Feed / FCPT

Four Corners Property Trust, Inc.

FCPT

Real Estate · 24.09 -1.8% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Four Corners Property Trust, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Company-1.8% todayVolume comparison unavailable
Market group0 of 12 activeREITs · unavailable
Disclosed network0 of 0 confirmingRelationship data unavailable
What would change this read
  • Interest expense rose vs prior year primarily due to a net $50.0M increase in term loans in April 2026 (reported increases: $1.1M six months, $0.7M three months).
  • Total restaurant expenses increased $0.8M (six months) and $0.4M (three months) vs prior year, primarily attributable to higher commodity costs.

Invalidation: The isolated read changes if FCPT's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Real Estate · REIT - Retail

No new filing conclusion is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Interest expense rose vs prior year primarily due to a net $50.0M increase in term loans in April 2026 (reported increases: $1.1M six months, $0.7M three months).
  • Total restaurant expenses increased $0.8M (six months) and $0.4M (three months) vs prior year, primarily attributable to higher commodity costs.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements63
Verified relationships1
Evidence supporting the case
  • Net margin changed +32.1 percentage points in the latest annual period.
  • Operating cash flow covered net income at 1.71x in the latest annual period.
Evidence challenging the case
  • Diluted shares increased 9.4% in the latest annual period.
Questions before a position
  • P/E is 30% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 909% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

24.09
6m-5.4%12m-7.4%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$26.6M+63.8%$1.11+7.3%
2022-12-31$29.6M+11.4%$1.20+6.5%
2023-12-31$30.7M+3.9%$1.07+8.5%
2024-12-31$30.9M+0.7%$1.07+6.0%
2025-12-31$31.5M+1.8%$1.09+9.4%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 5 filings
Interest expense increased by $1.1 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025, primarily due to the net increase in term loans of $50 million in April 2026.
10-Q · Jul 30, 2026
Supply chain and availabilitynegative · 5 filings
GAAP, the noncontrolling interest of FCPT OP is shown as a component of equity on our Consolidated Balance Sheets, and the portion of income allocable to third parties is shown as net income attributable to noncontrolling interests in our Consolidated Income…
10-Q · Jul 30, 2026
Energy and commodity pricesmixed · 2 filings
Total restaurant expenses increased by $0.8 million during the six months ended June 30, 2026 compared to the six months ended June 30, 2025, primarily attributable to higher commodity costs.
10-Q · Jul 30, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 78.8× · EV/sales 116.6×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

24.09-1.8% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for FCPT. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for FCPT. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind FCPT

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Filing peers

No filing peers are available for this name yet.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

FCPT is currently a Follower in the organic co-movement group REITs. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.