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Four Corners Property Trust (FCPT)
NYSE:FCPT
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.28Last Year’s EPS
$0.27Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -2.58%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Positive
The earnings call presented a positive outlook with significant achievements in equity raising, portfolio performance, and acquisitions. However, there are some concerns about consumer spending and upcoming debt maturities.Company Guidance
During the FCPT Q3 2024 earnings call, the executives highlighted several key metrics that underscore the company's strong financial health and strategic focus. They reported Q3 AFFO per share of $0.43, marking a 2.4% increase from the previous year. Cash rental income reached $58.7 million, up 4.8% from last year, bolstered by $145 million in acquisitions over the past 12 months. The company's portfolio occupancy was at an impressive 99.6%, with minimal lease maturities forecasted for 2024 and 2025. FCPT successfully raised over $224 million in equity, with an additional $100 million in equity forwards outstanding, reflecting a robust capital position. Their net debt to adjusted EBITDAre decreased to 4.9x, the lowest since 2019, and they maintained a fixed charge coverage ratio of 4.4x. The call also noted the stable performance of their portfolio, with high rent collections and a focus on diversifying their tenant base, now comprising 156 brands, while emphasizing the quality and strategic value of recent acquisitions.Equity and Capital Improvements
Raised over $224 million in equity, with $100 million in equity forwards and full capacity on the revolver, marking the lowest leverage in nearly 5 years.
Portfolio Performance
High rent collections and occupancy with rent coverage at 5x for the majority of the portfolio.
Acquisitions and Diversification
Acquired 21 properties for $71 million at a 7.2% cap rate, including a significant Bloomin' Brands transaction.
AFFO Growth
Q3 AFFO per share increased by 2.4% from last year.
Cash Rental Income Increase
Q3 cash rental income grew by 4.8% compared to last year.
Portfolio Occupancy
Portfolio occupancy is at 99.6% with low lease maturities in the coming years.
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FCPT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FCPT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $27.88 | $27.56 | -1.15% |
| Jul 31, 2024 | $26.82 | $26.94 | +0.45% |
| May 01, 2024 | $22.96 | $23.48 | +2.26% |
| Feb 14, 2024 | $22.05 | $22.58 | +2.40% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Four Corners Property Trust (FCPT) report earnings?
Four Corners Property Trust (FCPT) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Four Corners Property Trust (FCPT) earnings time?
Four Corners Property Trust (FCPT) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FCPT EPS forecast?
FCPT EPS forecast for the fiscal quarter 2024 (Q4) is $0.28.
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