Four Corners Ppty Tr Inc Stock Price, News & Analysis

Four Corners Property Trust (NYSE:FCPT) has acquired a Caliber Collision property for $1.9 million, located in a prime retail area in Wisconsin. The property comes with an 11-year net lease agreement with the corporate operator, providing stable cash flow. The acquisition was made at a 6.6% going-in cash capitalization rate, excluding transaction costs. This purchase reflects FCPT's strategy to expand its portfolio by acquiring high-quality, net-leased properties in the restaurant and retail sectors.

Four Corners Property Trust (FCPT) announced a quarterly cash dividend of $0.3175 per share, totaling $1.27 annually. This dividend will be paid on April 15, 2021, to shareholders of record as of March 31, 2021. FCPT specializes in acquiring and leasing restaurant properties, with plans for further portfolio growth in the restaurant and retail sectors. For ongoing updates, visit FCPT's website.

Four Corners Property Trust (NYSE:FCPT) has acquired a Chili’s restaurant property in Georgia for $3.2 million. The property will be leased to a franchisee operator under a triple net lease, featuring a 20-year term with 1.5% annual rent increases. This transaction reflects a 6.5% cash capitalization rate and is situated in a strong retail corridor, enhancing FCPT's portfolio focused on high-quality, net-leased restaurant properties.

Four Corners Property Trust (NYSE:FCPT) has acquired a Texas Roadhouse property in Illinois for $3.1 million. The location is part of a robust retail corridor and operates under a triple net lease with approximately 10 years remaining on the lease term. The acquisition was completed at a 6.4% going-in cash capitalization rate, excluding transaction costs. FCPT aims to grow its portfolio by investing in high-quality restaurant properties.

Four Corners Property Trust (FCPT) announced the issuance of $100 million in senior unsecured notes. The offering includes $50 million notes with an eight-year term at a 2.74% fixed interest rate and $50 million notes with a ten-year term at a 2.99%. Both are set to fund on April 27, 2021. The company will use net proceeds to reduce outstanding amounts under its unsecured credit facility and for general corporate purposes. After terminating interest rate swaps, the all-in interest rate expense is reduced to 2.70% over the notes' lifespan.

Four Corners Property Trust (FCPT) has announced the acquisition of a Firestone property in Missouri for $3.5 million. This property, located in a robust retail corridor, is corporate-operated under a triple net lease with around six years remaining. The acquisition was priced at a 6.8% cash capitalization rate, excluding transaction costs. This move aligns with FCPT's strategy to expand its portfolio of high-quality, net-leased restaurant properties.

Four Corners Property Trust (FCPT) reported strong financial results for Q4 and FY 2020, highlighting a rental revenue increase of 11.8% to $40.1 million in Q4. Net income for Q4 was $20.3 million, with FFO per diluted share at $0.38, up from 2019. The company completed over $100 million in property acquisitions and raised over $87 million in equity capital. Rent collection levels remained high at over 99.6% for Q4. FCPT declared a quarterly dividend of $0.3175, a 4.1% increase from the previous quarter. The portfolio consists of 799 properties, with 99.6% occupancy.

Four Corners Property Trust (NYSE:FCPT) has announced the sale of a Bob Evans property in Virginia for $1.4 million. This unsolicited offer will result in an immaterial gain for the company, which plans to reinvest the proceeds into new opportunities. FCPT intends to utilize an Internal Revenue Code Section 1031 like-kind exchange for reinvestment, holding net cash proceeds in escrow until potential acquisitions are made. However, failure to identify suitable replacement properties within set timeframes may lead to tax liabilities on the sale's gain.

Four Corners Property Trust (NYSE:FCPT) has sold a Burger King property in Tennessee for $2.1 million, with a cap rate of 5.75%. The property is under a triple net lease with Carrols Corporation, having approximately 16 years remaining on the lease. The proceeds from the sale will be redeployed through a 1031-Exchange, although there is a risk of tax liabilities if equivalent properties are not acquired within specific timeframes. This transaction reflects FCPT's strategy of optimizing its portfolio through asset sales and reinvestments.