, these lease arrangements continue to be classified as operating leases. The following table summarizes the future minimum rentals on the Company's lessor and sub-lessor arrangements at September 30, 2019 and December 31, 2018 (in thousands): September 30, 2019 December 31, 2018 (2) Operating leases Sub-lessor operating ground leases Operating leases Amount (1) Amount (1) Total Amount (1) Year: 2019 $ 141,626 $ 6,139 $ 147,765 $ 520,139 2020 556,890 23,975 580,865 503,344 2021 546,544 24,371 570,915 492,165 2022 533,426 23,798 557,224 477,671 2023 506,118 23,138 529,256 449,686 Thereafter 4,641,759 253,977 4,895,736 3,953,717 Total $ 6,926,363 $ 355,398 $ 7,281,761 $ 6,396,722 (1) Included in rental revenue. (2) Balances as of December 31, 2018 are prior to the adoption of Topic 842. In addition to its lessor arrangements on its real estate investments, as of September 30, 2019 and December 31, 2018, the Company was lessee in 58 operating ground leases as well as lessee in an operating lease of its executive office. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these ground leases. In the event the tenant fails to pay the ground lease rent, the Company would be primarily responsible for the payment, assuming the Company does not sell or re-tenant the property. As of September 30, 2019 , the ground lease arrangements have remaining terms ranging from two years to 47 years . Most of these leases include one or more options to renew. The Company assesses these options using a threshold of reasonably certain, which also includes an assessment of the term of the Company's tenants' leases. For leases where renewal is reasonably certain, those option periods are included within the lease term and also the measurement of the operating lease right-of-use asset and liability. The ground lease arrangements do not contain any residual value guarantees or any material restrictions. As of September 30, 2019 , the Company does not have any leases that have not commenced but that create significant rights and obligations. The Company determines whether an arrangement is or includes a lease at contract inception. Operating lease right-of-use assets and liabilities are recognized at commencement date and initially measured based on the present value of lease payments over the defined lease term. As the Company's leases do not provide an implicit rate, the Company used its incremental borrowing rate adjusted for related collateral based on the information available at adoption or the commencement date in determining the present value of lease payments. The following table summarizes the future minimum lease payments under the ground lease obligations and the office lease at September 30, 2019 and December 31, 2018 , excluding contingent rent due under leases where the ground lease payment, or a portion thereof, is based on the level of the tenant's sales (in thousands): September 30, 2019 December 31, 2018 (3) Ground Leases (1) Office lease (2) Ground Leases Office lease (2) Year: 2019 $ 6,345 $ 214 $ 22,867 $ 856 2020 24,592 856 23,236 856 2021 25,036 884 23,600 884 2022 24,468 967 22,996 967 2023 23,812 967 22,303 967 Thereafter 271,911 2,658 257,446 2,658 Total lease payments $ 376,164 $ 6,546 $ 372,448 $ 7,188 Less: imputed interest 137,368 984 Present value of lease liabilities $ 238,796 $ 5,562 (1) Included in property operating expense. (2) Included in general and administrative expense. (3) Balances as of December 31, 2018 are prior to the adoption of Topic 842. The following table summarizes the carrying amounts of the operating lease right-of-use assets and liabilities as of September 30, 2019 (in thousands): As of Classification September 30, 2019 Assets: Operating ground lease assets Operating lease right-of-use assets $ 214,106 Office lease asset Operating lease right-of-use assets 5,353 Total operating lease right-of-use assets $ 219,459 Sub-lessor straight-line rent receivable Accounts receivable 25,183 Total leased assets $ 244,642 Liabilities: Operating ground lease liabilities Operating lease liabilities $ 238,796 Office lease liability Operating lease liabilities 5,562 Total lease liabilities $ 244,358 The following table summarizes the lease costs and sublease income for the three and nine months ended September 30, 2019 (in thousands): Classification Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Lease Cost Operating ground lease cost Property operating expense $ 6,407 $ 18,410 Operating office lease cost General and administrative expense 226 682 Sublease income Rental revenue (5,931 ) (17,489 ) Net lease cost $ 702 $ 1,603 The following table summarizes the weighted-average remaining lease term and the weighted-average discount rate as of September 30, 2019 : As of September 30, 2019 Weighted-average remaining lease term in years Operating ground leases 16.8 Operating office lease 7.0 Weighted-average discount rate Operating ground leases 4.95 % Operating office lease 4.62 %
Lessee, Operating Leases [Text Block]	The following table summarizes the carrying amounts of the operating lease right-of-use assets and liabilities as of September 30, 2019 (in thousands): As of Classification September 30, 2019 Assets: Operating ground lease assets Operating lease right-of-use assets $ 214,106 Office lease asset Operating lease right-of-use assets 5,353 Total operating lease right-of-use assets $ 219,459 Sub-lessor straight-line rent receivable Accounts receivable 25,183 Total leased assets $ 244,642 Liabilities: Operating ground lease liabilities Operating lease liabilities $ 238,796 Office lease liability Operating lease liabilities 5,562 Total lease liabilities $ 244,358

