Key Highlights:

  • Rental revenue increased USD 5.2 million, or 8%, in the most recently reported quarter.
  • The increase was due primarily to the acquisition of 91 leased properties during the period.
  • Restaurant revenues increased USD 0.4 million, or 4%, for the quarter.
  • Six month rental revenue increased USD 11.6 million, or 9%, year over year.

Four Corners Property Trust, Inc. (NYSE:FCPT) is scheduled to report third quarter results on Wednesday, Oct. 28, after the market close. Consensus estimates call for adjusted earnings per share of USD 0.29 on revenue of USD 82.44 million, against a market capitalization of USD 2.46 billion.

In the most recently reported quarter, rental revenue increased USD 5.2 million, or 8%, compared with the same period of the prior year, which the company attributed primarily to the acquisition of 91 leased properties during the period.

Restaurant Operations

The company also generates revenue by operating seven LongHorn Steakhouse restaurants in the San Antonio, Texas area under franchise agreements with Darden Restaurants. Restaurant revenues increased USD 0.4 million, or 4%, during the quarter, which the company said was primarily due to increased guest counts and higher average spend per guest.

Figures to Follow in the Release

Investors can watch rental revenue growth against the 8% rate posted last quarter and for continued contribution from the 91 leased properties acquired during the period.