Four Corners Property Trust Q3 rental revenue rises 13.8%
FCPT•Four Corners Property Trust reported Q3 rental revenue of $75.68 million, up 13.8% year over year, and AFFO per diluted share growth of 2.9%. The company authorized its first share repurchase program, for up to $100 million of common stock.
1. Quarterly results
Four Corners Property Trust’s Q3 rental revenue rose 13.8% year over year to $75.68 million. Net income was $28.88 million, EPS was $0.26 and AFFO per diluted share increased 2.9% year over year.
2. Acquisitions and leases
The company acquired a record $326 million in net lease properties during Q3, funded with low-cost debt. It extended all Olive Garden and LongHorn leases maturing in 2027 without landlord concessions and collected 99.7% of contractual base rent for the quarter.
3. Repurchase authorization
Four Corners Property Trust authorized a share repurchase program of up to $100 million of common stock. It expects to draw the remaining $40 million of its term loan by the end of Q4 2026.
