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Mar 31, 2023
FCPT Q1 2023 Earnings Report
FCPT's financial results for the first quarter of 2023 were announced, showing an increase in rental revenue and net income, along with strategic capital raising activities.
Key Takeaways
FCPT reported a solid start to 2023 with increased rental revenue and net income. The company actively raised capital and maintained high rent collection levels, ending the quarter with a strong liquidity position.
Rental revenue increased by 11.3% year-over-year to $52.2 million.
Net income attributable to common shareholders was $23.1 million, or $0.27 per diluted share.
The company acquired 10 properties for $19.9 million with an initial weighted average cash yield of 6.9%.
FCPT sold 1,907,946 shares of common stock for anticipated net proceeds of $52.1 million.
FCPT
FCPT
FCPT Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comRestaurant Revenue
CapyFin.com Forward Guidance
The company starts the second quarter with $142 million of cash and equity forward positions available to fund high-quality acquisition opportunities in our target sectors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income