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 (NYSE:FCPT) has acquired two Buffalo Wild Wings properties in New Jersey for $10.2 million. The acquisition is part of FCPT's strategy to expand its portfolio of net-leased restaurant and retail properties. The properties are secured under a triple net lease with 20 years remaining and annual rent increases of 2%. This transaction is priced at a 6.4% cap rate based on rent at closing, marking a strategic addition to FCPT's asset base.
Four Corners Property Trust (NYSE: FCPT) has announced a quarterly cash dividend of
Four Corners Property Trust (NYSE:FCPT) has acquired a portfolio of three restaurant properties, including Miller’s Ale House, Olive Garden, and Outback Steakhouse, for $8.5 million. Located in a strong retail area in Maryland, these assets are under triple net ground leases with a weighted average remaining term of approximately eight years. The transaction's capitalization rate aligns with FCPT's previous dealings, indicating consistent performance. This acquisition reinforces FCPT's strategy to expand its portfolio in the restaurant and retail sectors.
Four Corners Property Trust (FCPT) has acquired a Circle K property and a Firestone property for $6.5 million in Illinois. The properties are situated in a high-traffic area and have long-term, triple net leases with an average remaining term of 5 years. The deal was executed at a 7.0% cap rate, not including transaction costs. This acquisition aligns with FCPT's strategy to expand its portfolio of high-quality restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Caliber Collision property in Michigan for $889,000. This site, located in a busy area, is under a net lease with approximately nine years remaining. The acquisition was made at a 6.9% capitalization rate, considering near-term rent increases and excluding transaction costs. FCPT aims to expand its portfolio by acquiring quality net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired six outparcel properties for $14.0 million, as part of a transaction first announced in July 2022. This portfolio includes five single-tenant restaurant properties and one non-restaurant retail property, all located in a prominent Texas retail corridor. The properties feature net-lease structures with strong tenancy, having a weighted average remaining lease term of approximately four years. The acquisition aligns with FCPT's strategy to enhance its portfolio of high-quality, net-leased real estate.
Four Corners Property Trust (NYSE:FCPT) has acquired two National Tire and Battery properties for $2.8 million. Located in prime retail corridors in North Carolina, the properties are corporate-operated under triple net leases with an average remaining term of seven years. The acquisition was executed at a 6.1% cap rate on actual rent, demonstrating a strategic move to enhance FCPT's portfolio in the retail sector. The company aims to expand its presence through similar acquisitions in the restaurant and retail industries.
Four Corners Property Trust (FCPT) has sold a Burger King restaurant property in Mississippi for $2.4 million, achieving a 5.3% cap rate on current rent. This transaction will yield an immaterial gain to the company. FCPT plans to reinvest the proceeds through a 1031-Exchange, which allows tax deferrals on the sale proceeds. However, if FCPT does not identify replacement properties within 45 days or fails to acquire them within 180 days, it may incur a tax at the highest corporate rate on the gains from the sale.
FAQ
What is the current stock price of Four Corners Property Trust (FCPT)?
What is the market cap of Four Corners Property Trust (FCPT)?
What is Four Corners Property Trust, Inc.?
When was FCPT established?
How many properties does FCPT own?
What are the main segments of FCPT's operations?
How does FCPT generate most of its revenue?
What is FCPT's strategy for growth?
What brands are included in FCPT's portfolio?
Where can I find more information about FCPT?
What is a sale-leaseback transaction?
What is the investment grade rating of FCPT?
