Four Corners Property Trust

Four Corners Property Trust, Inc. engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the following business segments: Real Estate Operations and Restaurant Operations. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties. The Restaurant Operations segment consists of the Kerrow Restaurant operating business. The company was founded on July 2, 2015 and is headquartered in Mill Valley, CA.

Earnings data Q1 2021

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Earnings data Q3 2024

Earnings data Q4 2024

Four Corners Property Trust (FCPT) excels in Q4 2022, eyes growth opportunities

FCPT's Q4 2022 performance showcased robust financial metrics, including strong AFFO growth and increased cash rental revenues.
While facing minor challenges such as margin pressures and higher interest expenses, the company remains well-positioned to leverage opportunities for growth and operational enhancements.
With a focus on strategic acquisitions, operational investments, and team expansion, FCPT is poised for continued success in the real estate market.

FCPT excels in Q2 with strong portfolio performance and strategic acquisitions

FCPT's Q2 performance reflects a robust real estate portfolio, marked by high occupancy rates, revenue growth, and strategic acquisitions in key sectors.
Despite challenges in debt markets, the company's prudent financial management and successful debt issuance demonstrate resilience and adaptability.
With a focus on maintaining financial stability and seizing growth opportunities, FCPT is well-positioned to navigate market dynamics and drive long-term value creation.

FCPT reports solid Q3 performance amidst capital challenges and growth opportunities

FCPT's Q3 performance reflects stability and growth, supported by strong financial metrics and high occupancy rates.
While facing challenges in the capital market environment, the company maintains a disciplined approach to capital allocation.
Opportunities lie in the positive performance of the restaurant sector and strategic capital sources for future growth and value creation.

Four Corners Property Trust reports resilient Q4 performance and strategic focus

FCPT's Q4 performance reflects growth in AFFO, record acquisitions, and strategic portfolio optimization despite challenges like slowed acquisition activity and broken deal costs.
The company's strengths lie in its strong capital position, disciplined capital allocation strategy, and focus on quality acquisitions, while challenges include managing debt ratios and deal costs.
Opportunities for FCPT include strategic acquisitions in the current market landscape, leveraging its financial strength for growth, and proactive debt management for sustained stability and value creation.

FCPT reports solid Q1 earnings, navigates challenges with strategic focus

FCPT's Q1 2024 earnings call showcased a robust financial performance, underpinned by strong metrics and prudent financial decisions. While facing challenges in acquisition activity and tenant management, the company remains focused on leveraging opportunities for growth and optimizing its portfolio. With key leadership changes and a clear strategic direction, FCPT is poised for continued success in the real estate sector.

FCPT reports strong Q3 earnings, poised for strategic growth

Four Corners Property Trust (FCPT) delivered a solid Q3 performance, acquiring properties and maintaining a strong portfolio. With minimal exposure to risky sectors, diversified brands, and a healthy balance sheet, FCPT is well-positioned for growth. The company's focus on disciplined investments and active pipeline signal future opportunities for expansion.

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Four Corners Property Trust, Inc. engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties. The Restaurant Operations segment includes the Kerrow Restaurant operating business. The company was founded on July 2, 2015 and is headquartered in Mill Valley, CA.

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a National Veterinary Associates property for $2.0 million. The property is located in Indiana and is corporate-operated under a new long-term, triple net lease with annual rent bumps. The transaction was pri.

FCPT Announces Acquisition of a National Veterinary Associates Property for $2.0 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a BluePearl Pet Hospital property for $1.9 million. The property is located in a highly trafficked corridor in Michigan and is corporate-operated under a net lease with approximately nine years of term remain.

FCPT Announces Acquisition of a BluePearl Pet Hospital Property for $1.9 Million

Four Corners Property Trust is a relatively small, triple-net lease REIT that targets service-oriented properties. I consider FCPT stock to be overvalued when compared to its competitors. FCPT's strengths are either comparable or even stronger across its peer group.

Four Corners Property Trust: Its Peers Have Better Value Proposition

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a National Veterinary Associates property for $1.8 million. The property is located in Florida and is corporate-operated under a new long-term, triple net lease with annual rent bumps. The transaction was pri.

FCPT Announces Acquisition of a National Veterinary Associates Property for $1.8 Million

Four Corners (FCPT) moves ahead with smart acquisitions, mitigating risks and fueling steady growth in an ever-changing market.

Four Corners (FCPT) Acquires Portfolio for $20M, Boosts Growth

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of eight Mavis Tire and affiliated operated properties for $20 million via a sale-leaseback. The properties are located across Alabama (2), Georgia (2), Louisiana (1), New Jersey (1), New York (1), and Tennessee.

FCPT Announces Sale Leaseback of Eight Mavis Tire Operated Properties for $20 Million

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Net lease REITs have performed better than other types of REITs despite rising interest rates. AFFO multiples are the primary method for valuing net lease REITs. These charts allow us to compare the swing in AFFO multiples over the last 5 years.

