FCPT on NYSE
Four Corners Property Trust, Inc.
American real estate investment trust based in Mill Valley2
In its 2026 annual report the company says: “We are a real estate investment trust which owns, acquires and leases properties for use in the restaurant and retail industries. Our revenues are primarily generated by leasing properties to tenants through net lease arrangements under which the tenants are primarily responsible for ongoing costs relating to the properties, including utilities, property taxes, insurance, common area maintenance charges, and maintenance and repair costs. We focus on income producing properties leased to high quality tenants in major markets across the United States.”5 Its shares trade on NYSE under the symbol FCPT.2
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Last updated Oct 21, 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 2015.5 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.6
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.6
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| 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.6
| 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.6
| 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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Corporate structure
Four Corners Property Trust, Inc. sits at the top of its group. 20 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Four Corners Property Trust, Inc.
- FMR LLC Filed SCHEDULE 13G/A on Four Corners Property Trust, Inc., latest Aug 6, 2026 (11 filings since Feb 9, 2022)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Four Corners Property Trust, Inc., latest Apr 29, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Four Corners Property Trust, Inc., latest Apr 29, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Four Corners Property Trust, Inc., latest Mar 26, 2026 (4 filings since Feb 10, 2022)
- VICTORY CAPITAL MANAGEMENT INC Filed SCHEDULE 13G/A on Four Corners Property Trust, Inc., latest Oct 31, 2025 (3 filings since Feb 1, 2023)
- BlackRock Filed SCHEDULE 13G/A on Four Corners Property Trust, Inc., latest Jul 17, 2025 (8 filings since Jan 26, 2022)
- State Street Corporation Filed SC 13G/A on Four Corners Property Trust, Inc., latest Jan 30, 2024 (3 filings since Feb 11, 2022)
- Four Corners Property Trust, Inc. Mill Valley, United States
- FCPT Acquisitions, LLC Subsidiary · Delaware, United States
- FCPT Garden Properties, LLC Subsidiary · Delaware, United States
- FCPT Holdings, LLC Subsidiary · Delaware, United States
- FCPT Hospitality Properties, LLC Subsidiary · Delaware, United States
- FCPT International Drive, LLC Subsidiary · Delaware, United States
- FCPT Keystone Properties 11, LLC Subsidiary · Delaware, United States
- FCPT Keystone Properties, LLC Subsidiary · Delaware, United States
- FCPT OP Holdings, LP Subsidiary · Delaware, United States
- FCPT PA Hospitality Properties 11, LLC Subsidiary · Delaware, United States
- FCPT PA Hospitality Properties, LLC Subsidiary · Delaware, United States
- FCPT Remington Properties, LLC Subsidiary · Delaware, United States
- FCPT Restaurant Properties, LLC Subsidiary · Delaware, United States
- FCPT Sunshine Properties, LLC Subsidiary · Delaware, United States
- FCPT SW Properties, LLC Subsidiary · Delaware, United States
- FCPT TRS, LLC Subsidiary · Delaware, United States
- Four Corners GP, LLC Subsidiary · Delaware, United States
- Four Corners Operating Partnership, LP Subsidiary · Delaware, United States
- Kerrow Holdings, LLC Subsidiary · Texas, United States
- Kerrow Restaurants, LLC Subsidiary · Texas, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Four Corners Property Trust, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land | $1.5B6 Dec 31, 2025 | $1.4B6 Dec 31, 2024 | +10.2% |
| Finance-lease assets | $14.0M6 Dec 31, 2025 | $14.0M6 Dec 31, 2024 | 0% |
| Operating-lease assets (leased space) | $4.8M6 Dec 31, 2025 | $3.4M6 Dec 31, 2024 | +41.0% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $2.7B6 Dec 31, 2025 | $2.4B6 Dec 31, 2024 | +10.6% |
| Real estate investments, at cost | $3.5B6 Dec 31, 2025 | $3.2B6 Dec 31, 2024 | +9.3% |
| Real estate accumulated depreciation | $817.0M6 Dec 31, 2025 | $775.5M6 Dec 31, 2024 | +5.3% |
| Restaurants | 3166 Dec 31, 2025 | 31410 Dec 31, 2024 | +0.6% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $12.1M6 Dec 31, 2025 | $4.1M6 Dec 31, 2024 | +197.6% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $129.4M6 Dec 31, 2025 | $123.6M6 Dec 31, 2024 | +4.7% |
| Finite-lived intangibles, net | $107.2M6 Dec 31, 2025 | $100.7M10 Dec 31, 2024 | +6.5% |
Inventory
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 now14
- PresidentWilliam H. Lenehan Oct 21, 2015 to now14
