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 reports news centered on its REIT portfolio of net-leased restaurant and retail properties. Company updates frequently cover acquisitions of corporate-operated properties leased to restaurant, automotive service, veterinary, tire retail and other retail tenants, with details on lease structure, remaining term and acquisition capitalization rates.
FCPT news also includes quarterly financial and operating results, rent collection and occupancy commentary, investor presentations, and balance-sheet activity such as senior unsecured term loan facilities used to support its property acquisition pipeline and general corporate purposes.
Four Corners Property Trust (NYSE: FCPT) announced the acquisition of a Longhorn Steakhouse property for $2.0 million. This property is located in a high-traffic area in Illinois and is under a corporate-operated net lease. The transaction aligns with previous FCPT acquisitions in terms of cap rate.
Four Corners Property Trust, Inc. (FCPT) announced solid financial results for Q1 2024, with high rent collection levels and $85 million in Term Loans issuance. Rent collection stood at 99.7% of contractual base rent, while rental revenue increased by 12.3% to $58.6 million. Net income attributable to common shareholders was $24.0 million, with FFO per share at $0.41 and AFFO per share at $0.43. G&A expenses slightly increased, and FCPT declared a dividend of $0.345 per common share. The company's real estate portfolio is well-positioned, with 1,115 properties across 47 states.
Four Corners Property Trust (FCPT) has acquired a Patient First Urgent Care property in Pennsylvania for $6.6 million, with a 7.1% cap rate on rent. The property is under a triple net lease with approximately ten years remaining.
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