Earnings summaries and quarterly performance for Four Corners Property Trust.
Executive leadership at Four Corners Property Trust.
Board of directors at Four Corners Property Trust.
Research analysts who have asked questions during Four Corners Property Trust earnings calls.
Anthony Paolone
JPMorgan Chase & Co.
5 questions for FCPT
Also covers: ARE, BDN, BNL +29 more
Mitch Germain
Citizens JMP
4 questions for FCPT
Also covers: ALEX, CIGI, CWK +13 more
Alec Feygin
Robert W. Baird & Co. Incorporated
3 questions for FCPT
Also covers: CTRE, GMRE, KIM +6 more
James Kammert
Evercore ISI
3 questions for FCPT
Also covers: ADC, ARE, CHCT +6 more
Jason Wayne
Barclays
3 questions for FCPT
Also covers: ELS, O, SUI +1 more
Michael Goldsmith
UBS
3 questions for FCPT
Also covers: ADC, AHR, AMH +33 more
William John Kilichowski
Wells Fargo
3 questions for FCPT
Also covers: ADC, CTRE, EPR +14 more
John Kilichowski
Wells Fargo & Company
2 questions for FCPT
Also covers: ADC, CTRE, EPRT +15 more
Wesley Golladay
Robert W. Baird & Co.
2 questions for FCPT
Also covers: ADC, AHR, ARE +23 more
Kathryn Graves
UBS
1 question for FCPT
Also covers: EPR, NTST, PINE +2 more
Kyle Katorincek
Janney Montgomery Scott
1 question for FCPT
Also covers: NXRT
Rich Hightower
Barclays
1 question for FCPT
Also covers: ADC, AMH, AVB +18 more
R.J. Milligan
Raymond James
1 question for FCPT
Also covers: ADC, CTO, GLPI +5 more
Sean Hostert
Net Lease Observer
1 question for FCPT
Recent press releases and 8-K filings for FCPT.
FCPT Provides Q3 2025 Investor Presentation
FCPT
Earnings
New Projects/Investments
- For Q3 2025, Four Corners Property Trust (FCPT) reported $0.45 AFFO per share and a highly occupied portfolio at 99.5% across 1,294 leases and 170 brands.
- The company has demonstrated significant growth and diversification since its 2015 inception, with annual base rent increasing from $94 million to $256 million and properties from 418 to 1,273 by Q3 2025. Non-restaurant exposure now stands at 25% of the portfolio.
- FCPT maintains a strong financial position, characterized by a 4.7x net debt to adjusted EBITDAre ratio and 97% fixed rate debt as of September 30, 2025. The company also has $446 million in available liquidity as of October 28, 2025, and holds investment-grade credit ratings of Baa3 (Moody's) and BBB (Fitch).
Dec 1, 2025, 9:10 PM
FCPT Acquires Five Property Veterinary Clinic Portfolio
FCPT
M&A
New Projects/Investments
- Four Corners Property Trust (FCPT) announced the acquisition of a five-property veterinary clinic portfolio for $13.8 million.
- The transaction was priced at a 7.3% cap rate on rent as of the closing date.
- The portfolio includes properties leased to National Veterinary Associates, Banfield Pet Hospital, and Mission Pet Health, with a weighted average nine years of term remaining on their net leases.
Nov 10, 2025, 11:15 PM
Firm Capital Property Trust Reports Q3 2025 Results and Mortgage Refinancing
FCPT
Earnings
Debt Issuance
Dividends
- Firm Capital Property Trust reported Adjusted Funds From Operations (AFFO) of approximately $4.6 million and $0.124 per Unit for Q3 2025, with the AFFO Payout Ratio improving to 104% for Q3 2025 compared to 106% for Q2 2025.
- The Trust completed a $38 million mortgage refinancing on a property in Whitby, Ontario, at a fixed interest rate of 4.51% over a 5-year term, in which the Trust holds a 40% interest.
- The portfolio comprises 62 commercial properties with a total gross leasable area of 2,427,366 square feet, 5 multi-residential complexes, and 4 Manufactured Home Communities, maintaining a commercial occupancy of 94.6%.
- Net Asset Value (NAV) per Unit was $7.83, and the Debt to Gross Book Value (GBV) ratio was 50.0%.
Nov 6, 2025, 10:01 PM
Four Corners Property Trust, Inc. enters into new equity distribution agreement
FCPT
New Projects/Investments
M&A
Debt Issuance
- Four Corners Property Trust, Inc. (FCPT) entered into an equity distribution agreement on October 30, 2025, to offer and sell shares of its common stock with an aggregate gross sales price of up to $500,000,000.
- The offering will be conducted through various sales agents and forward purchasers, including Morgan Stanley & Co. LLC, Barclays Capital Inc., and Goldman Sachs & Co. LLC, with commissions not exceeding 2.0% of the gross sales price.
- Net proceeds from the offering are intended for general corporate purposes, which may include the repayment of outstanding indebtedness, the acquisition of additional properties, and capital expenditures.
- This new agreement terminates and replaces a prior equity distribution agreement dated September 17, 2024.
Oct 30, 2025, 9:36 PM
FCPT Reports Strong Q3 2025 Financial Results and Acquisition Activity
FCPT
Earnings
Guidance Update
New Projects/Investments
- Four Corners Property Trust (FCPT) reported Q3 2025 AFO of $0.45 per share, a 3% increase from Q3 last year, and cash rental income of $66.1 million, up 12.6% year-over-year.
