FCPT on NYSE
Four Corners Property Trust, Inc.
The Company was incorporated in Maryland in July 2015.4 From its latest annual report
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerFCPT on NYSE2
- IndustryReal Estate Investment Trusts2
- HeadquartersMill Valley, United States2
- Incorporated inMD3
- Business address591 Redwood Highway, Suite 3215, Mill Valley, Ca 949413
- Filer categoryLarge accelerated filer3
- Legal formStock Corporation2
- LEI549300SVTPZPBDVNER422
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O CORPORATE CREATIONS NETWORK INC., Suite 700, 2 WISCONSIN CIRCLE, 20815 Chevy Chase, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D166200642
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The Company was incorporated in Maryland in July 2015. The Company was formed as a wholly owned subsidiary of Darden Restaurants, Inc. ("Darden") and became an independent publicly traded company four months later following the completion of its separation from Darden in November 2015.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Real Estate, Operations brought in 89% of the revenue Four Corners Property Trust, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Real Estate, Operations | $217.3M | $236.3M | $262.2M |
| Restaurant Operations | $30.7M | $30.9M | $31.5M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Interest32¢$51.9M
- Income tax0¢$303.0K
- Profit68¢$112.4M
Out of $31.5M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid75¢$144.0M
- Kept or used elsewhere25¢$48.3M
Out of $192.3M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Rental | $262.6M | $237.1M | $219.9M |
| Restaurant | $31.5M | $30.9M | $30.7M |
| Total revenues | $294.1M | $268.1M | $250.6M |
| General and administrative | $26.8M | $23.8M | $22.7M |
| Depreciation and amortization | $60.4M | $54.5M | $50.7M |
| Total operating expenses | $130.3M | $118.9M | $113.7M |
| Interest expense | -$51.9M | -$49.2M | -$44.6M |
| Other income, net | $800.0K | $963.0K | $919.0K |
| Realized gain on sale, net | $0 | $0 | $2.3M |
| Income tax expense | -$303.0K | -$308.0K | -$130.0K |
| Net income | $112.5M | $100.6M | $95.5M |
| Net income attributable to noncontrolling interest | -$124.0K | -$122.0K | -$122.0K |
| Net Income Available to Common Shareholders | $112.4M | $100.5M | $95.3M |
| Basic net income per share (in usd per share) | $1.09 | $1.07 | $1.08 |
| Diluted net income per share (in usd per share) | $1.09 | $1.07 | $1.07 |
| Basic (in shares) | 102.7M shares | 93.6M shares | 88.5M shares |
| Diluted (in shares) | 102.9M shares | 94.1M shares | 88.7M shares |
| Dividends declared per common share (in usd per share) | $1.43 | $1.39 | $1.36 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land | $1.5B | $1.4B | ||
| Buildings, equipment and improvements | $2.0B | $1.8B | ||
| Total real estate investments | $3.5B | $3.2B | ||
| Less: accumulated depreciation | -$817.0M | -$775.5M | ||
| Real estate investments, net | $2.7B | $2.4B | ||
| Intangible real estate assets, net | $129.4M | $123.6M | ||
| Total real estate investments and intangible real estate assets, net | $2.8B | $2.5B | ||
| Cash and cash equivalents | $12.1M | $4.1M | $16.3M | |
| Straight-line rent adjustment | $71.8M | $68.6M | ||
| Derivative assets | $9.4M | $20.7M | ||
| Deferred tax assets | $1.7M | $1.4M | ||
| Other assets | $15.7M | $11.4M | ||
| Total Assets | $2.9B | $2.7B | ||
| Term loan and revolving credit facility, net of deferred financing costs | $581.9M | $516.2M | ||
| Senior unsecured notes, net of deferred financing costs | $622.3M | $621.6M | ||
| Dividends payable | $39.6M | $35.4M | $31.5M | |
| Rent received in advance | $17.9M | $6.7M | ||
| Derivative liabilities | $5.1M | $473.0K | ||
| Other liabilities | $24.2M | $21.8M | ||
| Total liabilities | $1.3B | $1.2B | ||
| Preferred stock, par value $0.0001 per share, 25,000,000 authorized, zero shares issued and outstanding. | $0 | $0 | ||
| Common stock, $0.0001 par value per share, 500,000,000 shares authorized, 108,188,605 and 99,825,119 shares issued and outstanding, respectively | $11.0K | $10.0K | ||
| Additional paid-in capital | $1.7B | $1.5B | ||
| Accumulated deficit | -$93.6M | -$57.7M | ||
| Accumulated other comprehensive income | $7.7M | $23.6M | ||
| Noncontrolling interest | $2.1M | $2.2M | ||
| Total equity | $1.6B | $1.5B | $1.3B | $1.1B |
| Total Liabilities and Equity | $2.9B | $2.7B | ||
| Preferred stock, par value (in usd per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 25.0M shares | 25.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in usd per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued (in shares) | 108.2M shares | 99.8M shares | ||
