Welcome to our dedicated page for Four Corners Ppty Tr news (Ticker: FCPT), a resource for investors and traders seeking the latest updates and insights on Four Corners Ppty Tr stock.
Four Corners Property Trust Inc (NYSE: FCPT) news coverage provides insight into one of the specialized segments of the real estate investment trust market: net lease properties anchored by restaurant, healthcare, and automotive service tenants. As a REIT that was spun off from Darden Restaurants and has since diversified its portfolio, FCPT generates news through its ongoing acquisition activities and portfolio expansion.
FCPT announcements typically center on property acquisitions and sale-leaseback transactions. The company regularly discloses purchases of restaurant properties from franchisees of national brands, veterinary clinic acquisitions from healthcare operators, and automotive service property additions. Each acquisition announcement reveals the tenant, property type, purchase price, and geographic location, providing transparency into how the company deploys capital.
Earnings reports and financial updates offer quarterly snapshots of portfolio performance, occupancy rates, and rent collection metrics. FCPT's investor communications address funds from operations (FFO), a key REIT performance measure, along with dividend declarations that income-focused investors monitor closely. Balance sheet updates regarding leverage and credit facility availability inform the company's capacity for future acquisitions.
For investors tracking the net lease REIT sector, FCPT news illustrates broader trends in restaurant real estate, healthcare property demand, and sale-leaseback market activity. Bookmark this page to follow acquisition announcements, earnings releases, and portfolio developments from this diversified net lease REIT.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Panera Bread property for $2.0 million. The property is situated in a strong retail corridor in Indiana and is corporate-operated under a triple net lease with approximately four years remaining on the term. The transaction was completed at a 6.8% cap rate on rent as of the closing date, excluding transaction costs.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a NAPA Auto Parts property for $2.0 million. The property is strategically located in a high-traffic area in New York and operates under a corporate, triple net lease with approximately 5 years remaining on the term. The transaction was completed at a 7.2% cap rate on rent as of the closing date, excluding transaction costs.
Four Corners Property Trust (NYSE:FCPT) has acquired five Outback Steakhouse properties for $19.7 million. The properties, purchased from the same seller as the previous Bloomin' Brands 19-property portfolio deal in August 2024, are situated in prime retail locations across Texas (3), Florida (1), and Missouri (1). The properties are corporate-operated under long-term net leases, and the transaction was completed at a cap rate consistent with FCPT's previous transactions.
Four Corners Property Trust (NYSE:FCPT) has acquired three commercial properties for $6.6 million, including a Raising Cane's, a Dollar General, and a Jiffy Lube. The properties are situated in prime retail areas across Texas and Florida, featuring long-term triple net leases with an average remaining term of 8 years. The Raising Cane's and Dollar General locations are corporate-operated, while the Jiffy Lube is franchisee-operated. The transaction was completed at a 7.3% cap rate on rent at closing, excluding transaction costs.
Four Corners Property Trust (NYSE: FCPT) has announced a quarterly cash dividend of $0.3550 per share for the fourth quarter of 2024, equivalent to $1.42 per share annually. This represents a 2.9% increase from the previous quarter. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024. FCPT is a real estate investment trust focused on owning, acquiring, and leasing restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Miller's Ale House property in Georgia for $3.8 million. The property is situated in a strong retail corridor and operates under a corporate net lease with approximately 11 years remaining. The transaction was completed at a 7.2% cap rate on rent at closing, excluding transaction costs.
Four Corners Property Trust (FCPT) has acquired three Christian Brothers Automotive properties for $9.6 million. The properties, located in retail corridors across Alabama, Colorado, and Louisiana, are secured by long-term triple net leases with an average of 12 years remaining. Christian Brothers Automotive operates over 250 locations across 30 states. The transaction's cap rate aligns with FCPT's previous acquisitions.
Four Corners Property Trust (NYSE: FCPT) reported its Q3 2024 financial results. Rental revenue increased by 3.7% year-over-year to $59.3 million, with net income attributable to common shareholders at $25.6 million, or $0.27 per diluted share. For the nine months ending September 30, 2024, net income was $74.3 million, or $0.80 per diluted share. AFFO per diluted share saw a slight increase to $0.43 for the quarter and $1.29 for the nine months. FCPT acquired 21 properties for $70.7 million and sold 7,594,019 shares via an ATM program, raising $207.3 million. The portfolio boasts 99.6% occupancy over 1,153 properties. As of September 30, 2024, the company had $382 million in available liquidity, with $1,140 million in outstanding debt. FCPT declared a $0.345 dividend per common share for Q3 2024. The leverage ratio stood at 5.3x net debt to adjusted EBITDAre.
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust specializing in high-quality, net-leased restaurant and retail properties, has acquired a Tires Plus property for $2.1 million. The property is situated in a prime retail area in Georgia and is operated by the corporate entity under a long-term triple net lease. This acquisition aligns with FCPT's strategy of expanding its portfolio with strategically located properties. The transaction was priced at a cap rate consistent with FCPT's previous acquisitions, indicating a continuation of the company's established investment approach.
Four Corners Property Trust (NYSE: FCPT), a REIT focused on high-quality, net-leased restaurant and retail properties, has announced it will release its Q3 2024 financial results on October 30, 2024, after market close. The company will host a conference call and webcast on October 31, 2024, at 11:00 a.m. Eastern Time to discuss the results.
Key details for the call include:
- Live call: 1-833-470-1428 (domestic) or 1-404-975-4839 (international)
- Call Access Code: 363244
- Live webcast: https://events.q4inc.com/attendee/716655745
- Replay available through January 29, 2025
FCPT is offering pre-registration for the call to expedite entry and avoid waiting for a live operator. Investors can pre-register at the provided link.
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