FCPT

EX-99.1

2 fcpt-ex99_1.htm

EX-99.1

EX-99.1

FCPT Announces Third Quarter 2026 Financial and Operating Results

MILL VALLEY, CA – October 28, 2026 / Business Wire – Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three and nine months ended September 30, 2026.

Management Comments

“We acquired more than $326 million in net lease properties during the quarter. This volume was a record for FCPT and was funded entirely with low-cost debt. This summer, we also successfully refinanced and upsized our credit facility to significantly extend our maturity profile. As expected, we also recently extended 100% of Olive Garden and LongHorn leases maturing in 2027 without landlord concessions,” said Bill Lenehan, Chief Executive Officer. “Our portfolio is in great shape, and as we look forward, we remain as focused as ever on accretive capital allocation. As such and given current market conditions, we have announced our inaugural share repurchase program. At the current share price, we view share repurchases as delivering more value than property purchases. That said, we have started to see new acquisitions being priced at higher cap rates. We will continue to modulate our capital allocation decisions to maximize shareholder value creation.”

Rent Collection Update

As of September 30, 2026, the Company has received rent payments representing 99.7% of its portfolio contractual base rent for the quarter ending September 30, 2026.

Financial Results

Rental Revenue and Net Income Attributable to Common Shareholders

• Rental revenue for the third quarter increased 13.8% over the prior year to $75.7 million. Rental revenue consisted of $75.2 million in cash rents and $502 thousand of combined straight-line and other non-cash rent adjustments.

• Net income attributable to common shareholders was $28.8 million for the third quarter, or $0.26 per diluted share. These results compare to net income attributable to common shareholders of $28.8 million for the same quarter in the prior year, or $0.28 per diluted share.

• Net income attributable to common shareholders was $89.1 million for the nine months ended September 30, 2026, or $0.81 per diluted share. These results compare to net income attributed to common shareholders of $82.9 million for the same nine-month period in 2025, or $0.81 per diluted share.

Adjusted Funds from Operations (AFFO)

• AFFO per diluted share for the third quarter was $0.46, representing 2.9% growth compared to the same quarter in 2025.

• AFFO per diluted share for the nine months ended September 30, 2026 was $1.36, representing 2.7% growth compared to the same nine-month period in 2025.

Funds from Operations (FFO)

• NAREIT-defined FFO per diluted share for the third quarter was $0.43, representing 2.4% growth compared to the same quarter in 2025.

• NAREIT-defined FFO per diluted share for the nine months ended September 30, 2026 was $1.27,

representing 2.2% growth compared to the same nine-month period in 2025.

General and Administrative (G&A) Expense

• G&A expense for the third quarter was $6.9 million, which included $2.1 million of stock-based compensation. These results compare to G&A expense in the third quarter of 2025 of $6.5 million, including $2.2 million of stock-based compensation.

• Cash G&A expense (after excluding stock-based compensation) for the third quarter was $4.7 million, representing 6.3% of cash rental income for the quarter, compared to $4.3 million of cash G&A in the third quarter of 2025 representing 6.5% of cash rental income.

Dividends

• FCPT declared monthly dividends for the months of October, November, and December of $0.1265 per common share (equivalent to $1.5180 per share per annum). This represents a 3.5% increase from the prior quarter.

Real Estate Portfolio

• As of September 30, 2026, the Company’s rental portfolio consisted of 1,456 properties located in 48 states. The properties are 99.5% occupied (measured by square feet) under long-term, net leases with a weighted average remaining lease term of approximately 6.7 years.

Acquisitions

• During the third quarter, FCPT acquired 120 properties for a combined purchase price of $326.3 million at an initial weighted average cash yield of 6.6%, on rents in place as of September 30, 2026, or a 7.1% GAAP yield and a weighted average remaining lease term of 9.6 years. The properties were approximately 87% medical retail, 5% casual dining and quick service restaurants, 5% auto, and 4% other retail by purchase price.

Dispositions

• During the third quarter ended September 30, 2026, FCPT did not sell any properties.

Liquidity and Capital Markets

Liquidity

• On September 30, 2026, FCPT had approximately $397 million of available liquidity including $7 million of cash and cash equivalents, $40 million of undrawn delayed draw term loans, and $350 million of capacity under the revolving credit facility.

Equity Activity

• FCPT’s Boa

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