| Common stock, shares outstanding (in shares) | 108.2M shares | 99.8M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land | $1.5B | $1.4B | ||
| Buildings, equipment and improvements | $2.0B | $1.8B | ||
| Total real estate investments | $3.5B | $3.2B | ||
| Less: accumulated depreciation | -$817.0M | -$775.5M | ||
| Real estate investments, net | $2.7B | $2.4B | ||
| Intangible real estate assets, net | $129.4M | $123.6M | ||
| Total real estate investments and intangible real estate assets, net | $2.8B | $2.5B | ||
| Cash and cash equivalents | $12.1M | $4.1M | $16.3M | |
| Straight-line rent adjustment | $71.8M | $68.6M | ||
| Derivative assets | $9.4M | $20.7M | ||
| Deferred tax assets | $1.7M | $1.4M | ||
| Other assets | $15.7M | $11.4M | ||
| Total Assets | $2.9B | $2.7B | ||
| Term loan and revolving credit facility, net of deferred financing costs | $581.9M | $516.2M | ||
| Senior unsecured notes, net of deferred financing costs | $622.3M | $621.6M | ||
| Dividends payable | $39.6M | $35.4M | $31.5M | |
| Rent received in advance | $17.9M | $6.7M | ||
| Derivative liabilities | $5.1M | $473.0K | ||
| Other liabilities | $24.2M | $21.8M | ||
| Total liabilities | $1.3B | $1.2B | ||
| Preferred stock, par value $0.0001 per share, 25,000,000 authorized, zero shares issued and outstanding. | $0 | $0 | ||
| Common stock, $0.0001 par value per share, 500,000,000 shares authorized, 108,188,605 and 99,825,119 shares issued and outstanding, respectively | $11.0K | $10.0K | ||
| Additional paid-in capital | $1.7B | $1.5B | ||
| Accumulated deficit | -$93.6M | -$57.7M | ||
| Accumulated other comprehensive income | $7.7M | $23.6M | ||
| Noncontrolling interest | $2.1M | $2.2M | ||
| Total equity | $1.6B | $1.5B | $1.3B | $1.1B |
| Total Liabilities and Equity | $2.9B | $2.7B | ||
| Preferred stock, par value (in usd per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 25.0M shares | 25.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in usd per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued (in shares) | 108.2M shares | 99.8M shares | ||
| Common stock, shares outstanding (in shares) | 108.2M shares | 99.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $112.5M | $100.6M | $95.5M |
| Depreciation and amortization | $59.6M | $54.5M | $50.7M |
| Impairment of long-lived assets | $827.0K | $0 | $0 |
| Gain on disposal of land, building, and equipment | $0 | $0 | -$2.3M |
| Non-cash revenue adjustments | $1.9M | $2.1M | $2.1M |
| Amortization of financing costs | $3.2M | $2.6M | $2.3M |
| Stock-based compensation expense | $8.9M | $7.0M | $6.3M |
| Deferred income taxes | -$231.0K | -$200.0K | -$259.0K |
| Derivative assets and liabilities | -$64.0K | -$618.0K | $8.3M |
| Straight-line rent adjustment | -$3.2M | -$3.8M | -$5.5M |
| Rent received in advance | $11.2M | -$7.6M | $2.6M |
| Intangible assets (lease incentives) | -$97.0K | -$1.6M | -$1.2M |
| Other assets and liabilities | -$2.2M | -$8.8M | $6.7M |
| Net cash provided by operating activities | $192.3M | $144.1M | $165.1M |
| Purchases of real estate investments | -$325.5M | -$273.0M | -$341.1M |
| Proceeds from sale of real estate investments | $0 | $0 | $27.8M |
| Other | $250.0K | $100.0K | $508.0K |
| Net cash used in investing activities | -$325.2M | -$272.9M | -$312.8M |
| Proceeds from ATM equity issuance, net of issuance costs | $225.2M | $215.9M | $153.4M |
| Proceeds from issuance of senior notes | $0 | $0 | $100.0M |
| Repayment of senior notes | $0 | -$50.0M | $0 |
| Proceeds from term loan borrowing | $75.0M | $85.0M | $0 |
| Payment of deferred financing costs | -$6.9M | -$1.4M | -$1.1M |
| Proceeds from revolving credit facility | $187.0M | $217.0M | $145.0M |
| Repayment of revolving credit facility | -$192.0M | -$228.0M | -$129.0M |
| Payment of dividend to shareholders | -$144.0M | -$128.1M | -$119.7M |
| Distribution to non-controlling interests | -$164.0K | -$159.0K | -$157.0K |
| Shares withheld for taxes upon vesting | -$3.2M | -$2.1M | -$2.3M |
| Net cash provided by financing activities | $141.0M | $108.1M | $146.2M |
| Net increase (decrease) in cash and cash equivalents, including restricted cash | $8.1M | -$20.7M | -$1.5M |
| Interest paid | $57.9M | $59.1M | $49.5M |
| Taxes paid | $564.0K | $449.0K | $369.0K |
| Operating lease payments received (lessor) | $249.4M | $225.4M | $207.3M |
| Operating lease payments remitted (lessee) | $794.0K | $926.0K | $905.0K |
| Change in fair value of derivative instruments | -$15.9M | $2.3M | -$17.3M |
No quarter-by-quarter statement was filed.
