Four Corners Property Trust, Inc. - FCPT STOCK NEWS

Four Corners Property Trust (NYSE: FCPT) declared a quarterly cash dividend of $0.3325 per share for Q1 2022, amounting to $1.33 annually. The dividend will be payable on April 14, 2022, to shareholders recorded by March 31, 2022. FCPT is a real estate investment trust focused on the ownership, acquisition, and leasing of restaurant and retail properties, aiming to expand its portfolio in these sectors.

Four Corners Property Trust (FCPT) announced the acquisition of a Chili’s restaurant property in South Carolina for $3.5 million. This triple net lease property is operated by a franchisee with approximately four years remaining on the lease. The transaction was executed at a capitalization rate of 6.8%, not including transaction costs. FCPT focuses on acquiring high-quality, net-leased restaurant and retail properties to expand its portfolio.

Four Corners Property Trust (NYSE:FCPT) has completed the acquisition of two outparcel properties leased to Chili’s and Verizon for $5.5 million. Located in a robust retail corridor in Colorado, these properties are corporate-operated under net leases with an average term of 7 years. The acquisition's cap rate aligns with previous transactions by FCPT, indicating a strategic investment to enhance its portfolio of high-quality net-leased properties.

Four Corners Property Trust (FCPT) reported strong financial results for Q4 and the full year ending December 31, 2021. The company achieved a 13.5% increase in rental revenue to $45.5 million, with net income for Q4 rising to $23.7 million ($0.30 per diluted share). AFFO per diluted share grew to $0.41 for Q4 and $1.56 for the year. FCPT raised over $86 million in equity capital and closed $70 million in acquisitions during the quarter. Rent collection was high at 99.8% for Q4. The company declared a dividend of $0.3325 per share, a 4.7% increase from the previous quarter.

Four Corners Property Trust (NYSE:FCPT) announced the acquisition of an outparcel property leased to Truist Bank for $1.1 million. Located in North Carolina's strong retail corridor, the property operates under a triple net lease with 6 years remaining on the lease term. The transaction aligns with previous acquisitions in terms of cap rate, underscoring FCPT's strategy to enhance its portfolio of high-quality, net-leased restaurant and retail properties.

Four Corners Property Trust (FCPT) announced it will release its financial results for the year ending December 31, 2021, on February 16, 2022. The results will be discussed in a conference call scheduled for February 17, 2022, at 11:00 a.m. Eastern Time. This event aims to provide insights into the company's performance, particularly in the restaurant and retail property sectors. Investors are encouraged to pre-register to streamline entry into the call.

Four Corners Property Trust (FCPT) has acquired a VCA Animal Hospital property for $1.7 million. This property, situated in a high-traffic area of Michigan, is corporate-operated under a net lease with around 7 years remaining on the lease term. The acquisition was made at a 7.0% going-in cash capitalization rate, excluding transaction costs. This purchase aligns with FCPT's strategy to enhance its portfolio in the restaurant and retail sectors.

Four Corners Property Trust (FCPT) has acquired a Chick-fil-A property in Connecticut for $3.5 million. This transaction marks the final property acquisition from a portfolio of assets previously announced with Washington Prime, totaling over $100 million across 59 properties. In 2021, FCPT completed acquisitions of 122 properties, totaling approximately $257 million, enhancing its portfolio of net-leased restaurant and retail properties. The new Chick-fil-A location is corporate-operated with around 15 years remaining on the term, offering stable income potential.