FCPT Q2 rental revenue up 13.6% to $47.9M; AFFO $0.41/share

Four Corners Property Trust, Inc.

2022-Q2 EPS reported $0.63 revenue$109,822,000

Net income $28.1M ($0.35 diluted EPS); NAREIT FFO $0.40, AFFO $0.41 per diluted share.
Acquired 26 properties for $54.0M at 6.4% initial cash yield; sold 3 properties for $12.8M.
Rent collections 99.9%; portfolio 99.9% occupied; weighted avg lease term 8.8 years.
Received Moody's Baa3 investment grade rating; saves >$1M annual interest expense.
Leverage 5.7x net debt/EBITDAre; $267.7M liquidity including $250M undrawn revolver.

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