Four Corners Property: Q1 Earnings Snapshot

MILL VALLEY, Calif. (AP) _ Four Corners Property Trust Inc. (FCPT) on Tuesday reported a key measure of profitability in its first quarter. The real estate investment trust, based in Mill Valley, California, said it had funds from operations of $32.8 million, or 41 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 $22.3 million, or 28 cents per share.