- In Q3 2025, FCPT acquired $82 million of net lease properties at a 6.8% blended cap rate, bringing year-to-date acquisitions to $229 million at the same cap rate.
- The company maintains a strong capital position with $270 million in combined dry powder and a net debt to Adjusted EBITDA of 4.7 times (inclusive of outstanding net equity forwards), with no debt maturities until the end of 2026.
- FCPT's portfolio demonstrated resilience with 99.5% occupancy and 99.9% base rent collection for Q3 2025, and 90% of its 2025 lease expirations have been extended or have indicated intent to renew.
Oct 29, 2025, 4:00 PM
FCPT Reports Strong Q3 2025 Financial Results and Acquisition Activity
FCPT
Earnings
New Projects/Investments
Debt Issuance
- FCPT reported Q3 2025 AFO of $0.45 per share, representing a 3% increase from Q3 last year, and cash rental income of $66.1 million, up 12.6% compared to the prior year.
- The company acquired $82 million of net lease properties in Q3 2025 at a 6.8% blended cap rate, contributing to $355 million in acquisitions over the trailing 12 months.
- At the end of Q3, FCPT's net debt to Adjusted EBITDA was 4.7 times (inclusive of outstanding net equity forwards) and 5.3 times (excluding equity forwards), with the leverage target range lowered to 5 to 6 times.
- FCPT has $270 million in combined dry powder, consisting of equity, debt capacity, and retained cash flow, to support future growth.
- The portfolio maintained strong occupancy at 99.5%, and 99.9% of base rent was collected for Q3.
Oct 29, 2025, 4:00 PM
FCPT Reports Q3 2025 Financial Results and Investment Activity
FCPT
Earnings
New Projects/Investments
- FCPT reported Net Income of $28.877 million and Adjusted EBITDAre of $57.004 million for Q3 2025, with total rental revenue reaching $66.508 million.
- The company invested $82 million in Q3 2025 at a 6.8% cap rate, contributing to $355 million in acquisitions over the last 12 months as of September 30, 2025.
- FCPT raised $173 million in 2025 to date and maintains $446 million in total liquidity, including $100 million of unsettled equity forwards as of October 28, 2025, and a $339 million undrawn revolver.
- The balance sheet is positioned for the future with approximately 97% of total debt fixed rate and a net debt to adjusted EBITDAre ratio of 4.7x. The portfolio demonstrated strong performance with 99.9% rent collections and 99.5% occupancy in Q3 2025.
Oct 29, 2025, 4:00 PM
FCPT Reports Q3 2025 Financial Results and Strategic Updates
FCPT
Earnings
New Projects/Investments
Guidance Update
- FCPT reported Q3 2025 AFO of $0.45 per share, a 3% increase year-over-year, and cash rental income of $66.1 million, up 12.6% from last year. The company maintained strong operational performance with 99.5% portfolio occupancy and 99.9% base rent collection for the quarter.
- The company acquired $82 million of net lease properties in Q3 2025 at a 6.8% blended cap rate, contributing to $229 million in acquisitions year-to-date 2025 at the same cap rate. Over the trailing 12 months, acquisitions totaled $355 million.
- FCPT has $270 million in combined dry powder (equity, debt, and retained cash flow) available for growth. Its net debt to Adjusted EBITDA stood at 4.7 times at the end of Q3 (inclusive of equity forwards), with 97% of its debt stack fully fixed at a blended cash interest rate of 3.9%.
- The portfolio demonstrates robust credit quality, reporting zero bad debt expense this year and a Q3 rent coverage of 5.1 times for the majority of its assets. FCPT has also significantly diversified its rent base, with 35% of rents now originating from outside casual dining.
Oct 29, 2025, 4:00 PM
FCPT Announces Q3 2025 Financial and Operating Results
FCPT
Earnings
Dividends
New Projects/Investments
- Four Corners Property Trust reported rental revenue of $66.5 million for Q3 2025, a 12.2% increase over the prior year, with net income attributable to common shareholders at $28.8 million or $0.28 per diluted share.
- AFFO per diluted share was $0.45 and FFO per diluted share was $0.42 for Q3 2025.
- The company acquired 28 properties for $82.0 million in Q3 2025, bringing total acquisitions over the trailing 12 months to $355 million.
- As of September 30, 2025, the portfolio comprised 1,273 properties with 99.5% occupancy and a weighted average remaining lease term of 7.1 years.
- FCPT declared a dividend of $0.3550 per common share for Q3 2025 and achieved 99.9% rent collection for the quarter.
Oct 28, 2025, 9:00 PM
FCPT Announces Third Quarter 2025 Results
FCPT
Earnings
Dividends
New Projects/Investments
- Four Corners Property Trust reported rental revenue of $66.5 million for the third quarter of 2025, marking a 12.2% increase over the prior year, with net income attributable to common shareholders of $28.8 million, or $0.28 per diluted share.
- Adjusted Funds from Operations (AFFO) per diluted share for Q3 2025 was $0.45, and NAREIT-defined FFO per diluted share was $0.42, both representing increases compared to the same quarter in 2024.
- The company acquired 28 properties for a combined purchase price of $82.0 million during the third quarter and achieved a 99.9% rent collection rate for the quarter ending September 30, 2025.
- FCPT declared a dividend of $0.3550 per common share for the third quarter of 2025 and had approximately $490 million of available liquidity as of September 30, 2025.
Oct 28, 2025, 8:45 PM
Quarterly earnings call transcripts for Four Corners Property Trust.
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