Four Corners Property Trust (FCPT) Tops Q4 EPS by 4c, Revenues Miss

Four Corners Property Trust (NYSE: FCPT) reported Q4 EPS of $0.31, $0.04 better than the analyst estimate of $0.27. Revenue for the quarter came in at $38.05 million versus the consensus estimate of $38.45 million.

“During the fourth quarter, our existing portfolio continued to perform well, and we closed on twenty additional restaurant properties for a combined purchase price of $50.6 million. Many of these acquisitions were the result of our outparcel strategy or were repeat transactions with existing tenants,” said Bill Lenehan, Chief Executive Officer. “As importantly, we raised $19 million of equity and $100 million of long-term fixed rate debt in the quarter which puts us in a strong position to support future growth with over $90 million of cash on hand while maintaining a prudent balance sheet.”

For earnings history and earnings-related data on Four Corners Property Trust (FCPT) click here.

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