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Sep 30, 2024
FCPT Q3 2024 Earnings Report
FCPT's financial performance remained steady with slight revenue growth and strategic acquisitions.
Key Takeaways
Four Corners Property Trust (FCPT) reported a 3.7% increase in rental revenue for Q3 2024, reaching $59.3 million. Net income attributable to common shareholders was $25.6 million, or $0.27 per diluted share. The company acquired 21 properties for $70.7 million and maintained a high rent collection rate of 99.8%.
Rental revenue increased by 3.7% year-over-year to $59.3 million.
Net income attributable to common shareholders was $25.6 million, or $0.27 per diluted share.
AFFO per diluted share increased to $0.43, a $0.01 increase compared to the same quarter in 2023.
Acquired 21 properties for a combined purchase price of $70.7 million with an initial weighted average cash yield of 7.2%.
Revenue by Segment
Forward Guidance
The company anticipates 2024 will remain busy with new acquisitions through year end and believes their balance sheet is in excellent shape to support renewed AFFO growth going forward.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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