Entertainment REIT in Trouble at School

The real-estate investment trust, which is known mainly as a landlord to movie theaters and owns 112 of them in 35 states, began expanding into the education business five years ago by buying or building charter schools. The company now owns 37 charter-school buildings, most of which are managed by Imagine Schools, one of the nation’s largest for-profit charter-school operators.

But the investment into charter schools has gotten bad marks of late. In the past few months, Imagine lost its contracts to manage seven schools …