U.S. Markets open in 6 hrs 9 mins

Four Corners Property reports 4Q results

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

The Mill Valley, California-based real estate investment trust said it had funds from operations of $18.8 million, or 31 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 $32.5 million, or 54 cents per share.

The real estate investment trust, based in Mill Valley, California, posted revenue of $31.3 million in the period.

For the year, the company reported funds from operations of $72.8 million, or $1.22 per share. Revenue was reported as $124 million.

The company's shares have risen 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.99, a climb of 35 percent in the last 12 months.


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


Keywords: Four Corners Property Trust, Earnings Report