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) has acquired a Thrive Pet Healthcare property for
Four Corners Property Trust (NYSE:FCPT) has signed a definitive agreement to acquire 7 outparcel properties for $17.1 million. The portfolio includes six restaurant properties and one non-restaurant retail property, featuring tenants like Krispy Kreme and Taco Bell. The cap rate is consistent with FCPT's historical transactions. These properties, located in El Paso, Texas, have a weighted average remaining lease term of around five years. The transaction is expected to close in Q3 2022, pending regulatory approvals.
Four Corners Property Trust (FCPT) plans to release its financial results for the second quarter ended
Four Corners Property Trust (FCPT) has announced the acquisition of a Red Robin property for $2.4 million, as part of a transaction previously disclosed in June 2022. Located in a robust retail area of Maryland, the property is secured under a triple net lease, with about 4 years remaining on the lease term. This acquisition was executed at a 6.5% going-in cash capitalization rate, excluding transaction costs. The deal reflects FCPT's ongoing strategy to expand its portfolio of high-quality, net-leased properties.
Four Corners Property Trust (FCPT) has acquired a DaVita Kidney Care property in Kansas for $2.2 million. The acquisition, which has a remaining lease term of approximately seven years, is positioned in a high-traffic area. The transaction was executed at a 6.3% capitalization rate, excluding transaction costs. FCPT focuses on owning and acquiring high-quality, net-leased restaurant and retail properties, striving for portfolio growth through strategic real estate investments.
Four Corners Property Trust (NYSE: FCPT) announced a quarterly cash dividend of
Four Corners Property Trust (NYSE:FCPT) announced the sale of an Olive Garden restaurant property in Florida for $6.3 million, resulting in a gain for the company. The transaction was executed at a 4.5% cap rate on current rent. FCPT plans to reinvest the proceeds through a 1031 like-kind exchange, holding the cash in escrow until suitable properties are identified. However, failure to acquire new properties within the designated timeframe could lead to significant tax liabilities.
Four Corners Property Trust (NYSE: FCPT) has announced a definitive agreement to purchase 11 outparcel properties from PREIT (NYSE: PEI) for $32.5 million, priced at a 6.5% cash cap rate. The acquisition includes 8 single-tenant restaurant properties and 3 retail properties, with a weighted average lease term of approximately 8 years. The company expects to finalize the acquisition in the second and third quarters of 2022, pending closing conditions and approvals. CEO Bill Lenehan expressed enthusiasm about continuing the partnership with PREIT.
Four Corners Property Trust (NYSE:FCPT) has acquired a Heartland Dental property for
Four Corners Property Trust (FCPT) has successfully acquired a portfolio of 12 NAPA Auto Parts properties for $21.1 million. Located in 10 states, these properties are under a triple-net master lease with approximately 5 years of lease term remaining. The acquisition was made at a 6.4% capitalization rate exclusive of transaction costs, indicating a strong investment return potential. This strategic move aligns with FCPT's goal to expand its real estate portfolio in the restaurant and retail sectors.
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