Four Corners Property Trust, Inc. (FCPT) reported a total revenue of $294.1 million for the fiscal year ended December 31, 2025, marking a 9.7% increase from $268.1 million in 2024. The company's rental revenue rose to $262.6 million, up from $237.1 million the previous year, driven by the acquisition of 105 properties in 2025 and a full year of revenue from properties acquired in 2024. Net income available to common shareholders also increased, reaching $112.4 million compared to $100.5 million in 2024, reflecting a 11.9% growth.
In terms of operational metrics, FCPT maintained a high occupancy rate of 99.6% across its portfolio of 1,303 properties, which collectively represent 8.8 million square feet of leasable area. The average remaining lease term was reported at 6.9 years, with an average annual rent escalation of 1.5% through December 31, 2030. The company’s strategy to diversify its tenant base is evident, as it aims to reduce reliance on Darden Restaurants, which accounted for approximately 44.7% of its rental income.
During 2025, FCPT engaged in significant strategic developments, investing $325.5 million in real estate transactions, which included the acquisition of properties across 28 states. The company also reported a total of 496 employees as of February 12, 2026, with a focus on enhancing employee growth and satisfaction through various training and development initiatives. The company’s financial position remains strong, with $12.1 million in cash and $350 million available under its revolving credit facility.
Looking ahead, FCPT expressed confidence in its ability to continue its acquisition strategy and maintain its REIT status, which requires distributing at least 90% of its taxable income to shareholders. The company has also implemented a new At-The-Market (ATM) program, allowing it to raise up to $500 million through the sale of common stock, which it plans to use for future acquisitions and general corporate purposes. The outlook remains positive, with management anticipating continued growth in rental income and overall portfolio expansion.
About Four Corners Property Trust, Inc.
Four Corners Property Trust is a REIT that owns, acquires, and leases restaurant and retail properties across the U.S., primarily through net lease arrangements with high-quality tenants like Darden Restaurants. Its portfolio includes over 1,200 properties, focusing on long-term income, diversification, and strategic acquisitions. The company also operates the Kerrow Restaurant Business, emphasizing stable cash flow, tenant quality, and asset management in a competitive, regulated environment.
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