Net Lease REIT Chart Comparison

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Longhorn Steakhouse property for $2.0 million. The property is located in a highly trafficked corridor in Illinois and is corporate-operated under a net lease. The transaction was priced at a cap rate in ra.

FCPT Announces Acquisition of a Longhorn Steakhouse Property for $2.0 Million

Four Corners Property Trust, Inc. (NYSE:FCPT ) Q1 2024 Earnings Conference Call May 2, 2024 11:00 AM ET Company Participants Patrick Wernig - Managing Director, Acquisitions Bill Lenehan - Chief Executive Officer Josh Zhang - Former Vice President, Acquisitions Gerry Morgan - Chief Financial Officer Conference Call Participants Anthony Paolone - JPMorgan Wes Golladay - Baird R.J. Milligan - Raymond James Jim Kammert - Evercore Operator Welcome to the FCPT First Quarter 2024 Financial Results Conference Call.

Four Corners Property Trust, Inc. (FCPT) Q1 2024 Earnings Call Transcript

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three months ended March 31, 2024. Management Comments “FCPT had a solid start to 2024, with continued high rent collection levels and the issuance of $85 million of Term Loans to further solidify our strong financial position,” said Bill Lenehan. “We currently have no outstanding debt maturities until November 2025 and are well capitalized to t.

FCPT Announces First Quarter 2024 Financial and Operating Results

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Patient First Urgent Care property for $6.6 million. The property is located in a highly trafficked corridor in Pennsylvania under a triple net lease with approximately ten years of term remaining. The tran.

FCPT Announces Acquisition of a Patient First Urgent Care Property for $6.6 Million

Four Corners Property Trust has experienced a 10% stock decline in 2024, in line with the sector Vanguard Real Estate Index Fund ETF. The net lease REIT specializes in acquiring and leasing restaurant and food-related properties, with a high occupancy rate of 99.8%. More recently the company has diversified into auto service and medical retail which account for a combined 17% of annualized base rent.

Four Corners Property Trust: A Fortress Balance Sheet With Ample Growth Prospects

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Banfield Pet Hospital property for $2.4 million. The property is newly constructed and located in a strong retail corridor in Iowa under a long term, net lease with approximately 10 years of term remaining.

FCPT Announces Acquisition of a Banfield Pet Hospital for $2.4 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE: FCPT), a real estate investment trust (REIT) primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it will release financial results for the three months ended March 31, 2024, after the market close on Wednesday, May 1, 2024. A conference call and audio webcast with analysts and investors will be held on Thursday, May.

FCPT to Report First Quarter 2024 Financial Results

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Heartland Dental property for $2.0 million. The property is located in a strong retail corridor in Alabama and is corporate-operated under a net lease with approximately four years of term remaining. The tr.

FCPT Announces Acquisition of a Heartland Dental Property for $2.0 million

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that the Company entered into an Incremental Amendment to the Third Amended and Restated Revolving Credit and Term Loan Agreement with a group of existing lenders (the “Credit Agreement”). The Company utilized the accordion feature of.

FCPT Announces New $85 Million Term Loan Under Existing Credit Facility

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust, Inc. (NYSE: FCPT) today announced that its Board of Directors declared a quarterly cash dividend of $0.3450 per share (equivalent to $1.38 per share per annum) for the first quarter of 2024. The dividend is payable on April 15, 2024, to shareholders of record as of March 28, 2024. About FCPT FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of re.

FCPT Declares First Quarter 2024 Dividend

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MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it plans to promote Patrick Wernig, Managing Director of Acquisitions, to Chief Financial Officer subject to his appointment by the Board of Directors (the “Board”). Mr. Wernig, following a transitional period and subject to his appointment by t.

FCPT Announces CFO Transition; Gerry Morgan to Retire as CFO and Patrick Wernig Named as Successor

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Four Corners Property Trust, Inc. (FCPT) Q4 2023 Earnings Call Transcript

Four Corners Property Trust (FCPT) came out with quarterly funds from operations (FFO) of $0.43 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to FFO of $0.41 per share a year ago.

Four Corners Property Trust (FCPT) Q4 FFO Surpass Estimates

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three months and twelve months ended December 31, 2023. Management Comments “2023 was a solid acquisition year. We grew rent 14% with $333 million of high-quality acquisitions,” said Bill Lenehan. “Additionally, our portfolio continues to perform well with high rent collections and occupancy, and we start the year with low leverage. We remain di.

FCPT Announces Fourth Quarter 2023 Financial and Operating Results

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Baptist Medical Group primary care property for $9.7 million. Baptist Medical Group's parent company, Baptist Memorial Health Care, was founded in 1912 and is one of the largest not-for-profit healthcare sy.

FCPT Announces Acquisition of a Baptist Medical Group Primary Care Property for $9.7 Million

REITs have fallen again after the December rally has fizzled, giving income investors another opportunity to load up. Four Corners Property Trust is a net lease REIT with a diversified portfolio and steady revenue growth. FCPT has a strong balance sheet, attractive dividend yield, and potential for long-term growth, making it attractive for income investors at the present valuation.

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