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Sep 30, 2023
FCPT Q3 2023 Earnings Report
FCPT's rental revenue increased by 17.3% and the company acquired 31 properties.
Key Takeaways
Four Corners Property Trust (FCPT) reported a strong third quarter with a 17.3% increase in rental revenue compared to the prior year, reaching $57.2 million. The company also acquired 31 properties for $130.2 million. Net income attributable to common shareholders was $24.2 million, or $0.27 per diluted share.
Rental revenue for the third quarter increased 17.3% over the prior year to $57.2 million.
Net income attributable to common shareholders was $24.2 million for the third quarter, or $0.27 per diluted share.
During the third quarter, FCPT acquired 31 properties for a combined purchase price of $130.2 million at an initial weighted average cash yield of 6.4%.
FCPT declared a dividend of $0.34 per common share for the third quarter of 2023.
Revenue by Segment
Forward Guidance
FCPT believes that they are well-positioned in a higher rate environment and expect to be ready to take advantage of opportunities as they arise.
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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