Highest-materiality recent filing
FCPT signs definitive agreement to acquire up to 102 veterinary properties for $268M
Purchase price up to $268M; initial cash rent ~$17.33M incl. contractual rent increases in Sep 2026.
FCPT Q1 AFFO $0.45 (+3.4% YoY), revenue $69.8M (+10%), new $200M term loan
Rental revenue $69.8M, +10% YoY; AFFO per share $0.45, +3.4% YoY; FFO $0.42, +4.7% YoY.
FCPT closes $200M seven-year delayed draw term loan; $50M drawn at closing
Facility: $200M senior unsecured delayed draw term loan; $50M funded on closing, $150M to fund acquisitions in late Q2/early Q3 2026.
FCPT Q4 rental revenue up 11.6% to $67.8M; AFFO per share $0.45, up $0.01 YoY
Net income Q4 $29.4M ($0.28/diluted share) vs $26.2M ($0.27) YoY; full-year $112.4M ($1.09).
Four Corners Property Trust enters $500M ATM equity distribution agreement, replaces prior program
New equity distribution agreement allows FCPT to sell up to $500M in common stock through multiple agents.
FCPT Q3 rental revenue up 12.2% to $66.5M; AFFO $0.45/dil share, up $0.02 YoY
Rental revenue $66.5M (+12.2% YoY); net income $28.8M ($0.28 diluted EPS).
FCPT Q1 rental revenue up 8.4% to $63.5M; acquires $56.5M in properties
Net income attributable to common shareholders $26.2M ($0.26 diluted EPS), vs $24.0M ($0.26) prior year.
FCPT Q4 revenue up 5.3% to $60.7M; AFFO per share +$0.01; dividend raised 2.9%
Q4 rental revenue $60.7M (+5.3% YoY); net income $26.2M ($0.27 diluted EPS), flat YoY on higher share count.
FCPT upsizes unsecured credit facility to $940M, extends maturities into 2029
Total facility increased from $765M to $940M: $350M revolver + $590M term loans.
FCPT buys $66.4M Bloomin' portfolio, raises $148M equity via ATM, Darden now <50% of rent
Acquired 20 Outback and Carrabba's restaurants from Bloomin' Brands for $66.4M; cap rate accretive on day one.
FCPT Q1 2024: rental revenue $58.6M (+12.3% YoY), FFO $0.41, AFFO $0.43
Rental revenue $58.6M (+12.3% YoY), net income $24.0M ($0.26 diluted EPS).
Four Corners Property Trust CFO Gerald Morgan to retire; Patrick Wernig named successor
CFO Gerald Morgan retires effective May 3, 2024; will serve as Advisor ($50k/month) through Oct 31, then consultant ($8k/month) to Feb 28, 2026.
FCPT Q4 rental revenue up 15% to $57.6M; FFO $0.41, AFFO $0.43 per share
Rental revenue $57.6M (+15% YoY); net income $24.4M ($0.27 diluted) vs $22.9M a year ago.
FCPT Q3 rental revenue up 17.3% to $57.2M; FFO per share $0.41 (+$0.01 YoY)
Net income attributable to common shareholders $24.2M ($0.27 diluted) vs $24.5M ($0.30) in Q3 2022.
Rental revenue $52.8M (+10.3% YoY); net income $23.6M ($0.27 diluted EPS) vs $28.1M ($0.35) prior year.
FCPT closes $79.5M acquisition of 13 Darden restaurant properties; YTD volume $269.1M
Closed purchase of 12 Cheddar's Scratch Kitchen and 1 Olive Garden property for $79.5M, initial annual rent ~$5.0M.
$100M senior unsecured notes due July 12, 2033, priced at 6.44% fixed.
FCPT agrees to acquire up to 14 Darden restaurant properties for $85M
Purchase price up to $85.0M; initial cash rent of ~$5.35M.
