Four Corners Ppty Tr Inc Stock Price, News & Analysis

Four Corners Property Trust (NYSE: FCPT) has completed the acquisition of a Caliber Collision property for $1.1 million in Michigan. This property, situated in a highly trafficked area, operates under a corporate net lease with approximately nine years remaining on the term. The acquisition was executed at a 6.6% cap rate, not including transaction costs. This strategic move aligns with FCPT's objective to grow its portfolio of high-quality, net-leased restaurant and retail properties.

Four Corners Property Trust (FCPT) has acquired a Thrive Pet Healthcare property for $12.5 million. Located in a prime retail corridor in Illinois, the property features a significantly larger building compared to FCPT's other acquisitions. It is corporate-operated and secured under a net lease with 15 years remaining. The acquisition's cap rate aligns with FCPT's previous transactions, highlighting its strategic fit within the company's portfolio focused on high-quality retail properties.

Four Corners Property Trust (NYSE:FCPT) has signed a definitive agreement to acquire 7 outparcel properties for $17.1 million. The portfolio includes six restaurant properties and one non-restaurant retail property, featuring tenants like Krispy Kreme and Taco Bell. The cap rate is consistent with FCPT's historical transactions. These properties, located in El Paso, Texas, have a weighted average remaining lease term of around five years. The transaction is expected to close in Q3 2022, pending regulatory approvals.

Four Corners Property Trust (FCPT) plans to release its financial results for the second quarter ended June 30, 2022, post market close on July 26, 2022. A conference call will take place on July 27 at 11:00 a.m. Eastern Time to discuss the results. Investors can pre-register for the call via the provided link to expedite entry. FCPT, based in Mill Valley, CA, focuses on acquiring and leasing restaurant and retail properties.

Four Corners Property Trust (FCPT) has announced the acquisition of a Red Robin property for $2.4 million, as part of a transaction previously disclosed in June 2022. Located in a robust retail area of Maryland, the property is secured under a triple net lease, with about 4 years remaining on the lease term. This acquisition was executed at a 6.5% going-in cash capitalization rate, excluding transaction costs. The deal reflects FCPT's ongoing strategy to expand its portfolio of high-quality, net-leased properties.

Four Corners Property Trust (FCPT) has acquired a DaVita Kidney Care property in Kansas for $2.2 million. The acquisition, which has a remaining lease term of approximately seven years, is positioned in a high-traffic area. The transaction was executed at a 6.3% capitalization rate, excluding transaction costs. FCPT focuses on owning and acquiring high-quality, net-leased restaurant and retail properties, striving for portfolio growth through strategic real estate investments.

Four Corners Property Trust (NYSE: FCPT) announced a quarterly cash dividend of $0.3325 per share, totaling $1.33 annually. This dividend will be paid on July 15, 2022 to shareholders on record as of June 30, 2022. The company is a real estate investment trust focused on acquiring and leasing restaurant and retail properties, aiming to expand its portfolio in these sectors.

Four Corners Property Trust (NYSE:FCPT) announced the sale of an Olive Garden restaurant property in Florida for $6.3 million, resulting in a gain for the company. The transaction was executed at a 4.5% cap rate on current rent. FCPT plans to reinvest the proceeds through a 1031 like-kind exchange, holding the cash in escrow until suitable properties are identified. However, failure to acquire new properties within the designated timeframe could lead to significant tax liabilities.

Four Corners Property Trust (NYSE: FCPT) has announced a definitive agreement to purchase 11 outparcel properties from PREIT (NYSE: PEI) for $32.5 million, priced at a 6.5% cash cap rate. The acquisition includes 8 single-tenant restaurant properties and 3 retail properties, with a weighted average lease term of approximately 8 years. The company expects to finalize the acquisition in the second and third quarters of 2022, pending closing conditions and approvals. CEO Bill Lenehan expressed enthusiasm about continuing the partnership with PREIT.