MILL VALLEY, Calif. – MILL VALLEY, Calif. (AP) _ Four Corners Property Trust Inc. (FCPT) on Monday reported a key measure of profitability in its third quarter.
The Mill Valley, California-based real estate investment trust said it had funds from operations of $23.3 million, or 35 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 $17.5 million, or 27 cents per share.
The real estate investment trust posted revenue of $36.1 million in the period.
The company's shares have increased almost 3 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $26.42, a rise of almost 7 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on FCPT at https://www.zacks.com/ap/FCPT