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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.
FCPT
FCPT
FCPT Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comRestaurant Revenue
CapyFin.com 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