Welcome to our dedicated page for Four Corners Property Trust news (Ticker: FCPT), a resource for investors and traders seeking the latest updates and insights on Four Corners Property Trust stock.
Four Corners Property Trust, Inc. (NYSE: FCPT) is a distinguished $2 billion investment-grade rated net lease Real Estate Investment Trust (REIT) that focuses primarily on restaurant real estate. Originating from a spin-off from Darden Restaurants, Inc. in November 2015 with an initial portfolio of 418 properties, FCPT has expanded its reach significantly. Today, the company boasts ownership of over 500 properties across 44 states, housing more than 20 well-known brands.
FCPT's core business revolves around the acquisition, ownership, and leasing of restaurant and retail properties. The company's growth strategy emphasizes portfolio diversification and scaling through strategic acquisitions and sale-leaseback transactions with high-quality credit restaurant operators. This approach ensures a robust real estate foundation and stable revenue streams.
Operating through two main segments, FCPT derives the majority of its revenue from its real estate operations, which include rental revenues generated from leasing properties to tenants in the restaurant and retail sectors. The second segment, restaurant operations, is managed through a taxable REIT subsidiary (TRS) named Kerrow Restaurant Operating Business.
FCPT continually seeks to enhance its portfolio by acquiring additional properties that meet its stringent quality criteria. This strategy not only maximizes returns for shareholders but also strengthens relationships with renowned restaurant operators, ensuring long-term stability and growth.
For more detailed information about Four Corners Property Trust, Inc., visit www.fcpt.com.
Four Corners Property Trust (FCPT) reported strong financial results for Q3 2022, with rental revenue increasing by 11.4% year-over-year to $48.7 million. The company successfully acquired $70 million in properties and raised over $87 million through equity issuances. Net income for the quarter was $24.5 million, or $0.30 per diluted share. FCPT's portfolio boasts a 99.9% occupancy rate and strong liquidity of approximately $358 million. They declared a dividend of $0.3325 per share and have an adjusted EBITDAre leverage ratio of 5.5x.
Four Corners Property Trust (NYSE:FCPT) announced an amendment to its revolving credit and term loan agreement, increasing the facility size from
Four Corners Property Trust (NYSE: FCPT) announced that Eric S. Hirschhorn has resigned from the Board of Directors to focus on other business endeavors. He has been a valuable member for nearly five years, contributing significantly to the Company's growth and navigating challenges such as COVID-19. The Board expressed gratitude for his insights and guidance. The Company, headquartered in Mill Valley, CA, specializes in owning and acquiring net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a NAPA Auto Parts property for $1.4 million. Located in a strong retail corridor in Kansas, the property operates under a triple net lease with approximately two years remaining. The transaction was conducted at a 6.6% cap rate, not including transaction costs. This acquisition aligns with FCPT's strategy to expand its portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired a Torchy’s Tacos property for $2.2 million from a previous Seritage transaction. This property, located in Florida, operates under a triple net lease with around 6 years remaining on the lease term. The acquisition is part of a broader strategy, as FCPT has now acquired a total of 26 properties for $78.2 million from Seritage since October 2019. The transaction was priced at a cap rate consistent with previous acquisitions by FCPT.
Four Corners Property Trust (NYSE:FCPT) has acquired a Tires Plus property in Ohio for $2.1 million. The purchase is located in a strong retail area and is leased under a triple net lease with about 5 years remaining. The agreement features annual rent increases of 2%. The transaction reflects a 6.5% cap rate, excluding transaction costs. This acquisition aligns with FCPT's strategy to grow its portfolio in high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired a NAPA Auto Parts property in Michigan for $829,000. The transaction features a corporate-operated net lease with approximately three years remaining, yielding a 7.9% cap rate, excluding transaction costs. This acquisition aligns with FCPT's strategy to enhance its portfolio of high-quality, net-leased restaurant and retail properties, thereby supporting its growth objectives.
Four Corners Property Trust (FCPT) has acquired an Advance Auto Parts property in Michigan for $715,000. This acquisition is situated in a high-traffic area and is secured by a net lease to the corporate entity, with approximately three years remaining on the lease term. The deal was completed at a 7.9% capitalization rate, excluding transaction costs, marking a strategic addition to FCPT's portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has announced the acquisition of three WellNow Urgent Care properties for
Four Corners Property Trust (NYSE: FCPT) will announce its financial results for the third quarter of 2022 on
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