- Chief financial officerPatrick L. Wernig May 9, 2024 to now15
- Chief financial officerGerald R. Morgan Oct 21, 2015 to Apr 16, 202416
Board members and other officers (13)
- Chief Operations OfficerJames L. Brat Jan 24, 2023 to now17
- Chief Accounting OfficerNiccole Stewart Jan 29, 2018 to now18
- Board memberMichael Lawrence Friedland Apr 13, 2026 to now19
- Board memberBarbara Angelica Faylona Jesuele Mar 10, 2023 to now20
- Board memberElizabeth Tennican Nov 5, 2020 to now21
- Board memberToni S. Steele Nov 5, 2020 to now22
- Board memberCharles Jemley Sep 14, 2017 to now23
- Board memberEric Hirschhorn Nov 9, 2017 to Oct 17, 202224
- Board memberPaul E. Szurek Oct 21, 2015 to Apr 16, 202125
- Board memberWilliam H. Lenehan Oct 21, 2015 to now14
- Board memberDouglas B. Hansen Nov 10, 2015 to now26
- Board memberMarran H. Ogilvie Nov 12, 2015 to now27
- General counselJames L. Brat Nov 10, 2015 to Jan 18, 202328
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- FCPT Acquisitions, LLC Delaware4
- FCPT Garden Properties, LLC Delaware4
- FCPT Holdings, LLC Delaware4
- FCPT Hospitality Properties, LLC Delaware4
- FCPT International Drive, LLC Delaware4
- FCPT Keystone Properties 11, LLC Delaware4
- FCPT Keystone Properties, LLC Delaware4
- FCPT OP Holdings, LP Delaware4
- FCPT PA Hospitality Properties 11, LLC Delaware4
- FCPT PA Hospitality Properties, LLC Delaware4
- FCPT Remington Properties, LLC Delaware4
- FCPT Restaurant Properties, LLC Delaware4
- FCPT SW Properties, LLC Delaware4
- FCPT Sunshine Properties, LLC Delaware4
- FCPT TRS, LLC Delaware4
- Four Corners GP, LLC Delaware4
- Four Corners Operating Partnership, LP Delaware4
- Kerrow Holdings, LLC Texas4
- Kerrow Restaurants, LLC Texas4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Oct 14, 20268-K Regulation FD disclosure29
- Jul 29, 20268-K Results of operations; Regulation FD disclosure30
- Jul 28, 20268-K Regulation FD disclosure31
- Jul 16, 20268-K Regulation FD disclosure; Other events32
- Jun 8, 20268-K Shareholder vote33
- Jun 1, 20268-K Regulation FD disclosure; Other events34
- Apr 29, 20268-K Results of operations; Regulation FD disclosure35
- Apr 7, 20268-K Entered a material agreement; New debt or obligation; Regulation FD disclosure36
- Apr 1, 20268-K Executive or director change37
- Feb 11, 20268-K Results of operations; Regulation FD disclosure38
- Dec 1, 20258-K Regulation FD disclosure39
- Nov 6, 20258-K Entered a material agreement40
- Oct 21, 2015New chief executive William H. Lenehan becomes CEO14
- Jul 1, 2015Founded Four Corners Property Trust, Inc. is founded2
Calendar
Coming up
- Oct 28, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.45 a share, on Oct 28, 2025.41
When it reported results
- Jul 29, 2026Reported quarterly or annual results30
- Apr 29, 2026Reported quarterly or annual results35
- Feb 11, 2026Reported quarterly or annual results38
- Oct 28, 2025Reported quarterly or annual results42
- Jul 29, 2025Reported quarterly or annual results43
- Apr 30, 2025Reported quarterly or annual results44
- Feb 12, 2025Reported quarterly or annual results45
- Oct 30, 2024Reported quarterly or annual results46
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
473 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 55 major events, 341 insider forms, 31 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 473 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, 202647
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202648
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202649
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Mar 26, 202650
- VICTORY CAPITAL MANAGEMENT INCSCHEDULE 13G/A, 3 filings Feb 1, 2023 to Oct 31, 202551
- BlackRockSCHEDULE 13G/A, 8 filings Jan 26, 2022 to Jul 17, 202552
- State Street CorporationSC 13G/A, 3 filings Feb 11, 2022 to Jan 30, 202453
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | William H. LenehanPresident and Chief Executive Officer | 49 | $905.8K | $5.7M54 |
| 2025 | James L. BratChief Operations Officer, Chief Legal Officer and Secretary | 56 | $487.5K | $1.9M54 |
| 2025 | Patrick L. WernigChief Financial Officer and Treasurer | 38 | $454.8K | $1.6M54 |
| 2024 | William H. LenehanPresident and Chief Executive Officer | 49 | $862.6K | $4.6M54 |
| 2024 | Patrick L. WernigChief Financial Officer and Treasurer | 38 | $294.0K | $1.5M54 |
| 2024 | James L. BratChief Operations Officer, Chief Legal Officer and Secretary | 56 | $448.1K | $1.4M54 |
| 2023 | William H. LenehanPresident and Chief Executive Officer | 49 | $670.0K | $5.3M54 |
| 2023 | James L. BratChief Operations Officer, Chief Legal Officer and Secretary | 56 | $435.0K | $2.0M54 |
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).
