FCPT Announces First Quarter 2026 Financial and Operating Results

Published: 2026-04-29 16:07:09 ET FCPT

Published on 04/29/2026 at 04:07 pm EDT

Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three months ended March 31, 2026.

Management Comments

“FCPT started off 2026 in a strong position. After raising record liquidity and lowering our leverage profile in 2025, we closed on an attractively priced $200 million Term Loan to fund the investment pipeline at a 200+ basis point spread to historical acquisition yields,” said CEO Bill Lenehan. “The portfolio continues to perform at a high level, with continued strong collections and occupancy. Our new capital and fortress portfolio gives us the ability to play offense and boost growth.”

Rent Collection Update

As of March 31, 2026, the Company has received rent payments representing 99.7% of its portfolio contractual base rent for the quarter ending March 31, 2026.

Financial Results

Rental Revenue and Net Income Attributable to Common Shareholders

Adjusted Funds from Operations (AFFO)

Funds from Operations (FFO)

General and Administrative (G&A) Expense

Dividends

Real Estate Portfolio

Acquisitions

Dispositions

Liquidity and Capital Markets

Liquidity

Capital Raising

Credit Facility and Unsecured Notes

Conference Call Information

Company management will host a conference call and audio webcast on Thursday, April 30 at 12:00 p.m. Eastern Time to discuss the results.

Interested parties can listen to the call via the following:

Phone: 1 833 461 5787 (domestic) or 1 626 884 3620 (international), and reference the FCPT First Quarter 2026 Financial Results Conference Call

Live webcast: https://events.q4inc.com/attendee/865913566

Replay: A conference call replay will be available for one year via the webcast.

About FCPT

FCPT is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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. Additional information about FCPT can be found on the website at fcpt.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding: operating and financial performance, announced transactions, expectations regarding the making of distributions and the payment of dividends, and the effect of pandemics on the business operations of the Company and the Company’s tenants and their continued ability to pay rent in a timely manner or at all. Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “may,” “will,” “would,” “could,” “should,” “seek(s)” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made and, except in the normal course of the Company’s public disclosure obligations, the Company expressly disclaims any obligation to publicly release any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements are based on management’s current expectations and beliefs and the Company can give no assurance that its expectations or the events described will occur as described. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. For a further discussion of these and other factors that could cause the company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the company’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the company from time to time with the Securities and Exchange Commission.

Notice Regarding Non-GAAP Financial Measures:

In addition to U.S. GAAP financial measures, this press release and the referenced supplemental financial and operating report contain and may refer to certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures and statements of why management believes these measures are useful to investors are included in the supplemental financial and operating report, which can be found in the investor relations section of our website.

Supplemental Materials and Website:

Supplemental materials on the First Quarter 2026 operating results and other information on the Company are available on the investors relations section of FCPT’s website at investors.fcpt.com.

Three Months Ended March 31,

2026

2025

69,813

63,482

8,353

7,994

78,166

71,476

7,485

7,639

16,186

14,429

3,375

3,265

7,877

7,555

34,923

32,888

(13,121

)

(12,731

)

342

392

(98

)

(63

)

30,366

26,186

(32

)

(30

)

30,334

26,156

0.28

0.26

0.28

0.26

0.3665

0.3550

109,281,022

99,708,806

109,558,530

100,072,018

1,509,601

1,499,059

2,012,376

1,998,573

3,521,977

3,497,632

(828,495

)

(816,992

)

2,693,482

2,680,640

126,589

129,371

2,820,071

2,810,011

29,646

12,144

72,543

71,765

11,492

9,385

1,719

1,679

16,408

15,742

2,951,879

2,920,726

582,516

581,880

622,454

622,291

40,129

39,567

16,372

17,939

2,882

5,055

23,401

24,155

1,287,754

1,290,887

1,753,431

1,713,606

11,927

7,665

2,106

2,112

(103,350

)

(93,555

)

1,664,125

1,629,839

2,951,879

2,920,726

Three Months Ended March 31,

2026

2025

30,366

26,186

16,111

14,392

46,477

40,578

(778

)

(726

)

(40

)

(55

)

2,613

2,760

799

782

544

486

49,690

43,862

109,673,089

100,186,577

0.42

0.41

0.45

0.44

Amount represents non-cash deferred income tax benefit recognized at the Kerrow Restaurant Business

Assumes the issuance of common shares for OP units held by non-controlling interest

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