FCPT Q1 rental revenue up 11.3% to $52.2M; AFFO flat at $0.41

Four Corners Property Trust, Inc.

2023-Q1 EPS reported $0.27 revenue$59,952,000

Net income $23.1M ($0.27 diluted EPS) vs $22.3M ($0.28) in Q1 2022.
NAREIT FFO per share $0.39 (-$0.01 YoY); AFFO per share $0.41 (flat).
Acquired 10 properties for $19.9M at 6.9% initial yield; sold 3 for $12.1M.
Raised $52.1M via ATM forward at avg $27.73; liquidity $392M.
Rent collection 99.9%; portfolio 99.9% occupied with 8.0yr WALT.

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 March 31, 2023 results: revenue $52.2 million, net income $23.1 million, EPS $0.27 per diluted share.

Period: the three months ended March 31, 2023
Revenue: $52.2 million
Net income: $23.1 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

March 31, 2023. Financial Results Rental Revenue and Net Income Attributable to Common Shareholders • Rental revenue for the first quarter increased 11.3% over the prior year to $52.2 million. Rental revenue consisted of $51.4 million in cash rents and $0.8 million of straight-line and other non-cash rent adjustments. • Net income attributable to common shareholders

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Four Corners Property Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001650132-23-000070

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