FCPT Q4 rental revenue up 10.2% to $50.1M; acquires 42 properties for $119.6M

Four Corners Property Trust, Inc.

2022-FY EPS reported $1.20 revenue$223,194,000

Net income $22.9M ($0.27 diluted) vs $23.7M ($0.30) prior year; full-year net income $97.8M ($1.20).
AFFO per diluted share Q4 $0.41 flat YoY; full-year $1.64 up $0.08. Portfolio 99.9% occupied, 8.3 yr WALT.
Acquired 42 properties at $119.6M (6.6% initial yield); sold one property for $4.9M gain.
Raised $72M via ATM equity (2.74M shares at $26.70 avg) and $30M incremental debt; liquidity $344M.
Declared Q4 dividend of $0.34 per share; leverage 5.6x net debt/EBITDAre.

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 0.95

Four Corners Property Trust, Inc. reported three months and year ended December 31, 2022 results: revenue Rental revenue for the fourth quarter increased 10.2% over the prior year to $50.1 million., net income Net income attributable to common shareholders was $22.9 million for the fourth quarter, or $0.27 per diluted share., EPS $0.27 per diluted share.

Period: three months and year ended December 31, 2022
Revenue: Rental revenue for the fourth quarter increased 10.2% over the prior year to $50.1 million.
Net income: Net income attributable to common shareholders was $22.9 million for the fourth quarter, or $0.27 per diluted share.
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

99.9% for the year ending December 31, 2022. Financial Results Rental Revenue and Net Income Attributable to Common Shareholders • Rental revenue for the fourth quarter increased 10.2% over the prior year to $50.1 million. Rental revenue consisted of $49.2 million in cash rents and $0.9 million of straight-line and other non-cash rent adjustments. • Net income

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Four Corners Property Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001650132-23-000035

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