Four Corners Ppty Tr Inc Stock Price, News & Analysis

Four Corners Property Trust (NYSE:FCPT) announced the acquisition of an Outback Steakhouse restaurant in Florida for $1.9 million. This property was part of a transaction involving the Washington Prime Group, bringing FCPT's total acquisitions from the group to 51 properties valued at $82.6 million. The new restaurant is under a triple-net lease with approximately five years remaining. The capitalization rate for this acquisition aligns with FCPT’s investment criteria.

Four Corners Property Trust (NYSE:FCPT) has acquired a Starbucks property in Connecticut for $1.8 million from Washington Prime Group. This acquisition is part of a larger portfolio, totaling 50 properties worth $80.7 million acquired from the same group. The Starbucks property is secured under a net lease to its corporate entity, with approximately ten years remaining on the lease term. The capitalization rate aligns with FCPT’s investment thresholds, underscoring the strategic value of this acquisition.

Four Corners Property Trust (FCPT) declared a quarterly cash dividend of $0.3175 per share, marking a 4.1% increase from the previous quarter. The dividend is payable on January 15, 2021 to shareholders on record as of January 4, 2021. This results in an annual dividend of $1.27 per share. FCPT focuses on acquiring and leasing restaurant properties and aims to expand its portfolio in the restaurant and retail sectors.

Four Corners Property Trust (NYSE:FCPT) has acquired four Verizon properties for $7.2 million, located in Ohio and Pennsylvania. The transaction includes properties leased to Cellular Sales of Knoxville, which operates over 780 locations under net leases with an average remaining term of approximately nine years. The deal was priced at a 7.10% cash capitalization rate, excluding transaction costs, reflecting FCPT's strategy to enhance its portfolio in high-quality net-leased restaurant properties.

Four Corners Property Trust (NYSE:FCPT) has acquired a newly constructed BJ's Restaurant property for $3.8 million through a sale-leaseback transaction. The property, located in Ohio, is under a triple-net lease with a 15-year term and four 5-year extension options. This acquisition marks the second and final purchase from a two-property sale-leaseback deal with BJ's Restaurants announced in September 2020. The transaction cap rate aligns with FCPT's previous acquisitions, supporting its strategy to expand its portfolio of high-quality, net-leased restaurant properties.

Four Corners Property Trust (NYSE:FCPT) has acquired a Wendy’s restaurant property in Virginia for $1.2 million, as part of a larger transaction with Washington Prime Group. The property is leased to Wendy’s corporate for approximately nine years. This acquisition is part of a total of 49 properties purchased from Washington Prime Group, totaling $78.9 million. The capitalization rate aligns with FCPT’s investment criteria, reinforcing the company's commitment to enhancing its portfolio of high-quality net-leased restaurant properties.

Four Corners Property Trust (FCPT) reported robust financial results for Q3 2020, with rental revenue increasing by 10.6% to $38.9 million and a net income of $19.3 million, stable year-on-year. The company maintained a commendable rent collection rate of over 99%. FCPT raised over $62 million through its ATM program and is pursuing a strategic joint venture with Lubert-Adler for acquiring and re-tenanting vacant retail properties, potentially investing $20 million. As of September 30, 2020, FCPT's portfolio included 751 properties, with 99.6% occupancy and a long lease term.

Four Corners Property Trust (FCPT) has acquired a dual-tenant property for $2.6 million in Indiana. This property houses corporate-operated Panera Bread and AT&T, both under separate net leases with approximately nine years of average term remaining. The transaction achieved a 6.8% cash cap rate, post-management expenses. FCPT continues to expand its portfolio focused on high-quality net-leased restaurant properties, reinforcing its position in the real estate investment trust sector.

Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of an Olive Garden property in South Carolina for $2.9 million. This property is secured under a triple-net lease with Darden Restaurants, featuring six years remaining on the lease term. The transaction reflects a 6.2% cap rate based on current rent, and 6.8% if including a scheduled rent increase in January 2021. The acquisition aligns with FCPT's strategy to expand its portfolio of high-quality, net-leased restaurant properties.