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 successfully acquired two Caliber Collision properties for $3.8 million. These properties are situated in key retail locations in Colorado and Oklahoma. Both properties are backed by corporate triple net leases, boasting a weighted average lease term of 8.0 years. The acquisition was completed at a 6.5% cash capitalization rate, not including transaction costs. This strategic move aims to enhance FCPT's portfolio in the high-quality net-leased restaurant sector.
Four Corners Property Trust (NYSE: FCPT) has acquired a portfolio of 13 KFC properties located in Alabama for $21.7 million. The properties are secured under two identical triple-net master leases with a major franchisee, featuring approximately 14 years of lease term remaining and annual rent increases of 2%. The acquisition was made at a cap rate consistent with previous FCPT transactions, indicating a strategic investment aimed at growing the company’s net-leased restaurant property portfolio.
Four Corners Property Trust (NYSE:FCPT) has acquired a corporate-operated Starbucks property in Mississippi for $1.2 million. The property features a net lease with approximately five years remaining. The acquisition was completed at a 6.50% going-in cash capitalization, exclusive of transaction costs. This strategic purchase reflects FCPT's ongoing commitment to expanding its portfolio of high-quality, net-leased restaurant properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Caliber Collision property in Indiana for $3.3 million. This newly constructed property is situated in a prime retail corridor and comes with a triple net lease for approximately 15 years to the corporate entity of the brand. The acquisition pricing aligns with previous transactions by FCPT, indicating a consistent cap rate strategy.
Four Corners Property Trust (NYSE:FCPT) announced the acquisition of an Outback Steakhouse restaurant in Florida for $1.9 million. This property was part of a transaction involving the Washington Prime Group, bringing FCPT's total acquisitions from the group to 51 properties valued at $82.6 million. The new restaurant is under a triple-net lease with approximately five years remaining. The capitalization rate for this acquisition aligns with FCPT’s investment criteria.
Four Corners Property Trust (NYSE:FCPT) has acquired a Starbucks property in Connecticut for $1.8 million from Washington Prime Group. This acquisition is part of a larger portfolio, totaling 50 properties worth $80.7 million acquired from the same group. The Starbucks property is secured under a net lease to its corporate entity, with approximately ten years remaining on the lease term. The capitalization rate aligns with FCPT’s investment thresholds, underscoring the strategic value of this acquisition.
Four Corners Property Trust (FCPT) declared a quarterly cash dividend of $0.3175 per share, marking a 4.1% increase from the previous quarter. The dividend is payable on January 15, 2021 to shareholders on record as of January 4, 2021. This results in an annual dividend of $1.27 per share. FCPT focuses on acquiring and leasing restaurant properties and aims to expand its portfolio in the restaurant and retail sectors.
Four Corners Property Trust (NYSE:FCPT) has acquired four Verizon properties for $7.2 million, located in Ohio and Pennsylvania. The transaction includes properties leased to Cellular Sales of Knoxville, which operates over 780 locations under net leases with an average remaining term of approximately nine years. The deal was priced at a 7.10% cash capitalization rate, excluding transaction costs, reflecting FCPT's strategy to enhance its portfolio in high-quality net-leased restaurant properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a newly constructed BJ's Restaurant property for $3.8 million through a sale-leaseback transaction. The property, located in Ohio, is under a triple-net lease with a 15-year term and four 5-year extension options. This acquisition marks the second and final purchase from a two-property sale-leaseback deal with BJ's Restaurants announced in September 2020. The transaction cap rate aligns with FCPT's previous acquisitions, supporting its strategy to expand its portfolio of high-quality, net-leased restaurant properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Wendy’s restaurant property in Virginia for $1.2 million, as part of a larger transaction with Washington Prime Group. The property is leased to Wendy’s corporate for approximately nine years. This acquisition is part of a total of 49 properties purchased from Washington Prime Group, totaling $78.9 million. The capitalization rate aligns with FCPT’s investment criteria, reinforcing the company's commitment to enhancing its portfolio of high-quality net-leased restaurant properties.
FAQ
What is the current stock price of Four Corners Property Trust (FCPT)?
What is the market cap of Four Corners Property Trust (FCPT)?
What is Four Corners Property Trust, Inc.?
When was FCPT established?
How many properties does FCPT own?
What are the main segments of FCPT's operations?
How does FCPT generate most of its revenue?
What is FCPT's strategy for growth?
What brands are included in FCPT's portfolio?
Where can I find more information about FCPT?
What is a sale-leaseback transaction?
What is the investment grade rating of FCPT?
