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