Operating Leases Operating Leas

Operating Leases Operating Leases, Lessor (Tables)	9 Months Ended
	Sep. 30, 2019
Lessor, Lease, Description [Line Items]
operating lease, weighted average discount rate and remaining lease term [Text Block]	The following table summarizes the weighted-average remaining lease term and the weighted-average discount rate as of September 30, 2019 : As of September 30, 2019 Weighted-average remaining lease term in years Operating ground leases 16.8 Operating office lease 7.0 Weighted-average discount rate Operating ground leases 4.95 % Operating office lease 4.62 %
Lessor, Operating Leases [Text Block]	The following table summarizes the future minimum rentals on the Company's lessor and sub-lessor arrangements at September 30, 2019 and December 31, 2018 (in thousands): September 30, 2019 December 31, 2018 (2) Operating leases Sub-lessor operating ground leases Operating leases Amount (1) Amount (1) Total Amount (1) Year: 2019 $ 141,626 $ 6,139 $ 147,765 $ 520,139 2020 556,890 23,975 580,865 503,344 2021 546,544 24,371 570,915 492,165 2022 533,426 23,798 557,224 477,671 2023 506,118 23,138 529,256 449,686 Thereafter 4,641,759 253,977 4,895,736 3,953,717 Total $ 6,926,363 $ 355,398 $ 7,281,761 $ 6,396,722 (1) Included in rental revenue. (2) Balances as of December 31, 2018 are prior to the adoption of Topic 842.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)segment	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Operating Segments
Number of Reportable Operating Segments | segment			4
Revenue Recognition [Abstract]
Straight Line Rent			$ 10,000	$ 7,000
Straight line rent write off			1,400	0
Percentage rents			8,500	5,700
Mortgage And Other Participating Interest Income			600	0
Concentrations of Risk [Abstract]
Rental revenue	$ 161,262	$ 140,905	469,315	410,848
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation			$ 9,832	11,295
Range of settlement date for shares for non-employee trustee from grant date, minimum (in years)			1 year
Deferred Costs	38,400		$ 38,400		$ 33,900
Accounts Receivable, Allowance for Credit Loss, Writeoff			300
Prepaymentfee			2,700	67,300
Recovery of Direct Costs			11,400	11,400
Share-based payment arrangement, noncash expense included in severance			$ 521	0
American Multi-Cinema, Inc. [Member]
Concentrations of Risk [Abstract]
Percent of megaplex theatre rental leased by AMC			30.00%
Rental revenue			$ 92,400	$ 86,300
Percentage of lease revenue in total revenue			17.60%	16.20%
TopGolf [Member]
Concentrations of Risk [Abstract]
Percent of megaplex theatre rental leased by AMC			43.00%
Rental revenue			$ 57,600	$ 46,400
Percentage of lease revenue in total revenue			11.00%	8.70%
Regal [Member]
Concentrations of Risk [Abstract]
Percent of megaplex theatre rental leased by AMC			31.00%
Rental revenue			$ 53,800	$ 42,600
Percentage of lease revenue in total revenue			10.20%	8.00%
Share Options [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation, future vesting period minimum (in years)			4 years
Stock-option expense			$ 7	$ 213
Restricted Stock [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation expense related to employees and trustees			$ 8,500	10,200
Restricted Stock [Member] | Minimum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation, future vesting period minimum (in years)			3 years
Restricted Stock [Member] | Maximum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation, future vesting period minimum (in years)			4 years
Restricted Share Units [Member] | Non-Employee Trustees [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation expense related to employees and trustees			$ 1,400	$ 931
Revolving Credit Facility [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Deferred Costs	$ 3,900		3,900		$ 5,000
triple-net lessor costs [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Recovery of Direct Costs			$ 5,800

Rental Properties (Summary Of C

Rental Properties (Summary Of Carrying Amounts Of Rental Properties) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Real Estate Properties [Line Items]
Carrying amounts of rental properties	$ 6,558,790		$ 5,907,231
Accumulated depreciation	(989,480)		(883,174)
Total	5,569,310		5,024,057
Depreciation expense on rental properties	123,000	$ 110,400
Building and improvements [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	5,074,504		4,593,159
Furniture, fixtures & equipment [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	126,659		97,463
Land [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	1,331,586		1,190,568
Leaseholds and Leasehold Improvements [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	$ 26,041		$ 26,041

Investments and Dispositions (D

Investments and Dispositions (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)mortgagenotes	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)mortgagenotes	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets			$ 684,700
Number Of Mortgage Notes Receivable | mortgagenotes	4		4
Payments to Acquire Mortgage Notes Receivable			$ 98,071	$ 27,719
Gain on sale of real estate	$ 14,303	$ 2,215	30,405	2,688
Proceeds from Sale and Collection of Mortgage Notes Receivable			207,125	$ 272,004
Proceeds from Maturities, Prepayments and Calls of Securities, Operating Activities			1,800
recreation and education properties [Member]
Real Estate Properties [Line Items]
Proceeds from Sale of Property, Plant, and Equipment			53,300
Gain on sale of real estate			2,100
Entertainment Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets			$ 440,400
Entertainment Reportable Operating Segment [Member] | Theatre Properties [Member]
Real Estate Properties [Line Items]
Number of properties acquired (in properties)			24
Payments to Acquire Productive Assets			$ 377,800
Recreation Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets			$ 190,600
Number Of Mortgage Notes Receivable	2		2
Number of properties securing mortgage			2
Payments to Acquire Mortgage Notes Receivable			$ 68,700
number of properties sold			1
number of land parcels sold			2
Recreation Reportable Operating Segment [Member] | Attraction Properties [Member]
Real Estate Properties [Line Items]
Number of properties acquired (in properties)			2
Payments to Acquire Productive Assets			$ 24,000
Proceeds from Sale and Collection of Mortgage Notes Receivable			189,800
Education Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets			$ 53,400
number of properties sold			7
Education Reportable Operating Segment [Member] | early education center [Member]
Real Estate Properties [Line Items]
Number of properties acquired (in properties)			2
Payments to Acquire Productive Assets			$ 5,900
Education Reportable Operating Segment [Member] | Public charter school properties [Member]
Real Estate Properties [Line Items]
number of properties sold			1
Proceeds from Sale of Property, Plant, and Equipment			$ 129,300
Gain on sale of real estate			28,300
Proceeds from Sale and Collection of Mortgage Notes Receivable			17,800
Other Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets			300
Adelaar Infrastructure [Member]
Real Estate Properties [Line Items]
Special Assessment Bond	$ 110,000		110,000
Reimbursement received from payment of economic development revenue bonds			$ 11,500		$ 74,200
Mortgage Receivable [Member] | Education Reportable Operating Segment [Member] | Public charter school properties [Member]
Real Estate Properties [Line Items]
number of properties sold			9

Accounts Receivable, Net (Sched

Accounts Receivable, Net (Schedule Of Accounts Receivable) (Details) - USD ($) $ in Thousands	Sep. 30, 2019		Dec. 31, 2018	Sep. 30, 2018
Revenue Bond Receivable	$ 0		$ 11,500
Straight-Line Rent Receivable	89,361	[1]	73,332
Total	99,190		98,369
Tenants [Member]
Total	4,523		12,158
Non-Tenants [Member]
Carrying amounts of accounts receivable	5,306		$ 1,379
Ground Lease Arrangement [Member]
Straight-Line Rent Receivable	24,454			$ 0
direct share purchase plan [Member]
Carrying amounts of accounts receivable	$ 3,400
[1]	At September 30, 2019 , includes $25.2 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.

