Four Corners Property (FCPT) AI Stock Analysis

• Market Cap: $2.44B
• Dividend Yield: 6.16%
• Average Volume (3M): 649.71K
• Price to Earnings (P/E): 21.2
• Beta (1Y): 0.22
• Revenue Growth: 8.28%
• EPS Growth: 1.49%
• Country: US
• Employees: 536
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): 0.28
• Shares Outstanding: 106,082,016
• 10 Day Avg. Volume: 690,011
• 30 Day Avg. Volume: 649,714
• PEG Ratio: -27.32
• Price to Book (P/B): 1.75
• Price to Sales (P/S): 9.48
• P/FCF Ratio: 17.64
• Enterprise Value/Market Cap: 1.54
• Enterprise Value/Revenue: 13.10
• Enterprise Value/Gross Profit: 14.11
• Enterprise Value/Ebitda: 13.88
• 1Y Price Target: $27.75
• Price Target Upside: 20.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 1.1
• Revenue Forecast (FY): $294.99M

• Rating: 71 Outperform
• Price Target: $26.00 ▲(12.75% Upside)

Four Corners Property Trust shows strong financial performance and strategic growth, supported by recent corporate events and a positive earnings call. However, technical indicators suggest bearish momentum, and cash flow challenges pose potential risks. The valuation is reasonable, but not overly attractive, balancing the overall score.

Positive Factors

Strong Tenant Performance

Robust tenant performance ensures stable rental income and highlights FCPT's alignment with successful operators, supporting long-term revenue stability.

Strategic Acquisitions

Strategic acquisitions enhance portfolio diversity and income potential, positioning FCPT for sustained growth and competitive advantage in the REIT sector.

Capital Position

A strong capital position with low leverage provides financial flexibility and resilience, enabling FCPT to pursue growth opportunities and withstand market fluctuations.

Negative Factors

Cash Flow Challenges

Declining free cash flow growth indicates potential liquidity issues, which could constrain FCPT's ability to fund operations and acquisitions, impacting long-term growth.

Sector Competition

Rising competition in the net lease market may limit FCPT's acquisition opportunities and pressure margins, challenging its ability to maintain growth momentum.

Challenging Deal-Making Environment

Uncertainty in the deal-making environment could hinder FCPT's acquisition strategy, affecting its capacity to expand its property portfolio and revenue base.

Four Corners Property Business Overview & Revenue Model

Company Description

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

How the Company Makes Money

FCPT generates revenue primarily through rental income from its leased properties. The company enters into long-term net lease agreements with tenants, where the responsibility for property expenses, such as maintenance and taxes, falls on the tenant, thereby enhancing FCPT's revenue stability. Key revenue streams include the collection of base rent and, in some cases, percentage rent tied to tenant sales performance. Additionally, FCPT may benefit from strategic acquisitions of new properties and partnerships with established brands in the retail and restaurant sectors, contributing to its portfolio growth and overall earnings.

Four Corners Property Financial Statement Overview

Summary

Four Corners Property exhibits strong profitability and a stable balance sheet, with efficient operations reflected in high margins. However, the company faces cash flow challenges, particularly in free cash flow generation, which could impact future financial flexibility.

Income Statement

Four Corners Property has demonstrated strong profitability with a high gross profit margin of 92.86% and a net profit margin of 38.04% in the TTM period. Revenue growth is positive at 2.63%, indicating steady growth. The EBIT and EBITDA margins are also robust at 73.82% and 94.11%, respectively, showcasing efficient operations. However, the revenue growth rate has slightly decelerated compared to previous years.

Balance Sheet

The company's balance sheet is stable with a debt-to-equity ratio of 0.79, indicating moderate leverage. The return on equity (ROE) is 7.40%, reflecting decent profitability relative to shareholder equity. The equity ratio stands at 54.18%, suggesting a solid equity base. However, the increase in total debt over the years could pose a risk if not managed carefully.

