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.
AP
Anthony Paolone
JPMorgan Chase & Co.
5 questions for FCPT
Also covers: ARE, BDN, BNL +29 more
MG
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
JK
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
WJ
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
WG
Wesley Golladay
Robert W. Baird & Co.
2 questions for FCPT
Also covers: ADC, AHR, ARE +23 more
KG
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
RM
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 Acquires Buffalo Wild Wings Property
FCPT
M&A
New Projects/Investments
- Four Corners Property Trust (FCPT) announced the acquisition of a Buffalo Wild Wings property for $2.8 million.
- The property, located in New Mexico, is corporate-operated under a long-term, triple net lease with approximately nine years of term remaining.
- The transaction was priced at a 6.8% cap rate on rent as of the closing date, exclusive of transaction costs.
10 hours ago
FCPT Announces Acquisition of Sprouts Property and 2025 Acquisition Volume
FCPT
M&A
New Projects/Investments
- Four Corners Property Trust (FCPT) acquired a Sprouts Farmers Market property for $8.6 million.
- The acquired property is located in Tennessee and is corporate-operated under a long-term net lease.
- Including this transaction, FCPT's total real estate acquisitions for 2025 reached 105 properties with a total investment of approximately $318 million.
13 hours ago
FCPT Announces Multiple Late-2025 Acquisitions
FCPT
M&A
New Projects/Investments
- Four Corners Property Trust (FCPT) announced multiple late-2025 acquisitions, including an Applebee’s in California for $4.3 million at a 6.2% cap rate (7.4% including percentage rent), a Crash Champions in Ohio for $2.6 million at a 7.2% cap rate, and a newly constructed National Veterinary Associates property in Georgia for $4.4 million at a 6.7% cap rate.
- These deals are part of a broader expansion strategy that added roughly $11.6 million of properties in mid-December and follows $82 million of Q3 2025 acquisitions, diversifying FCPT’s portfolio across medical, auto service, quick-service, and casual-dining assets.
- Analysts have noted FCPT’s sizable $1.21 billion debt load and recent share weakness, with shares declining about 4.1% over the past three months, which could impact near-term financial flexibility despite the acquisition activity.
Dec 23, 2025, 1:08 AM
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
Quarterly earnings call transcripts for Four Corners Property Trust.
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