Investments In Direct Financi_3

Investments In Direct Financing Lease (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)properties	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)yearsproperties	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)properties	Jul. 26, 2018USD ($)
Investment in direct financing leases, net	$ 20,727		$ 20,727		$ 20,558	$ 37,900
Capital Leases, Net Investment in Direct Financing Leases, Initial Direct Costs	300		300		300
gain on sale of investment in direct financing lease	$ 0	$ 5,514	$ 0	$ 5,514
Document Period End Date			Sep. 30, 2019
Future Minimum Rentals Receivable			The Company’s direct financing leases have expiration dates ranging from approximately 12 to 13 years. Future minimum rentals receivable on these direct financing leases at September 30, 2019 are as follows (in thousands): Amount Year: 2019 $ 572 2020 2,333 2021 2,403 2022 2,475 2023 2,550 Thereafter 24,326 Total $ 34,659
Imagine Schools Member
Proceeds from Sale of Finance Receivables					43,400
original acquisition cost					$ 31,600
Number of public charter school properties (in properties) | properties	2		2		2
number of properties sold					4
gain on sale of investment in direct financing lease					$ 5,500
Maximum [Member]
Length of lease (in years) | years			13

Investments In Direct Financi_4

Investments In Direct Financing Lease (Summary Of Carrying Amounts Of Investment In Direct Financing Lease, Net) (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2019USD ($)years	Dec. 31, 2018USD ($)	Jul. 26, 2018USD ($)
Document Period End Date		Sep. 30, 2019
Total minimum lease payments receivable		$ 34,659	$ 36,352
Estimated unguaranteed residual value of leased assets		16,509	16,509
Less deferred income	[1]	(30,441)	(32,303)
Investment in direct financing leases, net		20,727	20,558	$ 37,900
Capital Leases, Net Investment in Direct Financing Leases, Initial Direct Costs		$ 300	$ 300
Minimum [Member]
Length of lease (in years) | years		12
Maximum [Member]
Length of lease (in years) | years		13
[1]	Deferred income is net of $0.3 million of initial direct costs at September 30, 2019 and December 31, 2018 .

Investments In Direct Financi_5

Investments In Direct Financing Lease (Future Minimum Rentals Receivable) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
2019	$ 572
2020	2,333
2021	2,403
2022	2,475
2023	2,550
Thereafter	24,326
Total	$ 34,659	$ 36,352

Capital Markets (Details)

Capital Markets (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 30, 2019USD ($)shares	Sep. 30, 2019$ / sharesshares	Sep. 30, 2018	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)shares
Class of Stock [Line Items]
Common Shares, shares authorized | shares		15,000,000		15,000,000
Common Stock, Shares, Issued | shares		81,365,094		81,365,094		77,226,443
Net proceeds from issuance of common shares				$ 285,269,000	$ 734,000
Common Stock, Dividends, Per Share, Declared | $ / shares		$ 1.125		$ 3.375
Number of economic development bonds						$ 2
Common And Preferred Shares Disclosure [Text Block]				On June 3, 2019, the Company filed a shelf registration statement with the SEC, which is effective for a term of three years. The securities covered by this registration statement include common shares, preferred shares, debt securities, depositary shares, warrants, and units. The Company may periodically offer one of more of these securities in amounts, prices and on terms to be announced when and if these securities are offered. The specifics of any future offerings along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of any offering. Additionally, on June 3, 2019, the Company filed a shelf registration statement with the SEC, which is effective for a term of three years, for its DSPP which permits the issuance of up to 15,000,000 common shares. During the nine months ended September 30, 2019 , the Company issued an aggregate of 3,783,718 common shares under its DSPP for net proceeds of $288.9 million . Subsequent to September 30, 2019, the Company issued 219 thousand common shares under this plan for net proceeds of $16.7 million . The Company declared regular monthly cash dividends on its common shares during the three and nine months ended September 30, 2019 totaling $1.125 and $3.375 per common share, respectively. During the three and nine months ended September 30, 2019 , the Company also declared cash dividends of $0.359375 and $1.078125 per share, respectively, on its 5.75% Series C cumulative convertible preferred shares, $0.5625 and $1.6875 per share, respectively, on its 9.00% Series E cumulative convertible preferred shares and $0.359375 and $1.078125 per share, respectively, on its 5.75% Series G cumulative redeemable preferred shares.
shelf registration effective term				3
Series C Preferred Shares [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared | $ / shares		$ 0.359375		$ 1.078125
Preferred Stock, Dividend Rate, Percentage		5.75%	5.75%	5.75%
Series E Preferred Shares [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared | $ / shares		$ 0.5625		$ 1.6875
Preferred Stock, Dividend Rate, Percentage		9.00%	9.00%	9.00%	9.00%
Series G Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared | $ / shares		$ 0.359375		$ 1.078125
Preferred Stock, Dividend Rate, Percentage				5.75%
direct share purchase plan [Member]
Class of Stock [Line Items]
Common Stock, Shares, Issued | shares		3,783,718		3,783,718
Net proceeds from issuance of common shares				$ 288,900,000
Subsequent Event [Member] | direct share purchase plan [Member]
Class of Stock [Line Items]
Common Stock, Shares, Issued | shares	219,000
Net proceeds from issuance of common shares	$ 16,700,000
Louisiana Theatre Properties [Member]
Class of Stock [Line Items]
Amounts paid on economic revenue bonds				$ 24,800,000

Capital Markets Debt (Details)

Capital Markets Debt (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Costs associated with loan refinancing or payoff	$ 38,407	$ 0	$ 38,407	$ 31,958
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Covenants, Unencumbered Assets	150.00%		150.00%
Debt Covenants, Debt Service Coverage Ratio	1.5		1.5
Debt Covenants, Debt to Adjusted Total Assets	60.00%		60.00%
Debt Covenants, Secured Debt to Adjusted Total Assets	40.00%		40.00%
Unsecured Debt [Member] | Senior unsecured note payable, 3.75 percent, due August 15, 2029 [Member]
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.75%		3.75%
Senior unsecured note payable, percentage of principal amount issued	99.168%		99.168%
Debt Instrument, Face Amount	$ 500,000		$ 500,000
Unsecured Debt [Member] | Senior unsecured note payable, 5.75 percent, due August 15, 2022 [Member]
Debt Instrument [Line Items]
Principal amount of debt tendered			$ 219,400
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	5.75%		5.75%
Debt Instrument, Face Amount	$ 350,000		$ 350,000
Debt Instrument, Unamortized Premium	38,300		38,300
Debt Instrument, Increase, Accrued Interest			600
Costs associated with loan refinancing or payoff			1,400
Debt Tendered [Member] | Unsecured Debt [Member] | Senior unsecured note payable, 5.75 percent, due August 15, 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Premium	23,600		23,600
Debt Redeemed [Member] | Unsecured Debt [Member] | Senior unsecured note payable, 5.75 percent, due August 15, 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Premium	$ 13,300		$ 13,300

