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Jun 30, 2024
FCPT Q2 2024 Earnings Report
FCPT demonstrated strong performance driven by strategic acquisitions and consistent rent collections.
Key Takeaways
FCPT reported a strong second quarter with a 10.8% increase in rental revenue, driven by strategic acquisitions of high-quality assets and consistent rent collections representing 99.8% of portfolio contractual base rent.
Rental revenue increased by 10.8% year-over-year to $58.5 million for the quarter.
Net income attributable to common shareholders was $24.7 million, or $0.27 per diluted share.
NAREIT-defined FFO per diluted share increased to $0.41, a $0.01 increase compared to the same quarter in 2023.
The company acquired 17 properties for $45.5 million with an initial weighted average cash yield of 7.2%.
Revenue by Segment
Forward Guidance
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding: operating and financial performance, announced transactions, expectations regarding the making of distributions and the payment of dividends, and the effect of pandemics on the business operations of the Company and the Company’s tenants and their continued ability to pay rent in a timely manner or at all.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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