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Curious price action captures Cramer’s attention

Shares rallied into earnings and then declined immediately thereafter. Yet Cramer says there was no reason for either the advance or the decline.

"Usually I don't ask CEOs about the action in a stock but this was nutty. Shares of EPR Properties went up big the day before and then down big, after," Cramer said as he bridged the issue with CEO David Brain.




"I have no explanation," Brain replied. "The company's stock ran up big in the final half hour, the day before our announcement. Then it came down the next day. It looked like a reaction to earnings but really it's very much in-line with the 30-day and 60-day averages."

Cramer went on to say there were no real surprises in the release. "There was nothing to move the stock."

The only explanation Cramer can think of involves volume. When a stock trades on somewhat light volume, it can make exaggerated swings. But those swings don't reflect anything more than imperfections in the market.




Adam Jeffery | CNBC

Therefore, with a yield of 6.1 percent, Cramer thinks that investors who are seeking yield should take a look at ENR Properties in the wake of the decline.

Quarterly results, which were released last week, were solid. For the three months that ended June 30, EPR said revenue increased to $91.8 million from $83 million in the second quarter last year. Net income climbed to $34.8 million in the quarter, compared with $26.5 million for the same period in 2013.

"There were just no surprises here," Cramer said. "Sometimes imperfections in the market can create opportunity. If you're looking for yield, this is definitely an opportunity."

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EPR, formerly known Entertainment Properties Trust, symbol EPR, is a real estate investment trust that owns megaplex movie theatres and adjacent properties, from retail centers to charter schools.

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