EPR Properties (NYSE:EPR) is a specialty real estate investment trust (REIT) that currently invests in three primary segments: Entertainment, Recreation and Education. We focus on the white space that exists between traditional REITs that are either highly diversified or highly specialized. EPR Properties maintains a specialized orientation complemented by diversification across and within segments. Our strategy of investing in a limited number of segments allows us to focus our attention and develop greater depth of knowledge in our chosen segments but still enjoy some benefits of portfolio diversity.