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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 an Express Oil Change property in Mississippi for $1.5 million, under a long-term triple net lease with approximately 11 years remaining. The acquisition was made at a 6.3% capitalization rate, indicating a solid return on investment. This acquisition aligns with FCPT's strategy to expand its high-quality, net-leased restaurant and retail property portfolio. The location is in a high-traffic area, which is expected to enhance the value and performance of the investment.
Four Corners Property Trust (FCPT) has acquired a Red Lobster restaurant property in Arizona for $2.4 million. This strategic acquisition is located in a thriving retail corridor and is secured under a triple net lease, which has approximately eight years remaining. The acquisition was executed at a 6.25% capitalization rate, not including transaction costs. FCPT aims to expand its portfolio by acquiring high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Smokey Bones restaurant property in Illinois for $4.4 million. This acquisition, expected to enhance FCPT's portfolio, features a triple net lease with the corporate entity, providing around 12 years of lease term remaining. The deal reflects a 6.3% capitalization rate, excluding transaction costs, positioning FCPT for sustained growth in the restaurant and retail real estate sector.
Four Corners Property Trust (NYSE:FCPT) has acquired a Fresenius property for $2.7 million. Located in a prominent medical corridor in Michigan, the property is corporate-operated under a net lease with approximately six years remaining. This acquisition is priced at a capitalization rate of 7.4% on current rent, and a run rate capitalization rate of 6.9% based on future rent, excluding transaction costs. The deal highlights FCPT's strategy to expand its portfolio in the restaurant and retail sectors.
Four Corners Property Trust, Inc. (NYSE: FCPT) announced that Fitch Ratings has upgraded its long-term issuer rating to ‘BBB’ from ‘BBB-‘, maintaining a stable outlook. CFO Gerry Morgan stated that the upgrade reflects the quality of FCPT’s portfolio and financial position, which will help lower borrowing costs. This rating enhancement highlights the company's commitment to a conservative financial policy and could positively impact its future financial performance.
Four Corners Property Trust (NYSE: FCPT) declared a quarterly cash dividend of
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.
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