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Mar 31, 2021
FCPT Q1 2021 Earnings Report
Reported an increase in rental revenue and net income, driven by robust portfolio performance and strategic acquisitions.
Key Takeaways
Four Corners Property Trust (FCPT) reported strong first-quarter results, characterized by industry-leading rent collections, strategic acquisitions, and a low-rate unsecured private note offering. Rental revenue increased by 10.0% year-over-year to $41.5 million, and net income attributable to common shareholders was $20.6 million, or $0.27 per diluted share. The company maintained a high occupancy rate of 99.7% and continued to expand its portfolio through acquisitions and dispositions.
Rental revenue increased by 10.0% year-over-year to $41.5 million.
Net income attributable to common shareholders was $20.6 million, or $0.27 per diluted share.
FFO per diluted share was $0.37, consistent with the first quarter of 2020.
The company acquired 13 properties for $33.9 million at a weighted average cash yield of 6.6%.
FCPT
FCPT
FCPT Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comRestaurant Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income