Cash Flow

Cash flow analysis reveals challenges, with a significant decline in free cash flow growth at -180.60% in the TTM period. The operating cash flow to net income ratio is low, indicating potential issues in converting income into cash. The free cash flow to net income ratio is negative, highlighting cash flow constraints. These factors suggest potential liquidity concerns that need addressing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	286.80M	268.07M	250.61M	223.19M	199.38M	170.94M
Gross Profit	266.33M	227.47M	210.35M	187.38M	169.78M	151.35M
EBITDA	270.68M	204.65M	190.93M	176.02M	152.16M	136.48M
Net Income	109.10M	100.47M	95.34M	97.77M	85.58M	77.33M
Balance Sheet
Total Assets	2.83B	2.65B	2.45B	2.20B	1.90B	1.67B
Cash, Cash Equivalents and Short-Term Investments	6.72M	4.08M	16.32M	26.30M	6.30M	11.06M
Total Debt	1.22B	1.14B	1.12B	1.00B	885.15M	762.30M
Total Liabilities	1.30B	1.20B	1.19B	1.06B	939.09M	823.68M
Stockholders Equity	1.53B	1.45B	1.26B	1.14B	961.67M	841.44M
Cash Flow
Free Cash Flow	177.66M	144.10M	165.10M	142.00M	122.42M	91.46M
Operating Cash Flow	177.66M	144.10M	165.10M	142.00M	122.42M	91.46M
Investing Cash Flow	-364.38M	-272.92M	-312.79M	-270.90M	-264.92M	-229.07M
Financing Cash Flow	148.95M	108.11M	146.18M	148.90M	137.74M	143.60M

Four Corners Property Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 23.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FCPT, the sentiment is Negative. The current price of 23.06 is below the 20-day moving average (MA) of 23.60, below the 50-day MA of 23.91, and below the 200-day MA of 25.68, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 37.16 is Neutral, neither overbought nor oversold. The STOCH value of 19.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FCPT.

Four Corners Property Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GTY	78 Outperform	$1.64B	22.27	7.54%	6.59%	8.17%	9.96%
WSR	73 Outperform	$1.38B	15.76	10.34%	3.99%	4.44%	107.23%
IVT	73 Outperform	$2.25B	19.14	6.65%	3.23%	9.40%	1433.20%
FCPT	71 Outperform	$2.44B	21.23	7.56%	6.16%	8.28%	1.49%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
AKR	65 Neutral	$2.73B	163.14	0.74%	3.98%	8.85%	27.38%
NTST	63 Neutral	$1.48B	10,394.12	0.02%	4.82%	19.92%	―

Four Corners Property Corporate Events

Four Corners Property Highlights Growth in Investor Presentations

In December 2025, Four Corners Property Trust announced its participation in upcoming investor presentations, highlighting its growth since its spin-off from Darden Restaurants in 2015. Over the past decade, FCPT has expanded its portfolio from 418 to 1,273 properties, increased its annual base rent from $94 million to $256 million, and grown its enterprise value from $1.3 billion to $3.8 billion. The company emphasizes its strategic focus on high-quality, credit-worthy tenants and maintaining a conservative financial position, which has resulted in consistent investment growth and strong industry positioning.

Four Corners Property Indemnification Agreements with Directors

On November 5, 2025, Four Corners Property Trust, Inc. entered into indemnification agreements with its independent directors, ensuring protection against liabilities arising from their service to the company. These agreements, effective as of the same date, allow for the advancement of expenses incurred in proceedings, although the SEC views such indemnification under the Securities Act of 1933 as unenforceable due to public policy concerns.

Four Corners Property Announces New Equity Agreement

On October 30, 2025, Four Corners Property Trust, Inc. announced a new equity distribution agreement with several financial institutions, allowing for the sale of up to $500 million in common stock. This agreement aims to provide the company with flexibility in raising capital for various corporate purposes, including debt repayment and property acquisitions, potentially strengthening its market position and operational capabilities.

Four Corners Property Reports Strong Q3 2025 Results

Four Corners Property Trust announced its third-quarter 2025 financial results, reporting a 12.2% increase in rental revenue to $66.5 million compared to the previous year. The company acquired $82 million worth of properties in the quarter, maintaining a strong portfolio growth with a focus on disciplined deal sourcing. FCPT’s portfolio consists of 1,273 properties across 48 states, with a high occupancy rate of 99.5%. The company declared a dividend of $0.3550 per common share for the quarter and reported significant liquidity with $490 million available. The results reflect the company’s strategic growth and low leverage profile, positioning it well for future expansion.