UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-37538 Four Corners Property Trust, Inc. (Exact name of registrant as specified in its charter) Maryland 47-4456296 (State or other jurisdicti ...

Financial Data and Key Metrics Changes - The company reported Q1 AFFO of $0.44 per share, reflecting a 2.3% increase from the previous year [23] - Q1 cash rental income reached $63.2 million, representing a 9.1% growth compared to the same quarter last year [23] - The portfolio occupancy rate stands at 99.4%, with a rent collection rate of 99.5% for the first quarter [25] Business Line Data and Key Metrics Changes - In Q1, the company acquired 23 properties for $57 million at a blended cap rate of 6.7% with a weighted average lease term of 17 years [14] - The largest tenants include nationally branded restaurant operators, with significant same-store sales growth reported for Chili's (31.6%) and Olive Garden (12.6%) [8][9] - The company has diversified its portfolio, reducing Darden's contribution from 100% to 47% of the rent roll, with the top five brands now accounting for 55% of annual base revenue [9] Market Data and Key Metrics Changes - The company has not observed significant changes in cap rates for recently priced deals, indicating stable market conditions [6] - The majority of annual base rent (67%) comes from casual dining, with 11% from quick service and 11% from automotive services [10] Company Strategy and Development Direction - The company aims to maintain a disciplined acquisition strategy, focusing on high-quality assets and avoiding sectors with high tariff exposure [12][18] - The management emphasizes transparency and best-in-class disclosure, providing detailed insights into tenant exposures and acquisition strategies [13] Management's Comments on Operating Environment and Future Outlook - Management believes the portfolio is well-positioned to weather potential economic downturns, citing strong rent coverage and high occupancy rates [12][70] - The company is optimistic about its ability to capitalize on acquisition opportunities, despite macroeconomic uncertainties [72] Other Important Information - The company has raised $475 million in equity since July of the previous year, achieving its lowest leverage levels in seven years [7] - The fixed charge coverage ratio is reported at a healthy 4.4 times, indicating strong financial stability [22] Q&A Session Summary Question: Is slight yield compression due to increased competition for assets? - Management indicated that the majority of yield compression is related to the high percentage of QSR restaurant acquisitions in the quarter [26] Question: What is the governor on growth and pipeline outlook? - Management stated that the type of acquisitions being pursued largely determines growth, with a strong pipeline currently in place [28][30] Question: How do you monitor the health of Burger King tenants? - Management clarified that recent issues were specific to a particular franchisee and not indicative of broader problems [36] Question: What is the range of EBITDAR coverage ratios for recent acquisitions? - Management noted that while they do not disclose coverage ratios quarterly, credit metrics are fairly similar across industries [53] Question: How does the company view potential opportunities in a recession? - Management expressed confidence in the portfolio's performance during downturns, emphasizing readiness to deploy capital for high-quality deals [70][72]

Four Corners Property Trust NYSE: FCPT INVESTOR PRESENTATION Q1 2025 FORWARD LOOKING STATEMENTS AND DISCLAIMERS Cautionary note regarding forward-looking statements: This presentation 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 FCPT's intent, belief or expectations, including, but not limited to, statements regarding: operating and financial performance ...

Four Corners Property Trust (FCPT) came out with quarterly funds from operations (FFO) of $0.44 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.43 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this real estate investment trust would post FFO of $0.42 per share when it actually produced FFO of $0.44, delivering a surprise of 4.76%.Over the last four quarters, the company has surpassed consensus FFO estimates just ...

FCPT Announces First Quarter 2025 Financial and Operating Results MILL VALLEY, CA – April 30, 2025 / Business Wire – Four Corners Property Trust, Inc. ("FCPT" or the "Company", NYSE: FCPT) today announced financial results for the three months ended March 31, 2025. Management Comments "FCPT started the year off strong, continuing the momentum from the end of 2024. We accomplished the highest first quarter acquisition volume in company history, acquiring over $56 million of properties leased to national bran ...

Core Viewpoint - Investing in dividend stocks, particularly real estate investment trusts (REITs), can provide a lucrative and steadily rising income stream, turning idle cash into passive income. Group 1: Dividend Stocks Overview - Four Corners Property Trust, VICI Properties, and NNN REIT are highlighted as strong income options with dividend yields of 5% or more, significantly higher than the S&P 500's average yield of less than 1.5% [2] - These REITs focus on properties secured by long-term net leases, generating stable rental income that supports attractive dividends [12] Group 2: Four Corners Property Trust - Four Corners Property Trust owns approximately 1,200 properties leased to 163 brands, with a significant portion of its rent coming from restaurants [4] - The REIT's dividend yield is around 5%, supported by stable rental income from long-term leases averaging 7.3 years remaining [3] - The company has increased its dividend by 2.9% recently and has raised it by over 45% since its spin-off from Darden in 2015 [5] Group 3: VICI Properties - VICI Properties specializes in experiential real estate, such as casinos, with long-term triple-net leases averaging 41 years remaining, providing stable cash flow [6] - A growing percentage of VICI's net leases are linked to inflation, expected to rise from 42% this year to 90% by 2035, ensuring steady rental income growth [7] - The REIT has consistently raised its dividend for seven consecutive years, with a compound annual growth rate of 7% [8] Group 4: NNN REIT - NNN REIT focuses on single-tenant retail properties, with a dividend yield of 5.7%, supported by long-term NNN leases averaging 10 years remaining [9] - The REIT has a strong track record, having increased its dividend for 35 consecutive years, ranking it among the top in the REIT sector [11] - Approximately 73% of NNN REIT's investment volume since 2007 has come from existing tenant relationships, enhancing its acquisition strategy [10]

Four Corners Property Trust (FCPT) recently announced the purchase of an automotive service property for $5.3 million. Leased to a national operator, the said property is located in a highly trafficked corridor in Arkansas. The above acquisition highlights the company’s expansionary and diversification efforts, which will aid future revenue growth.Priced at a 6.8% cap rate on rent as of the closing date, exclusive of transaction costs, the property is corporate-operated under a long-term, triple-net lease. ...

Four Corners Property Trust (FCPT) recently announced the purchase of a Burger King property through a sale-leaseback for $2.1 million from Ampler Restaurant Group. This event marks the tenth property purchase from the previously announced sale-leaseback transaction with the said group, bringing the total transaction value to $22 million in March. The move highlights FCPT’s continuous efforts to expand and improve its portfolio quality through acquisitions.The property is located in strong retail corridors ...

Four Corners Property Trust (FCPT) recently announced the purchase of nine Burger King properties through a sale-leaseback for $19.9 million from Ampler Restaurant Group. The move highlights FCPT's efforts to diversify and improve its portfolio quality through acquisitions. The properties are located in the strong retail corridors in Tennessee. Priced at a 6.8% cap rate on rent as of the closing date, exclusive of transaction costs, the properties are franchise-operated under long-term, triple-net leases, w ...

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The service offers a free two-week trial for potential investors to explore top ideas across exclusive income-focused portfolios [1] Group 2 - The concept of match-funding investment income with expenses is highlighted, suggesting that dividends from specific sectors can be used to cover related expenses [2] - The emphasis is on defensive stocks with a medium- to long-term investment horizon [2]