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Mar 31, 2024
FCPT Q1 2024 Earnings Report
FCPT had a solid start to the year with increased rental revenue and net income.
Key Takeaways
Four Corners Property Trust (FCPT) reported an increase in rental revenue by 12.3% year-over-year to $58.6 million for the first quarter of 2024. Net income attributable to common shareholders was $24.0 million, or $0.26 per diluted share, compared to $23.1 million, or $0.27 per diluted share, for the same quarter in the prior year. The company acquired 4 properties for $15.9 million and maintained high rent collection levels at 99.7%.
Rental revenue increased by 12.3% year-over-year to $58.6 million.
Net income attributable to common shareholders was $24.0 million, or $0.26 per diluted share.
Acquired 4 properties for a combined purchase price of $15.9 million.
Rent collection remained high at 99.7%.
FCPT
FCPT
FCPT Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comRestaurant Revenue
CapyFin.com Forward Guidance
The press release does not contain specific forward guidance. The management commentary suggests a well-capitalized position to take advantage of opportunities, but no explicit financial forecasts are provided.
Revenue & Expenses
Visualization of income flow from segment revenue to net income