FCPT Q2 rental revenue +10.3% to $52.8M; AFFO per share +$0.01 to $0.42; record $301M YTD acquisitions

Four Corners Property Trust, Inc.

2023-Q2 EPS reported $0.54 revenue$120,640,000

Rental revenue $52.8M (+10.3% YoY); net income $23.6M ($0.27 diluted EPS) vs $28.1M ($0.35) prior year.
NAREIT FFO per diluted share $0.40 (flat YoY); AFFO per diluted share $0.42 (+$0.01 YoY).
Q2 acquired 48 properties for $169.7M at 6.85% initial cash yield; July added $110M, YTD total $301M, surpassing prior record full year.
Portfolio 99.9% occupied with 8.1-year WALT; rent collections at 99.7% for Q2.
Issued $100M 10-yr unsecured notes at 6.44%; net debt to adjusted EBITDAre 5.5x; Q2 dividend $0.34 per share.

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 1.0

Four Corners Property Trust, Inc. reported the six months ended June 30, 2023 results: net income $46.7 million, EPS $0.54 per diluted share.

Period: the six months ended June 30, 2023
Net income: $46.7 million
EPS: $0.54 per diluted share
Result: reported results

Exact text from the filing

Net income attributable to common shareholders was $46.7 million for the six months ended June 30, 2023, or $0.54 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Four Corners Property Trust, Inc. reported the three months ended June 30, 2023 results: revenue $52.8 million, net income $23.6 million, EPS $0.27 per diluted share.

Period: the three months ended June 30, 2023
Revenue: $52.8 million
Net income: $23.6 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

Rental revenue for the second quarter increased 10.3% over the prior year to $52.8 million.

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Four Corners Property Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001650132-23-000112

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