Four Corners Property Trust (FCPT) Misses Q1 EPS by 1c

Four Corners Property Trust (NYSE: FCPT) reported Q1 EPS of $0.27, $0.01 worse than the analyst estimate of $0.28.

• NAREIT-defined FFO per diluted share for the first quarter was $0.37, representing flat per share results compared to the first quarter in 2020.
• AFFO per diluted share for the first quarter was $0.38, representing a $0.01 per share increase compared to the first quarter in 2020.

“First quarter results demonstrate the continuing robustness of the Four Corners’ portfolio,” said CEO Bill Lenehan. “We maintained industry-leading collections in the existing portfolio and benefited from a full quarter of ownership of the properties acquired at the end of 2020. We continue to acquire quality properties while remaining disciplined in our pricing. We recently raised an unsecured private note offering at an all-time low rate as a result of our strong balance sheet.”

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

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