Four Corners Property Trust, Inc. (FCPT) Form 8-K — Oct 28, 2026
Four Corners Property Trust reported Q3 2026 rental revenue of $75.7 million, up 13.8% year-over-year, with AFFO per diluted share of $0.46 (+2.9%) and net income of $28.8 million ($0.26 per diluted share). The company collected 99.7% of base rent and acquired a record $326 million of net lease properties in the quarter at a 6.6% initial cash yield. FCPT's Board authorized an inaugural $100 million share repurchase program, with management saying buybacks currently deliver more value than property purchases given the share price sits below intrinsic value. The company also raised its monthly dividend 3.5% to $0.1265 per share ($1.5180 annualized).
Key figures
- Eps
- 0.26
- Revenue
- 75678000
- Guidance
- No formal guidance; management signaled modulating acquisitions vs. buybacks given higher cap rates and share price below intrinsic value.
- Net Income
- 28849000
- Total Debt
- 1585000000
- Revenue Yoy
- 13.8% rental revenue growth
- Cash Position
- 7198000
- Shares Outstanding
- 109756406
- Occupancy
- 99.5%
- Acquisitions q3
- $326.3 million at 6.6% cash / 7.1% GAAP yield
- Rent collection
- 99.7%
- Dividend increase
- 3.5%
- Revolver capacity
- $350 million
- Affo growth q3 yoy
- 2.9%
- Available liquidity
- $397 million
- Credit facility size
- $1.15 billion (up from $940 million)
- Buyback authorization
- $100 million
- Properties acquired q3
- 120
- Weighted avg lease term
- 6.7 years
- Ffo per diluted share q3
- 0.43
- Affo per diluted share 9m
- 1.36
- Affo per diluted share q3
- 0.46
- Dividend monthly per share
- 0.1265
- Dividend annualized per share
- 1.518
- Net debt to adjusted ebitdare
- 6.0x
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