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 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.
Four Corners Property Trust (NYSE:FCPT) has acquired a Chili's restaurant and a Monro Auto Service and Tire Center in New York for $2.7 million. Both properties are corporate-operated under triple net ground leases and have a remaining weighted average lease term of approximately four years. The acquisition is valued at a 7.0% capitalization rate, exclusive of transaction costs, indicating the company's strategy to enhance its portfolio of high-quality, net-leased properties.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a corporate DaVita Kidney Care property for $1.1 million. The property, situated in a high-traffic area of Wisconsin, is leased under a net agreement with approximately four years remaining on the term. The acquisition was executed at a 6.9% cash capitalization rate, exclusive of transaction costs. This strategic purchase aligns with FCPT's goal to expand its portfolio in the restaurant and retail sectors.
Four Corners Property Trust (NYSE:FCPT) has acquired a VCA Animal Hospital property for $1.3 million. Located in a busy Minnesota corridor, the property is corporate-operated under a net lease with about seven years remaining. The acquisition was made at a 6.5% capitalization rate, excluding transaction costs, and highlights FCPT's strategy to expand its portfolio in high-quality, net-leased properties.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Burger King property in Ohio for $1.4 million. This property, located in a high-traffic retail area, is under a triple net lease with Carrols Corporation, which has approximately one year remaining on the lease term. The acquisition was valued at a 6.8% going-in cash capitalization rate, not including transaction costs. The Company is focused on expanding its portfolio of net-leased restaurant properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Kum & Go convenience store property for $1.6 million. Located in a busy area in Oklahoma, this corporate-operated facility is under a triple net lease with about four years remaining. The acquisition was made at a 6.85% capitalization rate, excluding transaction costs, indicating a strategic purchase that may enhance FCPT's portfolio.
Four Corners Property Trust (NYSE:FCPT) has announced a significant update regarding its credit facilities. The company has entered into a Second Amended and Restated Revolving Credit and Term Loan Agreement, extending its existing $650 million credit facility. The agreement includes a $250 million revolving credit facility maturing in November 2025 and a $400 million term loan with staggered maturities from 2023 to 2026. This restructuring reflects an improved interest rate of LIBOR plus 125 basis points, enhancing FCPT's financial flexibility and growth prospects.
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