Company Highlights - FCPT acquired 64 properties for $199 million at a 71% cap rate in the last 5 months of 2024[7] - The company raised over $102 million in Q4 and $104 million in Q1 to date through ATM[7] - FCPT has $204 million of unsettled equity forwards as of March 17, 2025[7] - The company extended and upsized its credit facility capacity in January 2025, including a $350 million revolver capacity and a $225 million term loan[7] Portfolio Composition - Olive Garden accounts for 34% of the portfolio, while LongHorn represents 10%[7] - The company's portfolio consists of 1220 leases across 163 brands[50, 54] - Darden spin-off properties have 56x rent coverage[15, 18] Financial Metrics - FCPT's net debt to adjusted EBITDAre ratio is 49x[15, 52] - The company's average annual escalator is 14%[52] - FCPT's Q4 AFFO per share is $044[50]

Financial Highlights - FCPT's annual base rent has grown 2.6x from $94 million in 2015 to $244 million in Q1 2025[8, 12] - The company's enterprise value has increased 3.1x from $1.3 billion in 2015 to $4.1 billion in Q1 2025[8, 10] - FCPT raised $102 million in Q4 2024 and $169 million year-to-date in 2025 through ATM [7] - FCPT has $254 million of unsettled equity forwards as of April 30, 2025[7, 17] - The company has $350 million undrawn revolver capacity[7, 17] - FCPT reported AFFO per share of $0.44 in Q1 2025[15] Portfolio Composition - Olive Garden accounts for less than 34% of Annual Base Rent (ABR)[7, 28] - LongHorn Steakhouse accounts for less than 10% of ABR[7, 28] - The top five brands now represent less than 55% of ABR[7, 8] - The portfolio is 99.4% occupied[17, 33]