Quarterly ResultApr 29, 2026, 05:07 PM
FCPT Q1 Rental Revenue +10% to $69.8M; AFFO $0.45; New $200M Term Loan
AI Summary
Four Corners Property Trust announced strong Q1 2026 financial results, with rental revenue increasing 10.0% to $69.8 million and AFFO per diluted share growing 3.4% to $0.45. The company maintained high rent collection at 99.7% and acquired ten properties for $26.2 million. Post-quarter, FCPT secured a new $200 million senior unsecured delayed draw term loan facility, with $50 million drawn immediately to fund its investment pipeline.
Key Highlights
- Q1 2026 rental revenue increased 10.0% year-over-year to $69.8 million.
- Net income attributable to common shareholders was $30.3 million, or $0.28 per diluted share.
- AFFO per diluted share grew 3.4% year-over-year to $0.45.
- FCPT acquired ten properties for $26.2 million at a 6.8% initial cash yield in Q1.
- Rent collection for Q1 2026 was 99.7% of contractual base rent.
- Declared a Q1 2026 dividend of $0.3665 per common share.
- Secured a new $200 million 7-year delayed draw term loan facility post-quarter.
- Net debt to adjusted EBITDAre was 5.0x at quarter-end.