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Leadership
Who has led Four Corners Property Trust, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
20202025
- Chief executive officerWilliam H. Lenehan Oct 21, 2015 to now13
- PresidentWilliam H. Lenehan Oct 21, 2015 to now13
- Chief financial officerPatrick L. Wernig May 9, 2024 to now14
- Chief financial officerGerald R. Morgan Oct 21, 2015 to Apr 16, 202415
Board members and other officers (13)
- Chief Operations OfficerJames L. Brat Jan 24, 2023 to now16
- Chief Accounting OfficerNiccole Stewart Jan 29, 2018 to now17
- Board memberMichael Lawrence Friedland Apr 13, 2026 to now18
- Board memberBarbara Angelica Faylona Jesuele Mar 10, 2023 to now19
- Board memberElizabeth Tennican Nov 5, 2020 to now20
- Board memberToni S. Steele Nov 5, 2020 to now21
- Board memberCharles Jemley Sep 14, 2017 to now22
- Board memberEric Hirschhorn Nov 9, 2017 to Oct 17, 202223
- Board memberPaul E. Szurek Oct 21, 2015 to Apr 16, 202124
- Board memberWilliam H. Lenehan Oct 21, 2015 to now13
- Board memberDouglas B. Hansen Nov 10, 2015 to now25
- Board memberMarran H. Ogilvie Nov 12, 2015 to now26
- General counselJames L. Brat Nov 10, 2015 to Jan 18, 202327
Timeline
Filings
472 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 55 major events, 341 insider forms, 30 large holders, 26 other. The latest 20:
- Oct 14, 20268-K EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
The 472 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
26 open-market trades by officers, directors and large owners since October 2021: 16 buys and 10 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 5, 2026 | Lenehan William HPresident and CEO | Buy | 3,961 | $25.23 | $99.9K | Form 4 |
| Mar 13, 2026 | Stewart NiccoleChief Accounting Officer | Sale | 2,427 | $25.97 | $63.0K | Form 4 |
| Mar 11, 2026 | Lenehan William HPresident and CEO | Buy | 3,924 | $25.45 | $99.9K | Form 4 |
| Mar 6, 2026 | Lenehan William HPresident and CEO | Buy | 7,865 | $25.49 | $200.5K | Form 4 |
| Feb 18, 2026 | Lenehan William HPresident and CEO | Buy | 10,080 | $24.73 | $249.3K | Form 4 |
| Feb 17, 2026 | Steele Toni SDirector | Sale | 815 | $24.49 | $20.0K | Form 4 |
| Nov 3, 2025 | Steele Toni SDirector | Sale | 838 | $23.90 | $20.0K | Form 4 |
| Oct 31, 2025 | HANSEN DOUGLAS BDirector | Buy | 1,984 | $23.64 | $46.9K | Form 4 |
| Sep 16, 2025 | Stewart NiccoleChief Accounting Officer | Sale | 3,950 | $25.30 | $99.9K | Form 4 |
| Sep 12, 2025 | Lenehan William HPresident and CEO | Buy | 7,850 | $25.40 | $199.4K | Form 4 |
| Aug 4, 2025 | Steele Toni SDirector | Sale | 778 | $25.71 | $20.0K | Form 4 |
| Jun 9, 2025 | MOODY JOHN SDirector | Sale | 7,667 | $27.42 | $210.2K | Form 4 |
| Apr 15, 2025 | Stewart NiccoleChief Accounting Officer | Sale | 9,100 | $27.28 | $248.2K | Form 4 |
| Jun 12, 2024 | MOODY JOHN SDirector | Sale | 7,230 | $24.56 | $177.6K | Form 4 |
| Jun 10, 2024 | Lenehan William HPresident and CEO | Buy | 6,230 | $24.05 | $149.8K | Form 4 |
| Nov 7, 2023 | HANSEN DOUGLAS BDirector | Buy | 4,950 | $21.74 | $107.6K | Form 4 |
| Nov 6, 2023 | Lenehan William HPresident and CEO | Buy | 9,000 | $22.05 | $198.4K | Form 4 |
| Jun 15, 2023 | MOODY JOHN SDirector | Sale | 7,200 | $26.25 | $189.0K | Form 4 |
| Jun 7, 2023 | HANSEN DOUGLAS BDirector | Buy | 9,425 | $26.53 | $250.0K | Form 4 |
