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Four Corners Property Trust, Inc. (FCPT) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Four Corners Property Trust, Inc. (NYSE: FCPT)
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Operator
Good day, and welcome to the FCPT First Quarter 2021 Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Gerry Morgan. Please go ahead.SPONSORED:
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Four Corners Property: Q1 Earnings Snapshot
April 27, 2021 GMT
MILL VALLEY, Calif. (AP) Four Corners Property Trust Inc. (FCPT) on Tuesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Mill Valley, California, said it had funds from operations of $28.8 million, or 38 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $20.6 million, or 27 cents per share.
The real estate investment trust posted revenue of $46.7 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $46.2 million.