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Jun 30, 2021
FCPT Q2 2021 Earnings Report
FCPT's portfolio performed well with strong collections, tenants experiencing sales above pre-pandemic levels, increased acquisition volume, strengthened balance sheet by extending credit facility, and diversified portfolio with non-restaurant properties.
Key Takeaways
Four Corners Property Trust (FCPT) reported an 11% increase in rental revenue, reaching $42.2 million for the second quarter of 2021. Net income attributable to common shareholders was $20.1 million, or $0.26 per diluted share. The company acquired 23 properties for $45.6 million and maintained a high rent collection rate of 99.8%.
Rental revenue increased by 11% year-over-year to $42.2 million.
Net income attributable to common shareholders was $20.1 million, or $0.26 per diluted share.
AFFO per diluted share increased to $0.38, up $0.04 from the same quarter in 2020.
Acquired 23 properties for a combined purchase price of $45.6 million with a 6.9% initial weighted average cash yield.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
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Avg. Return Before/After Earnings
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