| Jun 6, 2023 | Lenehan William HPresident and CEO | Buy | 7,600 | $26.06 | $198.1K | Form 4 |
All 26 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- FMR LLCSCHEDULE 13G/A, 11 filings Feb 9, 2022 to Aug 6, 202628
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202629
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202630
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Mar 26, 202631
- VICTORY CAPITAL MANAGEMENT INCSCHEDULE 13G/A, 3 filings Feb 1, 2023 to Oct 31, 202532
- BlackRockSC 13G/A, 2 filings Oct 18, 2024 to Nov 8, 202433
- State Street CorporationSC 13G/A, 3 filings Feb 11, 2022 to Jan 30, 202434
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 19,975,819 | $490.4M | 0.0% | −9,154 |
| Fmr LLC | 7,108,538 | $174.5M | 0.0% | −1,573,640 |
| Vanguard Portfolio Management LLC | 7,100,385 | $174.3M | 0.0% | +448,850 |
| State Street Corp | 6,284,795 | $156.6M | 0.0% | +195,120 |
| Vanguard Capital Management LLC | 4,919,393 | $120.8M | 0.0% | +13,796 |
| Victory Capital Management Inc | 3,811,101 | $93.6M | 0.1% | −115,866 |
| Capital International Investors | 3,400,126 | $83.5M | 0.0% | +93,439 |
| Geode Capital Management, LLC | 3,133,748 | $76.9M | 0.0% | +242,817 |
| Two Sigma Investments, LP | 2,912,537 | $71.5M | 0.1% | −362,434 |
| Lasalle Investment Management Securities LLC | 2,834,942 | $69.6M | 2.5% | +269,208 |
| Earnest Partners LLC | 2,587,236 | $63.5M | 0.2% | −44,647 |
| Sumitomo Mitsui Trust Group, Inc. | 2,541,403 | $62.4M | 0.0% | +195,976 |
| Charles Schwab Investment Management Inc | 2,108,690 | $51.8M | 0.0% | +110,530 |
| Westwood Holdings Group Inc | 2,083,209 | $51.1M | 0.4% | −735,736 |
| Goldman Sachs Group Inc | 1,980,841 | $48.6M | 0.0% | +788,423 |
| Hudson Bay Capital Management LP | 1,631,387 | $40.1M | 0.2% | New |
| Nomura Asset Management International Inc. | 1,590,912 | $39.1M | 0.1% | +34,004 |
| Callodine Capital Management, LP | 1,541,807 | $37.9M | 2.5% | −23,800 |
| Dimensional Fund Advisors LP | 1,499,526 | $36.8M | 0.0% | +15,434 |
| Northern Trust Corp | 1,380,196 | $33.9M | 0.0% | +164,724 |
| Nuveen, LLC | 1,277,492 | $31.4M | 0.0% | −792,289 |
| Morgan Stanley | 1,276,330 | $31.3M | 0.0% | +11,674 |
| Principal Financial Group Inc | 1,258,131 | $30.9M | 0.0% | −311,254 |
| Boston Trust Walden Corp | 1,186,675 | $29.1M | 0.2% | −52,685 |
| Bank Of America Corp /de/ | 1,181,265 | $29.0M | 0.0% | −135,914 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
5 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Aug 4, 2025 | Lisa C. McClainRepublican, House | Sale | $1,001 - $15,000 | +36.6% | Report |
| Jul 16, 2025 | Lisa C. McClainRepublican, House | Buy | $1,001 - $15,000 | −40.2% | Report |
| Jun 11, 2025 | Lisa C. McClainRepublican, House | Partial sale | $1,001 - $15,000 | +48.5% | Report |
| Jun 9, 2025 | Lisa C. McClainRepublican, House | Buy | $1,001 - $15,000 | −49.6% | Report |
| Jul 12, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $1,001 - $15,000 | +88.6% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 20SEC EDGARElizabeth Tennican, Board member
- 21SEC EDGARToni S. Steele, Board member
- 22SEC EDGARCharles Jemley, Board member
- 23SEC EDGAREric Hirschhorn, Board member
- 24SEC EDGARPaul E. Szurek, Board member
- 25SEC EDGARDouglas B. Hansen, Board member
- 26SEC EDGARMarran H. Ogilvie, Board member
- 27SEC EDGARJames L. Brat, General counsel
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