SEC filer profile
How Four Corners Property Trust, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFour Corners Property Trust, Inc.1
- CIK0001650132
- Employer ID (EIN)47-44562965
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inMaryland5
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address591 Redwood Highway, Suite 3215, Mill Valley, CA 949411
- Phone415-965-80301
- Shares outstanding109,756,406 as of Jul 30, 202612
- Public float$2.7B as of Jun 30, 20255
- AuditorKPMG LLP, San Francisco, California PCAOB ID 185; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceAug 11, 20151
- Filings1,009 in all: 4 (671), 8-K (143), SC 13G/A (38), 10-Q (33), 3 (16), 424B5 (13), DEFA14A (12), 10-K (11)1
All 25 form types
DEF 14A (11), SC 13G (10), CORRESP (8), SCHEDULE 13G/A (8), UPLOAD (8), 10-12B/A (5), 4/A (4), S-3ASR (4), 144 (3), S-8 (2), SC 13D/A (2), SCHEDULE 13G (2), 10-12B (1), 3/A (1), 8-K/A (1), CERTNYS (1), SC 13D (1)
- Latest filingsAnnual report (10-K) Feb 12, 2026
Quarterly report (10-Q) Jul 30, 2026
Proxy statement (DEF 14A) Apr 16, 2026
Latest 8-K (8-K) Oct 14, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.0001 par value per share | FCPT | New York Stock Exchange |
From the cover page of the 10-K filed Feb 12, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Four Corners Property Trust, Inc. names in Item 1A of its 10-K filed Feb 12, 2026: 45 risks under these headings, as written.5
- Risks related to real estate ownership could reduce the value of our properties, which could materially and adversely affect us.
- We are dependent on Darden to make payments to us and fulfill its obligations under its leases, as well as to provide services to us under the Franchise Agreements, and an event that materially and adversely affects Darden’s business, financial position or results of operations could materially and adversely affect our business, financial position or results of operations.
- We are dependent on our major tenants successfully operating their businesses, and a failure to do so could have a material adverse effect on our business, financial position or results of operations.
- Actual or perceived threats associated with epidemics, pandemics or public health crises could have a material adverse effect on our and our tenants’ businesses, financial condition, results of operations, cash flow, liquidity and ability to access the capital markets and satisfy debt service obligations and make distributions to our stockholders.
- A significant portion of our restaurant properties are Olive Garden properties. Therefore, we are subject to risks associated with having a highly concentrated property brand base.
- We are dependent on the restaurant industry and may be susceptible to the risks associated with it, which could materially adversely affect our business, financial position or results of operations.
- Our portfolio has some geographic concentration, which makes us more susceptible to adverse events in these areas.
- We intend to continue to pursue acquisitions of additional properties and seek other strategic opportunities, which may result in the use of a significant amount of management resources or significant costs, including the cost of accessing debt or equity markets, and we may not fully realize the potential benefits of such transactions.
- Our pursuit of investments in, and acquisitions or development of, additional properties may be unsuccessful or fail to meet our expectations.
- Inflation may materially and adversely affect us and our tenants.
- If we are not able to hire, or if we lose, key management personnel, we may not be able to successfully manage our business and achieve our objectives.
- Failure by our tenants to make rental payments to us, because of a deterioration of their financial condition or otherwise, would have a material adverse effect on us.
The other 33 risks
- Bankruptcy laws will limit our remedies if a tenant becomes bankrupt and rejects its leases.
- The failure of any of our tenants to fulfill their maintenance obligations may have a materially adverse effect on our ability to operate and grow our business.
- We or our tenants may experience uninsured or underinsured losses, which could result in a significant loss of the capital we have invested in a property, decrease anticipated future revenues or cause us to incur unanticipated expense.
- Our tenants’ businesses and our business through the operation of Kerrow are subject to government regulations and changes in current or future laws or regulations could restrict their ability to operate both their and our business in the manner currently contemplated.
