secwatch.observer — SEC 8-K summary
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Issuer:     Four Corners Property Trust, Inc. (FCPT)
CIK:        0001650132
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001650132-23-000112
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650132/000165013223000112/0001650132-23-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650132/000165013223000112/fcpt-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001650132-23-000112

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer