FCPT Q3 2022: rental revenue $48.7M, AFFO $0.41/share, $69.9M in acquisitions

Four Corners Property Trust, Inc.

2022-Q3 EPS reported $0.92 revenue$165,830,000

Rental revenue up 11.4% to $48.7M; net income $24.5M ($0.30 diluted) vs. $21.2M in Q3 2021.
NAREIT FFO per diluted share $0.40, AFFO per share $0.41, both up $0.01 and $0.02 YoY respectively.
Acquired 26 properties for $69.9M at 6.3% initial cash yield; sold 4 for $8.6M with $1.8M gain.
Raised $78.9M equity via ATM at $28.09 avg.; $358M liquidity including $71M from forward sales.
Dividend declared $0.3325 per share; portfolio 99.9% occupied with 8.6-year avg. lease term.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Four Corners Property Trust, Inc. reported the three months ended September 30, 2022 results: revenue $48.7 million, net income $24.5 million, EPS $0.30 per diluted share.

Period: the three months ended September 30, 2022
Revenue: $48.7 million
Net income: $24.5 million
EPS: $0.30 per diluted share
Result: preliminary results

Exact text from the filing

30, 2022. Financial Results Rental Revenue and Net Income Attributable to Common Shareholders • Rental revenue for the third quarter increased 11.4% over the prior year to $48.7 million. Rental revenue consisted of $47.6 million in cash rents and $1.1 million of straight-line and other non-cash rent adjustments. • Net income attributable to common shareholders

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Earnings Releases SEC 8-K Item 2.02 confidence 0.75

Four Corners Property Trust, Inc. reported the nine months ended September 30, 2022 results: net income $74.9 million, EPS $0.92 per diluted share.

Period: the nine months ended September 30, 2022
Net income: $74.9 million
EPS: $0.92 per diluted share
Result: preliminary results

Exact text from the filing

On November 1, 2022, Four Corners Property Trust, Inc. (the “Company”) announced its financial results for the quarter ended September 30, 2022.

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Four Corners Property Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001650132-22-000125

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