Unconsolidated Real Estate Jo_2

Unconsolidated Real Estate Joint Ventures (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)properties	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)properties	Sep. 30, 2018USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in income from joint ventures	$ (435,000)	$ 20,000	$ 524,000	$ (17,000)
Proceeds from Equity Method Investment, Distribution			112,000	567,000
St. Petersburg Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income from joint ventures			700,000	0
Proceeds from Equity Method Investment, Distribution			$ 0
Equity Method Investment, Ownership Percentage	65.00%		65.00%
Equity Method Investment, Partner's Ownership Percentage	35.00%		35.00%
Number of unconsolidated real estate joint ventures | properties	2		2
Carrying Amount Joint Venture Mortgage Loan	$ 61,200,000		$ 61,200,000		$ 60,000,000
Remaining Availability Joint Venture Mortgage Loan	23,800,000		23,800,000
Long Term Funding Commitment For Project Development	$ 24,300,000		$ 24,300,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	6.00%		6.00%
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	3.75%		3.75%
Maximum Availability Joint Venture Mortgage Loan	$ 85,000,000		$ 85,000,000
Theatre Project China Member
Schedule of Equity Method Investments [Line Items]
Equity in income from joint ventures			140,000	17,000
Proceeds from Equity Method Investment, Distribution			112,000	$ 567,000
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures	$ 4,700,000		$ 4,700,000			$ 4,900,000
Number of unconsolidated real estate joint ventures | properties	3		3
Recreation Reportable Operating Segment [Member] | Recreation Anchored Lodging [Member] | St. Petersburg Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures	$ 30,500,000		$ 30,500,000			$ 29,500,000
Interest Rate Swap [Member] | St. Petersburg Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Derivative, Fixed Interest Rate	3.00%		3.00%

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) $ in Millions	Sep. 30, 2019USD ($)
Investment In Unconsolidated Variable Interest Entities	$ 4.2
Unconsolidated investment maximum exposure to loss	$ 4.2
Education Property Member | Education Reportable Operating Segment [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Number of Real Estate Properties	1
St. Petersburg Joint Venture [Member]
Long Term Funding Commitment For Project Development	$ 24.3
St. Petersburg Joint Venture [Member] | Recreation Anchored Lodging [Member]
Number of properties securing unconsolidated variable interest entity	2

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019CAD ($)	Dec. 31, 2018USD ($)
credit risk related contingent features default on debt amount		$ 50
Derivative Liability, Fair Value, Gross Liability	$ 6,000,000		$ 0
Derivative Asset, Fair Value, Gross Asset	$ 3,600,000		$ 10,600,000
Number of entered into interest rate swap agreements (in interest rate swaps)	4	4
Derivative, Notional Amount	$ 25,000,000
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	4,100,000
Net Investment Hedging [Member]
Derivative, Notional Amount	200
Cash Flow Hedging [Member]
Estimated amount to be reclassified from accumulated other comprehensive income to other expense in the next twelve months	400,000
Interest Rate Swap [Member]
Derivative, Notional Amount	400,000,000
Interest Rate Risk [Member]
Estimated amount to be reclassified from accumulated other comprehensive income to other expense in the next twelve months	1,700,000
Cross Currency Swaps 2020 [Member]
Derivative, Notional Amount	$ 79,500,000	$ 100
Net exchange rate, CAD to US dollar	1.26	1.26
Foreign currency exposure	$ 13,500,000
Currency Forward Agreements [Member]
Number of Canadian properties exposed to foreign currency exchange risk (in properties)	4
Cross Currency Swap 2023 [Member] | Net Investment Hedging [Member]
Derivative, Notional Amount	$ 100
Net exchange rate, CAD to US dollar	1.32	1.32
Foreign currency exposure	$ 4,500,000
interest rate swap 3.1580 percent [Member] | Interest Rate Swap [Member]
Derivative fixed interest rate	3.158%	3.158%
Derivative, Notional Amount	$ 116,600,000
interest rate swap 3.1575 percent [Member] | Interest Rate Swap [Member]
Derivative fixed interest rate	3.1575%	3.1575%
Derivative, Notional Amount	$ 116,700,000
interest rate swap 3.1450 percent [Member] | Interest Rate Swap [Member]
Derivative fixed interest rate	3.145%	3.145%
Derivative, Notional Amount	$ 116,700,000
interest rate swap 3.35 percent [Member] | Interest Rate Swap [Member]
Derivative fixed interest rate	3.345%	3.345%
Derivative, Notional Amount	$ 50,000,000
interest rate swap 1.3925 percent [Member] | Interest Rate Swap [Member]
Derivative fixed interest rate	1.3925%	1.3925%
Derivative, Notional Amount	$ 25,000,000

Derivative Instruments (Summary

Derivative Instruments (Summary Of The Effect Of Derivative Instruments On The Consolidated Statements Of Changes In Equity And Income) (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2019		Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		$ 2,061		$ (1,019)	$ (11,163)	$ 14,900
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		139		124	423	124
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)		309		524	1,778	1,961
Interest Expense		36,640		33,576	106,744	101,992
Other Income		11,464		365	17,534	1,641
Interest Rate Swap [Member]
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	[1]	174		433	1,352	695
Cross Currency Swaps [Member]
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		134		(294)	(342)	767
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	[2]	135		91	426	1,266
Cross Currency Swap 2023 [Member]
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		3,033		(2,164)	(1,863)	(2,755)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	[2]	139	[3]	124	423	124
Currency Forward Agreements [Member]
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		0		5	0	8,560
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	[2]	0		0	0	0
Interest Expense [Member] | Interest Rate Swap [Member]
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		$ (1,106)		$ 1,434	$ (8,958)	$ 8,328
[1]	Included in "Interest expense, net" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 .
[2]	Included in "Other income" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 .
[3]	Amounts represent derivative gains excluded from the effectiveness testing.

