Earnings Releases·Oct 28, 2026, 5:00 PM ET

Four Corners Property Trust — Third Quarter 2026 Earnings Summary

Rental revenue rose 13.8% year-over-year to $75.7 million; net income remained flat at $28.8 million ($0.26/share) for the quarter, while AFFO per share grew 2.9% to $0.46.
Record acquisitions of 120 properties totaling $326.3 million were funded entirely with low-cost debt, achieving a 6.6% initial weighted average cash yield.
Management indicated new acquisitions are priced at higher cap rates and views share repurchases as superior to property purchases at current valuations; a $100 million buyback program was authorized.
Dividends increased 3.5% to $0.1265 monthly, and the company expects to fully draw down the remaining $40 million of its term loan facility by Q4 2026.
Portfolio occupancy stands at 99.5% with 100% of 2027-maturing Olive Garden and LongHorn leases extended without concessions; leverage ratio remains at 6.0x.