FCPT — what changed in the latest 10-Q
A section-by-section comparison of FCPT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-29 vs the prior 10-Q · 2026-07-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +22 | −23 | ~32 | 28 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-29
On October 14, 2026, the Company entered into a master agreement with Darden Restaurants, Inc. and certain of its affiliates providing for the extension of 72 Olive Garden and LongHorn Steakhouse leases, of which 66 were previously scheduled to expire in October 2027 and six were early extensions th…
The following discussion includes the results of our operations for the three and nine months ended September 30, 2026 and 2025 as summarized in the table below:
Three Months Ended September 30, 2026 Compared to Three Months Ended September 30, 2025
During the three months ended September 30, 2026 and 2025, we operated in two segments: real estate operations and restaurant operations. Our real estate operations generate rental income from leases primarily with restaurant brands, which we recognize on a straight-line basis to include the effect …
Rental revenue increased $9.2 million, or 14%, during the three months ended September 30, 2026 compared to the three months ended September 30, 2025. This change was due primarily to the acquisition of 184 leased properties during the twelve month period from October 1, 2025 through September 30, 2…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
The following discussion includes the results of our operations for the three and six months ended June 30, 2026 and 2025 as summarized in the table below:
Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025
During the three months ended June 30, 2026 and 2025, we operated in two segments: real estate operations and restaurant operations. Our real estate operations generate rental income from leases primarily with restaurant brands, which we recognize on a straight-line basis to include the effect of ba…
Rental revenue increased $5.2 million, or 8%, during the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This change was due primarily to the acquisition of 91 leased properties during the twelve month period from July 1, 2025 through June 30, 2026. During the thre…
Depreciation and amortization expense represents the depreciation on real estate investments and equipment that have estimated lives ranging from 2 to 55 years. Depreciation and amortization increased by approximately $1.9 million, or 13%, for the three months
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice