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 Caliber Collision properties for $1.0 million, located in high-traffic areas of Ohio. These properties are leased on a corporate-operated net lease with an average remaining term of 8 years. The acquisition was executed at a 6.6% going-in cash capitalization rate, excluding transaction costs. This strategic move aligns with FCPT’s goal to expand its portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired a Carrabba's property in Missouri for $1.7 million. This acquisition, part of FCPT's strategy to expand its portfolio of net-leased restaurant and retail properties, is situated in a prime retail corridor and features a corporate-operated triple net lease with approximately six years remaining. The transaction was valued at a 6.2% cap rate on current rent, excluding transaction costs, indicating a solid investment opportunity for FCPT.
Four Corners Property Trust (FCPT) announced robust financial results for Q3 2021, highlighting a 12.3% increase in rental revenue to $43.7 million and a net income of $21.2 million ($0.28 per diluted share). The company acquired 53 properties for $107 million, focusing on non-restaurant sectors. FCPT maintained a strong rent collection rate of 99.8% and improved its Funds from Operations (FFO) per share to $0.39. Despite a slight increase in G&A expenses, liquidity remains healthy with $204.8 million available, including $7.8 million in cash. The company continues to prioritize growth through strategic acquisitions.
Four Corners Property Trust (NYSE:FCPT) has acquired a newly constructed Raising Cane’s restaurant property for $2.2 million. Located in a prime retail corridor in Illinois, this property is leased to the corporate operator under a triple net lease with 15 years remaining. The transaction aligns with FCPT's strategy of owning and acquiring high-quality net-leased properties and was priced at a cap rate consistent with previous FCPT transactions.
Four Corners Property Trust (NYSE:FCPT) has acquired a Chili’s restaurant property in Missouri for $3.2 million. This transaction features a 6.5% going-in cash capitalization rate and is secured by a new triple net lease with a franchisee, ensuring a 20-year term with 1.5% annual rent increases. The acquisition strategically enhances FCPT's portfolio within a strong retail corridor, reflecting its focus on high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired an Aspen Dental property for $1.9 million. The property is strategically located in a high-traffic area in Arkansas and operates under a corporate net lease. This acquisition aligns with FCPT's strategy of expanding its portfolio of high-quality, net-leased restaurant and retail properties. The transaction’s cap rate is consistent with previous FCPT acquisitions, indicating stable investment performance.
Four Corners Property Trust (FCPT) has acquired an Oak Street Health property for $1.8 million. This corporate-operated property is located in a high-traffic area of Oklahoma and is secured under a long-term, triple net lease. The transaction reflects a cap rate consistent with FCPT's historical transactions, indicating a strategic expansion in their portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE: FCPT) will release its financial results for Q3 2021 on October 26, 2021, after market close. A conference call discussing the results is scheduled for October 27, 2021, at 11:00 a.m. ET. Investors can pre-register to streamline their entry into the call. FCPT focuses on owning, acquiring, and leasing high-quality, net-leased restaurant and retail properties. The company aims to grow its portfolio through strategic acquisitions.
Four Corners Property Trust, Inc. (NYSE: FCPT) announced a quarterly cash dividend of $0.3175 per share, totaling $1.27 per share annually. This dividend will be paid on October 15, 2021 to shareholders of record as of October 7, 2021. FCPT focuses on acquiring and leasing restaurant and retail properties, with ongoing efforts to expand its portfolio. The company emphasizes that forward-looking statements may involve risks and uncertainties that could impact actual results.
Four Corners Property Trust (FCPT) has acquired three properties, including Buffalo Wild Wings, Wells Fargo, and Texas Roadhouse, for $5.1 million from Washington Prime Group. These properties are located in strong retail areas of Florida and Pennsylvania and are leased under triple net agreements with an average remaining term of five years. The acquisition price aligns with FCPT's historical cap rates. This strategic acquisition enhances FCPT's portfolio in the restaurant and retail sectors.
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