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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 (NYSE: FCPT) has acquired an Outback Steakhouse property located in a prime retail area of Florida for $2.3 million. This asset features a corporate-operated net lease with approximately eight years remaining. The acquisition's cap rate aligns with previous transactions by FCPT, indicating a consistent investment strategy. This move enhances FCPT's portfolio, focused on high-quality net-leased restaurant properties, and demonstrates its commitment to growth in the restaurant and retail sectors.
Four Corners Property Trust (FCPT) announced it will release its financial results for the second quarter of 2021 on August 4, 2021, after market close. A conference call will take place the following day, August 5, at 1:00 p.m. ET, for analysts and investors to discuss the results. Investors can pre-register for expedited access to the call. Founded in Mill Valley, CA, FCPT focuses on acquiring and leasing high-quality net-leased restaurant properties, aiming for growth in the restaurant and retail sectors.
Four Corners Property Trust (NYSE:FCPT) has acquired an Outback Steakhouse property for $1.9 million, part of a previously announced transaction with Brookfield Properties. The property, located in a prime retail area in Washington, is franchisee-operated under a triple net lease with approximately three years remaining on its term. This acquisition brings FCPT's total to 19 properties for $35 million from the Brookfield portfolio since October 2019.
Four Corners Property Trust (NYSE:FCPT) has acquired a Chase Bank property for $1.8 million, part of the Seritage transaction initiated in 2019 and expanded in 2020. The property, located in a high-traffic area of Louisiana, is under a triple-net lease with approximately 20 years remaining. This acquisition brings FCPT's total properties acquired from Seritage to 23, amounting to $71 million.
Four Corners Property Trust (FCPT), a real estate investment trust, has acquired a Circle K property in Illinois for $2.3 million. This acquisition is part of FCPT's strategy to grow its portfolio by adding high-quality net-leased restaurant properties. The property is situated in a busy retail area and is backed by a triple net lease with the corporate operator, which has around four years remaining on the lease. The transaction boasts a 6.9% going-in cash capitalization rate, excluding transaction costs.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Mavis Discount Tire property for $1.7 million. This property is strategically located in a high-traffic retail corridor in Wisconsin and is secured by a triple net lease with approximately six years remaining on the term. The transaction was executed at a 6.85% cash capitalization rate, with costs excluded from this rate, indicating a potentially lucrative investment for the company.
Four Corners Property Trust (NYSE:FCPT) has acquired a Burger King property for $1.7 million. Located in a busy retail area of Wisconsin, the property is leased under a triple net lease with approximately 15 years remaining. This acquisition reflects a 6.5% going-in cash capitalization rate, excluding transaction costs. FCPT focuses on owning high-quality, net-leased restaurant properties, aiming to expand its portfolio within the restaurant and retail sectors.
Four Corners Property Trust (FCPT) has acquired a Stanton Optical property in Wisconsin for $2.1 million. The property, located in a high-traffic retail area, is under a triple net lease with approximately seven years remaining. The acquisition was executed at a 6.5% cash capitalization rate. FCPT focuses on acquiring and leasing restaurant properties, seeking growth through strategic real estate investments in the restaurant and retail sectors.
Four Corners Property Trust (NYSE:FCPT) announces the acquisition of a Chili’s property for $2.8 million. Located in a strong retail corridor in Texas, this corporate-operated property features a triple net lease with approximately nine years remaining. The transaction reflects a 6.2% going-in cash capitalization rate, excluding transaction costs. This acquisition aligns with FCPT's strategy to expand its portfolio in the restaurant sector, aiming for long-term growth through net-leased properties.
Four Corners Property Trust (NYSE: FCPT) has declared a quarterly cash dividend of $0.3175 per share, totaling $1.27 per share annually, for Q2 2021. This dividend is payable on July 15, 2021, to shareholders on record as of June 30, 2021.
FCPT is a real estate investment trust focused on acquiring and leasing restaurant properties, aiming to expand its holdings in the restaurant and retail sectors.
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