Connor Siversky: Understood. Appreciate the color. Thank you.
Operator: Thank you. Our next question comes from [Alex Fagan] (ph) from Baird. Alex, please go ahead.
Unidentified Analyst: Hi, thank you for taking my question today. The first one is, what’s the baked-in earnings growth for 2024 if Four Corners does nothing on the external front?
Bill Lenehan: Well, we don’t give earnings guidance, but what I would say is that the primary factor in driving earnings growth in our business is the annualization of assets purchased in the year prior. We have 1.5% rent bumps, 1.4% rent bumps, we’re pretty conservative on G&A. We have a little bit of floating rate debt, but most of it’s fixed. So the primary driver is the timing of acquisitions throughout the year. So we’ve tended to be back end loaded. This year we are front end loaded. But the primary is annualization. We don’t give guidance. We try to stay away from that, because it sets perverse incentives. But it’s pretty easy to calculate where we stand. And what I would also say is, given our disclosure regime of announcing every property bought or sold the day occurs, you can follow in almost real time what that progress looks like.
Unidentified Analyst: Okay, helpful. Thank you. Second one, kind of two-parts, but will you look to sell more assets over the near-term? And is the spread between where you guys can buy and sell either widening or contracting?
Bill Lenehan: Well I would say it’s probably widening a little bit, because our existing portfolio is largely investment grade very high quality properties. That’s what’s financeable in the world today, if anything’s financeable. And so, you know, and we have properties in 47 states. So we get to meet the 1031 exchange buyer where he or she lives. We have sold assets in the past. It’s never been a large portion of our business. I don’t think today it’s a huge focus of ours, but if approached, we always are thoughtful and responding, and to the extent that we want to do some culling, as you’ve seen with some of the Red Lobsters, we’ve been able to do that at pricing higher than what we purchased the properties for.
Unidentified Analyst: And the last one for me, you mentioned Red Lobster does doing better. Are there any other tenants on the watch list and has it changed much since the beginning of the year?
Bill Lenehan: Nope.
Unidentified Analyst: Well thank you guys.
Bill Lenehan: Yes, of course.
Operator: Thank you. [Operator Instructions] Okay, we have no further questions, so I’ll now hand back over to Bill for closing remarks.
Bill Lenehan: Great, thank you, Lauren. Thanks for the robust questions. Specifically thank you for being interested in our medical research report. A lot of good work went into that. If you have follow-up questions please reach out. We’d love to continue the dialogue. Thank you.
Operator: This concludes today’s call. Thank you for joining. You may now disconnect your lines.
