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) 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.
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 location value="LU/us.ca.milley"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.