FCPT Q1 rental revenue up 11.3% to $52.2M; AFFO flat at $0.41
Net income $23.1M ($0.27 diluted EPS) vs $22.3M ($0.28) in Q1 2022.
FCPT Q4 rental revenue up 10.2% to $50.1M; acquires 42 properties for $119.6M
Net income $22.9M ($0.27 diluted) vs $23.7M ($0.30) prior year; full-year net income $97.8M ($1.20).
Four Corners Property Trust enters $450M at-the-market equity distribution program with 11 banks
Equity distribution agreement allows sale of up to $450M of common stock via agents or forward sale agreements.
FCPT Q3 2022: rental revenue $48.7M, AFFO $0.41/share, $69.9M in acquisitions
Rental revenue up 11.4% to $48.7M; net income $24.5M ($0.30 diluted) vs. $21.2M in Q3 2021.
FCPT upsizes unsecured credit facility to $680M, adds 2027/2028 term loans
Total facility size increased from $650M to $680M; added $90M term loan maturing 2027 and $90M term loan maturing 2028.
FCPT Q2 rental revenue up 13.6% to $47.9M; AFFO $0.41/share
Net income $28.1M ($0.35 diluted EPS); NAREIT FFO $0.40, AFFO $0.41 per diluted share.
FCPT Q1 2022 rental revenue $46.9M (+12.9% YoY); FFO per share $0.40; Fitch upgrade to BBB
Net income $22.3M ($0.28 diluted EPS) vs $20.6M ($0.27) in Q1 2021.
FCPT Q4 AFFO per share up 10% YoY, revenue +13.5% to $45.5M
Net income attributable to common shareholders $23.7M ($0.30 diluted EPS) vs $20.3M ($0.27) in Q4 2020.
Effective June 5, 2025, the Company's Chair, John S. Moody, retired as Chair of the Board and Douglas B. Hansen assumed the position of the Company's Chair of the Board.
Effective June 5, 2025, the Company's Chair, John S. Moody, retired as Chair of the Board and Douglas B. Hansen assumed the position of the Company's Chair of the Board.
On March 6, 2025, the Board announced that Douglas B. Hansen, a current member of the Board, will become the Chair of the Board following Mr. Moody’s retirement contingent upon Mr Hansen's re-election to the Board at the 2025 Annual Meeting.
On March 6, 2025, John S. Moody, the non-executive Chair of the Board of Directors (the “Board”) of Four Corners Property Trust, Inc. (the “Company”), informed the Board that he will not stand for re-election to the Board at the Company’s 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”).
Under the Amendment, Mr. Morgan’s employment will terminate on September 30, 2024 (rather than on October 31, 2024)
Mr. Wernig replaces Gerald R. Morgan as Chief Financial Officer.
On May 3, 2024, Four Corners Property Trust, Inc. (the “Company”) announced the appointment of Patrick Wernig, age 36, as Chief Financial Officer and Treasurer of the Company.
Gerald R. Morgan, the Chief Financial Officer of the Company, will retire from employment with the Company as the Chief Financial Officer effective as of May 3, 2024
subject to his appointment by the Company’s Board of Directors, Patrick L. Wernig, the Company’s current Managing Director of Acquisitions, will be appointed as the Company’s Chief Financial Officer on or about the Effective Date
On March 10, 2023, Four Corners Property Trust, Inc. (the “Company”) announced that the Board of Directors of the Company (the “Board”) elected Barbara Jesuele, aged 48, as a member of the Board, effective March 9, 2023.
On January 23, 2023, Four Corners Property Trust, Inc. (the “Company”) announced the promotion of James Brat from General Counsel and Chief Transaction Officer to Chief Operating Officer ("COO"), effective January 20, 2023.
On October 20, 2022, Eric S. Hirschhorn informed the Board of Directors (the “Board”) of Four Corners Property Trust, Inc. (the “Company”) of his resignation from the Board and any committees thereof effective immediately.
Max materiality 0.75 · Median 0.60 · Most common event earnings