Fair Value Disclosures (Assets

Fair Value Disclosures (Assets and Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018	Jul. 26, 2018
Long-term Debt		$ 3,101,611	$ 2,986,054
Net Investment in Direct Financing and Sales Type Leases		20,727	20,558	$ 37,900
Derivative Asset, Fair Value, Gross Asset		3,600	10,600
Derivative Liability, Fair Value, Gross Liability		6,000	0
Fair Value, Recurring [Member] | Cross Currency Swaps [Member]
Derivative Asset, Fair Value, Gross Asset	[1]	3,646	6,278
Fair Value, Recurring [Member] | Cross Currency Swaps [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Asset, Fair Value, Gross Asset	[1]	3,646	6,278
Fair Value, Recurring [Member] | Interest Rate Swap [Member]
Derivative Asset, Fair Value, Gross Asset	[1]		(4,344)
Derivative Liability, Fair Value, Gross Liability	[2]	5,966
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Asset, Fair Value, Gross Asset	[1]		(4,344)
Derivative Liability, Fair Value, Gross Liability	[2]	5,966
Imagine Schools Remaining in DFL [Member]
Net Investment in Direct Financing and Sales Type Leases		20,700	20,600
Variable Rate Converted to Fixed Rate [Member]
Long-term Debt		$ 425,000	$ 350,000
[1]	Included in "Other assets" in the accompanying consolidated balance sheets.
[2]	Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets.

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Jul. 26, 2018
Mortgage notes and related accrued interest receivable	$ 413,695	$ 517,467
Investment in direct financing leases, net	$ 20,727	$ 20,558	$ 37,900
Finance lease investment weighted average interest rate	12.04%	12.04%
Minimum interest on investments in direct finance lease	11.93%	11.93%
Maximum interest on investments in direct finance lease	12.38%	12.38%
Debt	$ 3,101,611	$ 2,986,054
Fixed Rate Mortgage Notes Receivable [Member]
Mortgage notes and related accrued interest receivable	$ 413,700	$ 517,500
Weighted average interest rate of mortgage notes receivable	8.92%	8.67%
Receivable interest rate minimum	7.00%	7.00%
Receivable interest rate maximum	11.61%	11.43%
Weighted market rate used for determining future cash flow for notes receivable	7.92%	8.68%
Fair value of notes receivable	$ 453,800	$ 544,600
Variable Rate Debt [Member]
Debt	$ 425,000	$ 455,000
Long-term debt, weighted average interest rate	3.13%	2.84%
Variable Rate Converted to Fixed Rate [Member]
Debt	$ 425,000	$ 350,000
Fixed Rate Debt [Member]
Debt	$ 2,720,000	$ 2,570,000
Long-term debt, weighted average interest rate	4.54%	4.86%
Weighted market rate for determining fair value of debt	3.66%	4.69%
Long-term Debt, Fair Value	$ 2,850,000	$ 2,570,000
Minimum [Member] | Fixed Rate Mortgage Notes Receivable [Member]
market rate used as discount factor to determine fair value of notes	7.00%	7.50%
Minimum [Member] | Fixed Rate Debt [Member]
market rate used as discount factor to determine fair value of debt	3.11%	3.48%
Maximum [Member] | Fixed Rate Mortgage Notes Receivable [Member]
market rate used as discount factor to determine fair value of notes	9.50%	10.00%
Maximum [Member] | Fixed Rate Debt [Member]
market rate used as discount factor to determine fair value of debt	4.56%	4.99%
Imagine Schools Member
Investment in direct financing leases, net	$ 20,700	$ 20,600

Earnings Per Share (Computation

Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Basic EPS:
Income from continuing operations	$ 34,003	$ 91,833	$ 165,946	$ 212,952
Less: preferred dividend requirements	(6,034)	(6,036)	(18,102)	(18,108)
Net income available to common shareholders of EPR Properties	$ 27,969	$ 85,797	$ 147,844	$ 194,844
Weighted average number of shares outstanding, basic	77,632	74,345	76,169	74,274
Net income available to common shareholders (in dollars per share)	$ 0.36	$ 1.15	$ 1.94	$ 2.62
Diluted EPS:
Share options (in shares)	32	59	38	42
Weighted average number of shares outstanding, diluted	77,664	74,404	76,207	74,316
Net income available to common shareholders, diluted	$ 27,969	$ 85,797	$ 147,844	$ 194,844
Net income available to common shareholders (in dollars per share)	$ 0.36	$ 1.15	$ 1.94	$ 2.62

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Series C Preferred Shares [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	2,200	2,100	2,200	2,100
Preferred Stock, Dividend Rate, Percentage	5.75%	5.75%	5.75%
Series E Preferred Shares [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	1,600	1,600	1,600	1,600
Preferred Stock, Dividend Rate, Percentage	9.00%	9.00%	9.00%	9.00%
Share Options [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	4	4	4	80
Minimum [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 73.84	$ 61.79	$ 73.84	$ 61.79
Maximum [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 76.63	$ 76.63	$ 76.63	$ 76.63

Equity Incentive Plans (Summary

Equity Incentive Plans (Summary Of Share Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	May 12, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	118,786
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 48.71
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	112,106
Maximum term of options granted (in years)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at Beginning of Period	234,875
Number of Shares, Granted	1,941
Number of Shares, Outstanding at End of Period	118,030
Average Exercise Price, Outstanding at Beginning of Period	$ 55.63		$ 51.98
Average Exercise Price, Outstanding at End of Period	55.63		51.98
Weighted average fair value of options granted	$ 4.64	$ 3.03
Intrinsic value of stock options exercised	$ 2,800	$ 100
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 73.84
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 55.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 2,442
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Price Per Share	$ 19.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	44.62		19.02
Option Price Per Share, Outstanding at End of Period	44.62		19.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Price Per Share	73.84
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Price Per Share	61.79
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	76.63		76.63
Option Price Per Share, Outstanding at End of Period	76.63		$ 76.63
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Price Per Share	$ 73.84
Share Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Stock-option expense	$ 7	$ 213
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	2.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	19.10%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Forfeiture Rate	0.75%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years
Share Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	6.70%
2016 Equity Incentive Plan [Member]
Common shares, options to purchase common shares and restricted share units, expected to granted (in shares)				1,950,000
Number of shares available for grant (in shares)	1,091,880
Forty Four Point Sixty Two To Forty Nine Point Nine Nine [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	2 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	31,445
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	31,445
Fifty To Fifty Nine Point Nine Nine Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 9 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	28,834
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	31,710
Sixty To Sixty Five Point Five Zero Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	50,719
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	50,719
Seventy To Seventy Six Point Six Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	7 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	1,108
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	4,156

Equity Incentive Plans (Summa_2

Equity Incentive Plans (Summary Of Outstanding Options) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	112,106		112,106
Options outstanding (in shares)	118,030		118,030		234,875
Weighted avg. life remaining (in years)			4 years 6 months
Weighted avg. exercise price	$ 55.63		$ 55.63		$ 51.98
Aggregate intrinsic value	$ 2,505		$ 2,505
Share Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			19.10%
Minimum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 73.84	$ 61.79	$ 73.84	$ 61.79
Minimum [Member] | Share Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			6.70%
Maximum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 76.63	$ 76.63	$ 76.63	$ 76.63
Forty Four Point Sixty Two To Forty Nine Point Nine Nine [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	31,445		31,445
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit			$ 44.62
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit			$ 49.99
Options outstanding (in shares)	31,445		31,445
Weighted avg. life remaining (in years)			2 years 3 months 18 days
Fifty To Fifty Nine Point Nine Nine Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	28,834		28,834
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit			$ 50
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit			$ 59.99
Options outstanding (in shares)	31,710		31,710
Weighted avg. life remaining (in years)			4 years 9 months 18 days
Sixty To Sixty Five Point Five Zero Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	50,719		50,719
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit			$ 60
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit			$ 69.99
Options outstanding (in shares)	50,719		50,719
Weighted avg. life remaining (in years)			5 years 4 months 24 days
Seventy To Seventy Six Point Six Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	1,108		1,108
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit			$ 70
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit			$ 76.63
Options outstanding (in shares)	4,156		4,156
Weighted avg. life remaining (in years)			8 years 3 months 18 days

Equity Incentive Plans (Summa_3

Equity Incentive Plans (Summary Of Exercisable Options) (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Options outstanding (in shares) | shares	112,106
Weighted avg. life remaining (in years)	4 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 55.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $	$ 2,442
Forty Four Point Sixty Two To Forty Nine Point Nine Nine [Member]
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 44.62
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 49.99
Options outstanding (in shares) | shares	31,445
Weighted avg. life remaining (in years)	2 years 3 months 18 days
Fifty To Fifty Nine Point Nine Nine Member
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 50
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 59.99
Options outstanding (in shares) | shares	28,834
Weighted avg. life remaining (in years)	4 years 4 months 24 days
Sixty To Sixty Five Point Five Zero Member
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 60
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 69.99
Options outstanding (in shares) | shares	50,719
Weighted avg. life remaining (in years)	5 years 4 months 24 days
Seventy To Seventy Six Point Six Three [Member]
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 70
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 76.63
Options outstanding (in shares) | shares	1,108
Weighted avg. life remaining (in years)	7 years 4 months 24 days

Equity Incentive Plans (Summa_4

Equity Incentive Plans (Summary Of Nonvested Share Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value			$ 66.38
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2018		655,056	655,056
Number of Shares, Vested			(346,145)
Number of Shares, Outstanding at September 30, 2019	509,338		509,338
Number of Shares, Granted			208,755
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2018		$ 64.16	$ 64.16
Weighted Average Grant Date Fair Value, Granted			74.13
Weighted Average Grant Date Fair Value, Vested			64.66
Weighted Average Grant Date Fair Value, Outstanding at September 30, 2019	$ 67.88		$ 67.88
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period			8,328
Weighted Average Life Remaining, Outstanding at September 30, 2019 (in years)			1 year 1 month 9 days
Fair value of non-vested shares			$ 22,700	$ 16,000
share based compensation included in severance expense	$ 418	$ 103	4,900
Unamortized share-based compensation expense	$ 18,200		$ 18,200

Equity Incentive Plans (Summa_5

Equity Incentive Plans (Summary Of Restricted Share Unit Activity) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2018 | shares	655,056
Number of Shares, Granted | shares	208,755
Number of Shares, Vested | shares	(346,145)
Number of Shares, Outstanding at September 30, 2019 | shares	509,338
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2018 | $ / shares	$ 64.16
Weighted Average Grant Date Fair Value, Granted | $ / shares	74.13
Weighted Average Grant Date Fair Value, Vested | $ / shares	64.66
Weighted Average Grant Date Fair Value, Outstanding at September 30, 2019 | $ / shares	$ 67.88
Unamortized share-based compensation expense | $	$ 18.2
Weighted Average Life Remaining, Outstanding at September 30, 2019 (in years)	1 year 1 month 9 days
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2018 | shares	23,571
Number of Shares, Granted | shares	27,392
Number of Shares, Vested | shares	(24,727)
Number of Shares, Outstanding at September 30, 2019 | shares	26,236
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2018 | $ / shares	$ 61.25
Weighted Average Grant Date Fair Value, Granted | $ / shares	77.19
Weighted Average Grant Date Fair Value, Vested | $ / shares	61.62
Weighted Average Grant Date Fair Value, Outstanding at September 30, 2019 | $ / shares	$ 77.54
Unamortized share-based compensation expense | $	$ 1.4
Weighted Average Life Remaining, Outstanding at September 30, 2019 (in years)	20 days

