Four Corners Ppty Tr Inc Stock Price, News & Analysis

Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Burger King property in Ohio for $1.4 million. This property, located in a high-traffic retail area, is under a triple net lease with Carrols Corporation, which has approximately one year remaining on the lease term. The acquisition was valued at a 6.8% going-in cash capitalization rate, not including transaction costs. The Company is focused on expanding its portfolio of net-leased restaurant properties.

Four Corners Property Trust (NYSE:FCPT) has acquired a Kum & Go convenience store property for $1.6 million. Located in a busy area in Oklahoma, this corporate-operated facility is under a triple net lease with about four years remaining. The acquisition was made at a 6.85% capitalization rate, excluding transaction costs, indicating a strategic purchase that may enhance FCPT's portfolio.

Four Corners Property Trust (NYSE:FCPT) has announced a significant update regarding its credit facilities. The company has entered into a Second Amended and Restated Revolving Credit and Term Loan Agreement, extending its existing $650 million credit facility. The agreement includes a $250 million revolving credit facility maturing in November 2025 and a $400 million term loan with staggered maturities from 2023 to 2026. This restructuring reflects an improved interest rate of LIBOR plus 125 basis points, enhancing FCPT's financial flexibility and growth prospects.

Four Corners Property Trust (NYSE:FCPT) has acquired a corporate WellNow Urgent Care property for $2.3 million. This property, situated in a strong retail corridor in New York, is leased under a long-term agreement. The acquisition reflects a capitalization rate in line with previous FCPT transactions, indicating consistency in their investment strategy. FCPT focuses on high-quality, net-leased restaurant properties and aims to expand its portfolio within the restaurant and retail sectors.

Four Corners Property Trust (FCPT) announced the acquisition of a Pathway Vet Alliance property for $1.8 million. This property is located in a prime retail area in Utah and operates under a triple net lease with approximately 11 years remaining on the lease term. The acquisition comes with a capitalization rate of 6.7%, signaling a solid investment opportunity for the company.

Four Corners Property Trust (NYSE:FCPT) has acquired six NTB branded properties for $11.6 million. Situated in high-traffic retail areas of Mississippi and Ohio, these properties are corporate-operated under triple net leases with an average remaining term of about three years. This acquisition is priced at a 7.6% capitalization rate, not including transaction costs. FCPT focuses on expanding its portfolio in the restaurant and retail property sectors.

Four Corners Property Trust (NYSE:FCPT) has acquired a US Bank property for $3.9 million as part of a previous Brookfield Properties transaction. This property is situated in a prime retail area in Colorado and is leased on a triple net basis with approximately 11 years remaining. This acquisition adds to FCPT's portfolio, bringing the total number of properties acquired from Brookfield to 18, amounting to $33 million since the initial announcement in October 2019. The deal aligns with FCPT's strategy of expanding its high-quality, net-leased restaurant properties.

Four Corners Property Trust (FCPT) reported robust first-quarter financial results for 2021, with rental revenue increasing by 10% to $41.5 million. The company achieved a 99.7% rent collection rate. Net income attributable to common shareholders rose to $20.6 million, matching the $0.27 per diluted share from last year. FCPT also raised $100 million in senior unsecured notes at a low interest rate of 2.70%. The company acquired 13 properties for $33.9 million, enhancing its portfolio of 810 properties with a 10-year average lease term.

Four Corners Property Trust (FCPT) announced it will release its financial results for Q1 2021 on April 27 after market close. A conference call will follow on April 28 at 11:00 AM ET for investors and analysts to discuss the results. Investors can pre-register to expedite entry into the call. FCPT focuses on acquiring and leasing high-quality net-leased restaurant properties to expand its portfolio in the restaurant and retail sectors.