Four Corners Property Trust, Inc. (FCPT)

NYSE · Real Estate Investment Trusts

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

19 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-12 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of Four Corners Property Trust, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Four Corners Operating Partnership, LP	Delaware
Kerrow Holdings, LLC	Texas
Kerrow Restaurants, LLC	Texas
FCPT Garden Properties, LLC	Delaware
FCPT Sunshine Properties, LLC	Delaware
FCPT SW Properties, LLC	Delaware
FCPT International Drive, LLC	Delaware
FCPT Keystone Properties 11, LLC	Delaware
Four Corners GP, LLC	Delaware
FCPT Keystone Properties, LLC	Delaware
FCPT Restaurant Properties, LLC	Delaware
FCPT Remington Properties, LLC	Delaware
FCPT Hospitality Properties, LLC	Delaware
FCPT PA Hospitality Properties 11, LLC	Delaware
FCPT PA Hospitality Properties, LLC	Delaware
FCPT Acquisitions, LLC	Delaware
FCPT Holdings, LLC	Delaware
FCPT TRS, LLC	Delaware
FCPT OP Holdings, LP	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 7

PASSReturn on assets positiveROA 3.8%
PASSOperating cash flow positiveOCF 192M
PASSReturn on assets improving3.8% → 3.8%
PASSCash flow exceeds earningsOCF 192M vs NI 112M
PASSLong-term debt ratio falling42.9% → 41.2% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution94M → 103M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.10× → 0.10×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$170.9M	$77.3M	−$139.1M	—	71,609,068
FY2021	$199.4M	$85.6M	−$146.0M	—	76,838,569
FY2022	$223.2M	$97.8M	−$154.3M	—	81,807,065
FY2023	$250.6M	$95.3M	—	—	88,747,028
FY2024	$268.1M	$100.5M	—	—	94,064,498
FY2025	$294.1M	$112.4M	—	—	102,948,617

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of Four Corners Property Trust, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	3,133,748	+242,817	$76.9M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Dividend per share

2026Q2: $0.37
2026Q1: $0.37
2025Q3: $0.35
2025Q2: $0.35
2025Q1: $0.35
2024Q3: $0.34

Identity

CIK: 0001650132
SIC: 6798 · Real Estate Investment Trusts
Incorporated: MD
Headquarters: MILL VALLEY, CA

Ownership

Institutional: 106.0%
Institutions: 482
Insiders: 1.3%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other real estate investment trusts companies

Four Corners Property Trust, Inc. files under SIC 6798 — all 80 real estate investment trusts companies compared on assets and F-score.

Prologis, Inc.PLD Blackstone Real Estate Income Trust, Inc.BSTT WELLTOWER INC.WELL AMERICAN TOWER CORP /MA/AMT Rithm Capital Corp.RITM VICI PROPERTIES INC.VICI

Questions about Four Corners Property Trust, Inc.

How many subsidiaries does Four Corners Property Trust, Inc. file with the SEC?: 19, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Texas). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Four Corners Property Trust, Inc. financially healthy?: Four Corners Property Trust, Inc. scores 5 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Four Corners Property Trust, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

19 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-12 — see the exhibit.

Which other public companies file entities in the same places:

Delaware17 Texas2

Entity

Jurisdiction

Note

Four Corners Operating Partnership, LP

Delaware

Kerrow Holdings, LLC

Texas

Kerrow Restaurants, LLC

Texas

FCPT Garden Properties, LLC

Delaware

FCPT Sunshine Properties, LLC

Delaware

FCPT SW Properties, LLC

Delaware

FCPT International Drive, LLC

Delaware

FCPT Keystone Properties 11, LLC

Delaware

Four Corners GP, LLC

Delaware

FCPT Keystone Properties, LLC

Delaware

FCPT Restaurant Properties, LLC

Delaware

FCPT Remington Properties, LLC

Delaware

FCPT Hospitality Properties, LLC

Delaware

FCPT PA Hospitality Properties 11, LLC

Delaware

FCPT PA Hospitality Properties, LLC

Delaware

FCPT Acquisitions, LLC

Delaware

FCPT Holdings, LLC

Delaware

FCPT TRS, LLC

Delaware

FCPT OP Holdings, LP

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 7

PASSReturn on assets positiveROA 3.8%
PASSOperating cash flow positiveOCF 192M
PASSReturn on assets improving3.8% → 3.8%
PASSCash flow exceeds earningsOCF 192M vs NI 112M
PASSLong-term debt ratio falling42.9% → 41.2% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution94M → 103M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.10× → 0.10×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$170.9M

$77.3M

−$139.1M

—

71,609,068

FY2021

$199.4M

$85.6M

−$146.0M

—

76,838,569

FY2022

$223.2M

$97.8M

−$154.3M

—

81,807,065

FY2023

$250.6M

$95.3M

—

88,747,028

FY2024

$268.1M

$100.5M

—

94,064,498

FY2025

$294.1M

$112.4M

—

102,948,617

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of Four Corners Property Trust, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	3,133,748	+242,817	$76.9M

Questions about Four Corners Property Trust, Inc.

How many subsidiaries does Four Corners Property Trust, Inc. file with the SEC?

19, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Texas). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Four Corners Property Trust, Inc. financially healthy?

Four Corners Property Trust, Inc. scores 5 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Four Corners Property Trust, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.