Other Commitments And Conting_2

Other Commitments And Contingencies (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)mortgagenotes	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)mortgagenotes	Sep. 30, 2018USD ($)	Oct. 25, 2019	Dec. 31, 2018USD ($)
Other Commitment	$ 60,200,000		$ 60,200,000
Development projects in process (in projects)	9		9
Gain (Loss) Related to Litigation Settlement	$ 0	$ 0	$ 0	$ (2,090,000)
Deferred liabilities related to guarantee						$ 16,100,000
Number of economic development bonds						2
Number of Surety Bonds	3		3
Surety bonds	$ 30,400,000		$ 30,400,000
Number Of Mortgage Notes Receivable | mortgagenotes	4		4
Mortgage Note and Notes Receivable Commitments	$ 11,900,000		$ 11,900,000
Transaction costs	5,959,000	$ 1,101,000	18,005,000	$ 2,115,000
Entertainment Reportable Operating Segment [Member]
Other Commitment	$ 31,200,000		$ 31,200,000
Development projects in process (in projects)	6		6
recreationproperties [Member]
Other Commitment	$ 25,100,000		$ 25,100,000
Development projects in process (in projects)	2		2
Education Property Member
Other Commitment	$ 3,900,000		$ 3,900,000
Development projects in process (in projects)	1		1
Louisiana Theatre Properties [Member]
Deferred assets related to guarantee						$ 5,300,000
Gain (Loss) Related to Litigation Settlement			$ 0
Amounts paid on economic revenue bonds			24,800,000
Guarantor Obligations, Collateral Held Directly or by Third Parties			14,000,000
Children's Learning Adventure USA, LLC [Member]
Payments to Acquire Furniture and Fixtures			$ 2,600,000
Property Subject to or Available for Operating Lease, Number of Units	21		21
Settlement Consideration	$ 9,200,000		$ 9,200,000
Triple net lease term	20		20
Number of Properties Transferred	13		13
Transaction costs			$ 6,600,000
Subsequent Event [Member] | Children's Learning Adventure USA, LLC [Member]
Number of Properties Transferred					4
Total number of properties transferred					17
Remaining number of properties to transfer					4

Segment Information Balance She

Segment Information Balance Sheet Data (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)segment	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Operating Segments | segment	4
Total Assets	$ 6,633,290	$ 6,131,390
Entertainment Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	2,829,477	2,344,855
Recreation Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	2,233,445	2,187,808
Education Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	1,243,761	1,366,278
Other Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	195,217	207,724
Corporate / Unallocated
Segment Reporting Information [Line Items]
Total Assets	$ 131,390	$ 24,725

Segment Information Operating D

Segment Information Operating Data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Rental revenue	$ 161,262	$ 140,905	$ 469,315	$ 410,848
Other income	11,464	365	17,534	1,641
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	12,136	35,139	38,253	121,755
Revenues	184,862	176,409	525,102	534,244
Property operating expense	14,663	6,968	45,227	21,866
Other expense	11,403	118	19,494	118
Total investment expenses	26,066	7,086	64,721	21,984
Net Operating Income - Before Unallocated Items	158,796	169,323	460,381	512,260
Reconciliation to Consolidated Statements of Income:
General and administrative expense	(11,600)	(11,424)	(35,540)	(36,724)
Severance Costs	(1,521)	0	(1,941)	0
Gain (Loss) Related to Litigation Settlement	0	0	0	(2,090)
Costs associated with loan refinancing	(38,407)	0	(38,407)	(31,958)
Interest expense, net	(36,640)	(33,576)	(106,744)	(101,992)
Transaction costs	(5,959)	(1,101)	(18,005)	(2,115)
Asset Impairment Charges	0	0	0	(16,548)
Depreciation and amortization	(45,134)	(38,623)	(127,232)	(113,889)
Equity in income from joint ventures	(435)	20	524	(17)
Gain on sale of real estate	14,303	2,215	30,405	2,688
gain on sale of investment in direct financing lease	0	5,514	0	5,514
Income tax benefit (expense)	600	(515)	2,505	(2,177)
Net income attributable to EPR Properties	34,003	91,833	165,946	212,952
Preferred dividend requirements	(6,034)	(6,036)	(18,102)	(18,108)
Net Income (Loss) Available to Common Stockholders, Basic	27,969	85,797	147,844	194,844
Entertainment Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	87,720	75,552	251,951	225,040
Other income	1,202	143	2,787	147
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	382	612	545	3,514
Revenues	89,304	76,307	255,283	228,701
Property operating expense	9,497	5,917	29,993	17,962
Other expense	864	0	1,893	0
Total investment expenses	10,361	5,917	31,886	17,962
Net Operating Income - Before Unallocated Items	78,943	70,390	223,397	210,739
Recreation Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	42,784	36,215	126,199	104,090
Other income	9,988	0	13,897	62
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	6,238	29,678	24,204	100,923
Revenues	59,010	65,893	164,300	205,075
Property operating expense	2,843	34	8,306	91
Other expense	10,539	118	17,601	118
Total investment expenses	13,382	152	25,907	209
Net Operating Income - Before Unallocated Items	45,628	65,741	138,393	204,866
Education Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	27,643	26,851	82,409	74,885
Other income	0	0	0	0
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	5,516	4,849	13,504	17,318
Revenues	33,159	31,700	95,913	92,203
Property operating expense	1,107	407	3,275	1,880
Other expense	0	0	0	0
Total investment expenses	1,107	407	3,275	1,880
Net Operating Income - Before Unallocated Items	32,052	31,293	92,638	90,323
Other Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	3,115	2,287	8,756	6,833
Other income	0	0	0	0
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	0	0	0	0
Revenues	3,115	2,287	8,756	6,833
Property operating expense	997	449	2,974	1,452
Other expense	0	0	0	0
Total investment expenses	997	449	2,974	1,452
Net Operating Income - Before Unallocated Items	2,118	1,838	5,782	5,381
Corporate / Unallocated
Segment Reporting Information [Line Items]
Rental revenue	0	0	0	0
Other income	274	222	850	1,432
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	0	0	0	0
Revenues	274	222	850	1,432
Property operating expense	219	161	679	481
Other expense	0	0	0	0
Total investment expenses	219	161	679	481
Net Operating Income - Before Unallocated Items	$ 55	$ 61	$ 171	$ 951

Operating Leases (Details)

