Four Corners Property Trust Inc

News & Events zu Four Corners Property Trust Inc (FCPT)

$23.240

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FCPT-News

FCPT-Events

10/28 17:09

FCPT Reports Q3 Revenue of $83.68M, Initiates Buyback Program

Reports Q3 revenue $83.68M, two estimates $84.38M. "We acquired more than $326 million in net lease properties during the quarter. This volume was a record for FCPT and was funded entirely with low-cost debt. This summer, we also successfully refinanced and upsized our credit facility to significantly extend our maturity profile. As expected, we also recently extended 100% of Olive Garden and LongHorn leases maturing in 2027 without landlord concessions," said Bill Lenehan, Chief Executive Officer. "Our portfolio is in great shape, and as we look forward, we remain as focused as ever on accretive capital allocation. As such and given current market conditions, we have announced our inaugural share repurchase program. At the current share price, we view share repurchases as delivering more value than property purchases. That said, we have started to see new acquisitions being priced at higher cap rates. We will continue to modulate our capital allocation decisions to maximize shareholder value creation."

10/7 17:00

Four Corners Property Trust Acquires LongHorn Steakhouse Property for $2.4M

Four Corners Property Trust announced the acquisition of a LongHorn Steakhouse property for $2.4M. The property is located in a highly trafficked corridor in Ohio and is corporate-operated under a triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

9/23 20:30

Four Corners Property Trust Acquires Automotive Service Property for $3.5 Million

Four Corners Property Trust announces the acquisition of an automotive service property leased to a national operator for $3.5 million via sale-leaseback. The property is located in a highly trafficked corridor in Kentucky and is corporate-operated under a long term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

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