Four Corners Ppty Tr Inc Stock Price, News & Analysis

Four Corners Property Trust (NYSE:FCPT) has acquired five Outback Steakhouse properties for $19.7 million. The properties, purchased from the same seller as the previous Bloomin' Brands 19-property portfolio deal in August 2024, are situated in prime retail locations across Texas (3), Florida (1), and Missouri (1). The properties are corporate-operated under long-term net leases, and the transaction was completed at a cap rate consistent with FCPT's previous transactions.

Four Corners Property Trust (NYSE:FCPT) has acquired three commercial properties for $6.6 million, including a Raising Cane's, a Dollar General, and a Jiffy Lube. The properties are situated in prime retail areas across Texas and Florida, featuring long-term triple net leases with an average remaining term of 8 years. The Raising Cane's and Dollar General locations are corporate-operated, while the Jiffy Lube is franchisee-operated. The transaction was completed at a 7.3% cap rate on rent at closing, excluding transaction costs.

Four Corners Property Trust (NYSE: FCPT) has announced a quarterly cash dividend of $0.3550 per share for the fourth quarter of 2024, equivalent to $1.42 per share annually. This represents a 2.9% increase from the previous quarter. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024. FCPT is a real estate investment trust focused on owning, acquiring, and leasing restaurant and retail properties.

Four Corners Property Trust (NYSE:FCPT) has acquired a Miller's Ale House property in Georgia for $3.8 million. The property is situated in a strong retail corridor and operates under a corporate net lease with approximately 11 years remaining. The transaction was completed at a 7.2% cap rate on rent at closing, excluding transaction costs.

Four Corners Property Trust (FCPT) has acquired three Christian Brothers Automotive properties for $9.6 million. The properties, located in retail corridors across Alabama, Colorado, and Louisiana, are secured by long-term triple net leases with an average of 12 years remaining. Christian Brothers Automotive operates over 250 locations across 30 states. The transaction's cap rate aligns with FCPT's previous acquisitions.

Four Corners Property Trust (NYSE: FCPT) reported its Q3 2024 financial results. Rental revenue increased by 3.7% year-over-year to $59.3 million, with net income attributable to common shareholders at $25.6 million, or $0.27 per diluted share. For the nine months ending September 30, 2024, net income was $74.3 million, or $0.80 per diluted share. AFFO per diluted share saw a slight increase to $0.43 for the quarter and $1.29 for the nine months. FCPT acquired 21 properties for $70.7 million and sold 7,594,019 shares via an ATM program, raising $207.3 million. The portfolio boasts 99.6% occupancy over 1,153 properties. As of September 30, 2024, the company had $382 million in available liquidity, with $1,140 million in outstanding debt. FCPT declared a $0.345 dividend per common share for Q3 2024. The leverage ratio stood at 5.3x net debt to adjusted EBITDAre.

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust specializing in high-quality, net-leased restaurant and retail properties, has acquired a Tires Plus property for $2.1 million. The property is situated in a prime retail area in Georgia and is operated by the corporate entity under a long-term triple net lease. This acquisition aligns with FCPT's strategy of expanding its portfolio with strategically located properties. The transaction was priced at a cap rate consistent with FCPT's previous acquisitions, indicating a continuation of the company's established investment approach.

Four Corners Property Trust (NYSE: FCPT), a REIT focused on high-quality, net-leased restaurant and retail properties, has announced it will release its Q3 2024 financial results on October 30, 2024, after market close. The company will host a conference call and webcast on October 31, 2024, at 11:00 a.m. Eastern Time to discuss the results.

Key details for the call include:

• Live call: 1-833-470-1428 (domestic) or 1-404-975-4839 (international)
• Call Access Code: 363244
• Live webcast: https://events.q4inc.com/attendee/716655745
• Replay available through January 29, 2025

FCPT is offering pre-registration for the call to expedite entry and avoid waiting for a live operator. Investors can pre-register at the provided link.

Four Corners Property Trust (NYSE: FCPT) has declared a quarterly cash dividend of $0.3450 per share for the third quarter of 2024. This dividend is equivalent to $1.38 per share annually. The dividend will be paid on October 15, 2024, to shareholders of record as of September 30, 2024.

FCPT is a real estate investment trust (REIT) primarily focused on owning, acquiring, and leasing restaurant and retail properties. The company, headquartered in Mill Valley, CA, aims to expand its portfolio by acquiring additional real estate for net lease in these industries.