- Environmental compliance costs and liabilities associated with real estate properties owned by us may materially impair the value of those investments.
- Our relationship with Darden may adversely affect our ability to do business with third-party restaurant operators and other tenants.
- Real estate investments are relatively illiquid and provisions in our lease agreements may adversely impact our ability to sell properties and could adversely impact the price at which we can sell the properties.
- We may be subject to liabilities and costs associated with the impacts of climate change.
- Compliance with the Americans with Disabilities Act and fire, safety and other regulations may require us to make unanticipated expenditures that materially adversely impact our cash flow.
- Our active management and operation of a restaurant business may expose us to potential liabilities beyond those traditionally associated with REITs.
- We may be vulnerable to security breaches or cyber-attacks which could disrupt our operations and have a material adverse effect on our financial performance and operating results.
- Failure to maintain effective internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act could materially and adversely affect our business and the market price of our common stock.
- If our reputation or our tenants’ reputation are damaged, our business and operating results may be harmed.
- Third-party expectations relating to environmental, social and governance factors may impose additional costs and expose us to new risks.
- Our level of indebtedness could materially and adversely affect our financial position, including reducing funds available for other business purposes and reducing our operational flexibility, and we may have future capital needs and may not be able to obtain additional financing on acceptable terms.
- Covenants in our debt agreements may limit our operational flexibility, and a covenant breach or default could materially and adversely affect our business, financial position or results of operations.
- An increase in market interest rates would increase our interest costs on existing and future debt and could adversely affect our stock price, as well as our ability to refinance existing debt and conduct acquisition activity.
- Hedging transactions could have a negative effect on our results of operations.
- Our charter restricts the ownership and transfer of our outstanding stock, which may have the effect of delaying, deferring or preventing a transaction or change of control of our company.
- Maryland law and provisions in our charter and bylaws may delay or prevent takeover attempts by third parties and therefore inhibit our stockholders from realizing a premium on their stock.
- The ownership by our executive officers and directors of common stock, options or other equity awards of Darden may create, or may create the appearance of, conflicts of interest.
- The market price and trading volume of our common stock may be volatile and may face negative pressure including as a result of future sales or distributions of our common stock.
- We cannot assure shareholders of our ability to pay dividends in the future.
- If we do not qualify as a REIT, or fail to remain qualified as a REIT, we will be subject to U.S. federal income tax as a regular corporation and could face a substantial tax liability, which would reduce the amount of cash available for distribution to our stockholders.
- We could fail to qualify as a REIT if income we receive from Darden and other tenants is not treated as qualifying income.
- Dividends payable by REITs do not qualify for the reduced tax rates available for some dividends.
- REIT distribution requirements could adversely affect our ability to execute our business plan.
- Even if we qualify as a REIT, we may face other tax liabilities that reduce our cash flow.
- Complying with the REIT requirements may cause us to forego otherwise attractive acquisition and business opportunities or liquidate otherwise attractive investments.
- We may acquire properties or portfolios of properties through tax deferred contribution transactions, which could result in stockholder dilution and limit our ability to sell or refinance such assets.
- We may pay dividends on our common stock in common stock and/or cash. Our stockholders may sell shares of our common stock to pay tax on such dividends, placing downward pressure on the market price of our common stock.
- The ability of our Board of Directors to revoke our REIT election without stockholder approval may cause adverse consequences to our stockholders.
- Legislative or other actions affecting REITs could have a negative effect on us.
Legal proceedings
In the ordinary course of our business, we are party to various claims and legal proceedings that management believes are routine in nature and incidental to the operation of our business. Management believes that the outcome of these proceedings will not have a material adverse effect upon our operations, financial condition or liquidity.
The opening of Item 3, Legal Proceedings.5
Sources
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- 21SEC EDGARElizabeth Tennican, Board member
- 22SEC EDGARToni S. Steele, Board member
- 23SEC EDGARCharles Jemley, Board member
- 24SEC EDGAREric Hirschhorn, Board member
- 25SEC EDGARPaul E. Szurek, Board member
- 26SEC EDGARDouglas B. Hansen, Board member
- 27SEC EDGARMarran H. Ogilvie, Board member
- 28SEC EDGARJames L. Brat, General counsel
- 29SEC EDGARRegulation FD disclosure
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- 31SEC EDGARRegulation FD disclosure
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- 33SEC EDGARShareholder vote
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- 37SEC EDGARExecutive or director change
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- 39SEC EDGARRegulation FD disclosure
- 40SEC EDGAREntered a material agreement
- 41NasdaqNasdaq calendar
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