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MILL VALLEY - Four Corners Property Trust (NYSE:FCPT), a $2.75 billion market cap REIT with a notable 5.2% dividend yield, has acquired an Olive Garden restaurant property in North Carolina for $4.1 million, according to a press release statement issued by the company.
The property is situated in what the company describes as a strong retail corridor and is corporate-operated under a long-term triple net lease. FCPT indicated the transaction was priced at a cap rate consistent with its previous acquisitions. According to InvestingPro, the company maintains a "GOOD" overall financial health score, with liquid assets exceeding short-term obligations.
Four Corners Property Trust is a real estate investment trust that specializes in owning and acquiring net-leased restaurant and retail properties. The company is headquartered in Mill Valley, California.
The acquisition aligns with FCPT’s stated business strategy of expanding its portfolio through the acquisition of additional real estate properties for lease on a net basis, primarily focusing on the restaurant and retail sectors.
This transaction represents a continuation of the company’s property acquisition activities in its target market segments.
In other recent news, Four Corners Property Trust (FCPT) reported its first-quarter earnings for 2025, which showed a slight miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.26, falling short of the expected $0.28, while revenue came in at $63.5 million, below the anticipated $66.31 million. Despite these misses, the company achieved a 9.1% increase in cash rental income year-over-year, with portfolio occupancy remaining strong at 99.4%. In another development, FCPT acquired an automotive service property in Texas for $5.8 million, part of its strategy to grow its holdings of commercial properties with long-term lease agreements.
Additionally, FCPT announced the appointment of Douglas B. Hansen as the new Chair of the Board following his re-election. Hansen has been with FCPT since its inception and brings a wealth of experience from his background in real estate and capital markets. The company continues to focus on expanding its portfolio through strategic acquisitions and maintaining a strong market position. Furthermore, FCPT’s strategic acquisitions and low leverage have strengthened its market position, as noted by analysts. These recent developments reflect FCPT’s ongoing efforts to maintain its position in the market and its strategic direction.
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