Operating Leases (Details) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2019USD ($)		Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)		Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Property Subject to or Available for Operating Lease [Line Items]
Document Period End Date					Sep. 30, 2019
Property operating expense		$ 14,663		$ 6,968	$ 45,227		$ 21,866
Operating Lease, Right-of-Use Asset		$ 219,459			$ 219,459			$ 0
Number of Properties Subject to Ground Leases		58			58
General and Administrative Expense		$ 11,600		11,424	$ 35,540		36,724
Operating Leases, Income Statement, Lease Revenue		(161,262)		(140,905)	(469,315)		(410,848)
Lease, Cost		702			1,603
Straight-Line Rent Receivable		89,361	[1]		89,361	[1]		73,332
Total Operating Leased Assets		244,642			244,642
Operating Lease, Liability		244,358			244,358			0
Operating Leases, Future Minimum Payments Receivable, Current		147,765			147,765
Operating Leases, Future Minimum Payments Receivable, in Two Years		580,865			580,865
Operating Leases, Future Minimum Payments Receivable, in Three Years		570,915			570,915
Operating Leases, Future Minimum Payments Receivable, in Four Years		557,224			557,224
Operating Leases, Future Minimum Payments Receivable, in Five Years		529,256			529,256
Operating Leases, Future Minimum Payments Receivable, Thereafter		4,895,736			4,895,736
Operating Leases, Future Minimum Payments Receivable		7,281,761			7,281,761
Ground Lease Arrangement [Member]
Property Subject to or Available for Operating Lease [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	[2]	141,626			141,626			520,139	[3]
Operating Leases, Future Minimum Payments Receivable, in Two Years	[2]	556,890			556,890			503,344	[3]
Operating Leases, Future Minimum Payments Receivable, in Three Years	[2]	546,544			546,544			492,165	[3]
Operating Leases, Future Minimum Payments Receivable, in Four Years	[2]	533,426			533,426			477,671	[3]
Operating Leases, Future Minimum Payments Receivable, in Five Years	[2]	506,118			506,118			449,686	[3]
Operating Leases, Future Minimum Payments Receivable, Thereafter	[2]	4,641,759			4,641,759			3,953,717	[3]
Operating Leases, Future Minimum Payments Receivable	[2]	$ 6,926,363			$ 6,926,363			6,396,722	[3]
Ground Lease Arrangement [Member]
Property Subject to or Available for Operating Lease [Line Items]
Operating Lease, Weighted Average Remaining Lease Term		16 years 9 months 18 days			16 years 9 months 18 days
Property operating expense		$ 6,407			$ 18,410
Operating Lease, Right-of-Use Asset		214,106			214,106
Receivable with Imputed Interest, Discount	[4]	137,368			137,368
Operating Lease, Liability	[4]	$ 238,796			$ 238,796
Operating Lease, Weighted Average Discount Rate, Percent		4.95%			4.95%
Operating Leases, Future Minimum Payments Due, Next Twelve Months		$ 6,345	[4]		$ 6,345	[4]		22,867	[5]
Operating Leases, Future Minimum Payments, Due in Two Years		24,592	[4]		24,592	[4]		23,236	[5]
Operating Leases, Future Minimum Payments, Due in Three Years		25,036	[4]		25,036	[4]		23,600	[5]
Operating Leases, Future Minimum Payments, Due in Four Years		24,468	[4]		24,468	[4]		22,996	[5]
Operating Leases, Future Minimum Payments, Due in Five Years		23,812	[4]		23,812	[4]		22,303	[5]
Operating Leases, Future Minimum Payments, Due Thereafter		271,911	[4]		271,911	[4]		257,446	[5]
Operating Leases, Future Minimum Payments Due		376,164	[4]		376,164	[4]		372,448	[5]
Operating Leases, Future Minimum Payments Receivable, Current	[2]	6,139			6,139
Operating Leases, Future Minimum Payments Receivable, in Two Years	[2]	23,975			23,975
Operating Leases, Future Minimum Payments Receivable, in Three Years	[2]	24,371			24,371
Operating Leases, Future Minimum Payments Receivable, in Four Years	[2]	23,798			23,798
Operating Leases, Future Minimum Payments Receivable, in Five Years	[2]	23,138			23,138
Operating Leases, Future Minimum Payments Receivable, Thereafter	[2]	253,977			253,977
Operating Leases, Future Minimum Payments Receivable	[2]	$ 355,398			$ 355,398
Office Lease [Member]
Property Subject to or Available for Operating Lease [Line Items]
Operating Lease, Weighted Average Remaining Lease Term		7 years			7 years
Operating Lease, Right-of-Use Asset		$ 5,353			$ 5,353
General and Administrative Expense		226			682
Receivable with Imputed Interest, Discount	[6]	984			984
Operating Lease, Liability	[6]	$ 5,562			$ 5,562
Operating Lease, Weighted Average Discount Rate, Percent		4.62%			4.62%
Operating Leases, Future Minimum Payments Due, Next Twelve Months	[6]	$ 214			$ 214			856	[5]
Operating Leases, Future Minimum Payments, Due in Two Years	[6]	856			856			856	[5]
Operating Leases, Future Minimum Payments, Due in Three Years	[6]	884			884			884	[5]
Operating Leases, Future Minimum Payments, Due in Four Years	[6]	967			967			967	[5]
Operating Leases, Future Minimum Payments, Due in Five Years	[6]	967			967			967	[5]
Operating Leases, Future Minimum Payments, Due Thereafter	[6]	2,658			2,658			2,658	[5]
Operating Leases, Future Minimum Payments Due	[6]	6,546			6,546			$ 7,188	[5]
sublease [Member]
Property Subject to or Available for Operating Lease [Line Items]
Operating Leases, Income Statement, Lease Revenue		$ (5,931)			$ (17,489)
Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Lessee, Operating Lease, Term of Contract		1 year			1 year
Minimum [Member] | Ground Lease Arrangement [Member]
Property Subject to or Available for Operating Lease [Line Items]
Lessee, Operating Lease, Term of Contract		2 years			2 years
Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Lessee, Operating Lease, Term of Contract		30 years			30 years
Maximum [Member] | Ground Lease Arrangement [Member]
Property Subject to or Available for Operating Lease [Line Items]
Lessee, Operating Lease, Term of Contract		47 years			47 years
Ground Lease Arrangement [Member]
Property Subject to or Available for Operating Lease [Line Items]
Straight-Line Rent Receivable		$ 24,454		$ 0	$ 24,454		$ 0
Ground Lease Arrangement [Member] | sub-lessor [Member]
Property Subject to or Available for Operating Lease [Line Items]
Straight-Line Rent Receivable		$ 25,183			$ 25,183
[1]	At September 30, 2019 , includes $25.2 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.
[2]	Included in rental revenue.
[3]	Balances as of December 31, 2018 are prior to the adoption of Topic 842.
[4]	Included in property operating expense.
[5]	Balances as of December 31, 2018 are prior to the adoption of Topic 842.
[6]	Included in general and administrative expense.

Uncategorized Items - epr930201

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 58,986,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 18,507,000