Four Corners Ppty Tr Inc Stock Price, News & Analysis

Four Corners Property Trust (NYSE:FCPT) announced the sale of an Applebee’s restaurant property in Michigan for $1.7 million. The transaction was completed with a cap rate consistent with previous sales, resulting in an immaterial gain for FCPT. Proceeds will be reinvested in accordance with the company's investment strategy, utilizing a 1031-Exchange to defer taxes on the sale. However, failure to acquire replacement properties within specified timeframes may trigger tax liabilities at a high rate.

Four Corners Property Trust (NYSE:FCPT) has acquired a VCA Animal Hospital property in Indiana for $1.0 million. This property is situated in a strong retail corridor and is corporate-operated under a net lease with approximately 5 years remaining. The transaction was completed at a 7.3% cash capitalization rate, excluding transaction costs. This strategic purchase aligns with FCPT's goal of expanding its high-quality, net-leased restaurant and retail portfolio.

Four Corners Property Trust (FCPT) reported impressive financial results for Q2 2022, with rental revenue increasing by 13.6% year-over-year to $47.9 million. Net income attributable to common shareholders was $28.1 million, up from $20.1 million a year ago. The company successfully acquired 26 properties for $54 million, maintaining a high occupancy rate of 99.9%. FCPT also received its second investment-grade rating from Moody’s, enhancing its credit profile. The company declared a dividend of $0.3325 per share for the quarter.

Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of an Outback Steakhouse property in Indiana for $2.4 million. This transaction is located in a prime retail area and is corporate-operated under a net lease, with approximately 4 years remaining on the lease term. The deal is priced at a 6.8% cash capitalization rate, not including transaction costs. This acquisition aligns with FCPT's strategy to expand its portfolio in the restaurant and retail sectors.

Four Corners Property Trust (NYSE:FCPT) has acquired an Advance Auto Parts property for $928,000 in Michigan. This property, located in a high-traffic area, is leased to the corporate entity with about four years remaining on the lease. The acquisition was made at a capitalization rate of 7.15%, excluding transaction costs. FCPT focuses on owning and acquiring net-leased restaurant and retail properties, aiming to expand its portfolio within these sectors.

Four Corners Property Trust (NYSE:FCPT) has acquired an Advance Auto Parts property for $2.3 million in Illinois. The property is strategically located in a high-traffic area and is corporate-operated under a net lease agreement. The acquisition was secured at a 6.3% capitalization rate, excluding transaction costs, reinforcing FCPT's commitment to expanding its portfolio of quality restaurant and retail properties.

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.