Four Corners Property Trust Inc

FCPT

Equity

ISIN US35086T1097 / Valor 30202101

New York Stock Exchange, Inc (2024-12-24)

USD 27.65+1.77%

Four Corners Property Trust Inc
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About company

Four Corners Property Trust Inc. is a real estate investment trust (REIT) that specializes in the ownership, acquisition, and leasing of net lease retail properties. The company's portfolio is diverse, encompassing a variety of retail locations including restaurants, medical retail facilities, automotive service centers, and other retail properties. This diversification across different types of retail properties is a strategic approach to investment and asset management, aimed at generating stable and sustainable income streams. Four Corners Property Trust leverages the expertise of its skilled team to guide its disciplined capital allocation strategy, focusing on opportunities that promise long-term value creation for its stakeholders.

Summarized from source with an LLMView SourceSector: Finance

Rental Revenue and Net Income

Four Corners Property Trust Inc. reported a 10.8% increase in rental revenue for the second quarter of 2024, reaching $58.5 million. This includes $57.9 million in cash rents and $0.6 million from straight-line and other non-cash rent adjustments. Net income attributable to common shareholders was $24.7 million, or $0.27 per diluted share, compared to $23.6 million, or $0.27 per diluted share, in the same quarter of the previous year.

Funds from Operations (FFO)

For the second quarter of 2024, Four Corners Property Trust Inc. reported NAREIT-defined FFO per diluted share of $0.41, a $0.01 increase from the same quarter in 2023. For the six months ended June 30, 2024, NAREIT-defined FFO per diluted share was $0.82, representing a $0.03 increase compared to the same period in 2023.

Adjusted Funds from Operations (AFFO)

Four Corners Property Trust Inc. reported AFFO per diluted share of $0.43 for the second quarter of 2024, a $0.01 increase from the same quarter in 2023. For the six months ended June 30, 2024, AFFO per diluted share was $0.86, reflecting a $0.03 increase compared to the same period in 2023.

General and Administrative (G&A) Expense

In the second quarter of 2024, Four Corners Property Trust Inc. incurred G&A expenses of $6.0 million, which included $1.7 million in stock-based compensation. This compares to G&A expenses of $5.6 million, including $1.6 million in stock-based compensation, in the second quarter of 2023. Cash G&A expense, excluding stock-based compensation, was $4.3 million, representing 7.4% of cash rental income for the quarter.

Dividends

Four Corners Property Trust Inc. declared a dividend of $0.345 per common share for the second quarter of 2024. This reflects the company's ongoing commitment to returning value to its shareholders.

Summarized from source with an LLMView Source

Key figures

9.16%1Y

-3.56%3Y

0.69%5Y

Performance

18.2%1Y

20.8%3Y

41.2%5Y

Volatility