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Four Corners Property: 3Q Earnings Snapshot

·1 min read

MILL VALLEY, Calif. (AP) _ Four Corners Property Trust Inc. (FCPT) on Tuesday reported a key measure of profitability in its third quarter.

The real estate investment trust, based in Mill Valley, California, said it had funds from operations of $26.3 million, or 37 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 $19.3 million, or 27 cents per share.

The real estate investment trust posted revenue of $43 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $42.3 million.

The company's shares have fallen 6.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.36, a decrease of nearly 7% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCPT at https://www.zacks.com/ap/FCPT