Four Corners Property Trust Inc ( (FCPT) ) has released its Q4 earnings. Here is a breakdown of the information Four Corners Property Trust Inc presented to its investors.
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Four Corners Property Trust Inc. (FCPT), headquartered in Mill Valley, CA, is a real estate investment trust focused on the ownership, acquisition, and leasing of restaurant and retail properties. The company aims to expand its portfolio by acquiring additional real estate properties for leasing purposes.
In its fourth quarter 2024 financial results, FCPT reported a strong performance with significant property acquisitions and impressive rent collection. The company maintained a high rent payment collection rate of 99.4% for the fourth quarter and 99.8% for the entire year.
During the fourth quarter of 2024, FCPT’s rental revenue increased by 5.3% compared to the previous year, reaching $60.7 million. The net income attributable to common shareholders rose to $26.2 million, while the Adjusted Funds from Operations (AFFO) per diluted share saw a slight increase to $0.44. The company acquired 45 properties for $132.5 million and raised substantial capital through its ATM program, enhancing its liquidity position.
FCPT’s strategic focus remained on acquiring properties leased to national brands at favorable pricing, as evidenced by the $265 million worth of acquisitions throughout 2024. The company’s disciplined approach to capital raising and investment has positioned it well for continued growth, supported by an extended credit facility and a maintained low leverage profile.
Looking ahead, FCPT plans to continue its growth trajectory by leveraging its increased liquidity and extended debt maturities. The management remains optimistic about maintaining AFFO growth despite market volatility, focusing on strategic acquisitions and efficient capital management.
