Four Corners Property Trust Hits $265 Million in 2024 Acquisitions

Zacks2024-12-30

Four Corners Property Trust FCPT recently expanded its portfolio with the acquisition of a Burger King property in Virginia for $1.7 million. Located in a strong retail corridor, this property is ...

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Located in a strong retail corridor, this property is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/four-corners-property-trust-hits-150600646.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Four Corners Property Trust Hits $265 Million in 2024 Acquisitions</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFour Corners Property Trust Hits $265 Million in 2024 Acquisitions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-30 23:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/four-corners-property-trust-hits-150600646.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Four Corners Property Trust FCPT recently expanded its portfolio with the acquisition of a Burger King property in Virginia for $1.7 million. Located in a strong retail corridor, this property is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/four-corners-property-trust-hits-150600646.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://finance.yahoo.com/news/four-corners-property-trust-hits-150600646.html","article_id":"2495543578","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2495543578","pubTimestamp":1735571160,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"All these acquisitions reflect FCPT's strategy of building a diversified portfolio designed to deliver a consistent revenue stream. However, the company's growth efforts could encounter challenges in the still elevated interest rate environment, leading to the continuation of high borrowing costs.Over the past six months, shares of this Zacks Rank #4  company have risen 12.3% compared with the industry's growth of 3.4%. However, analysts seem bearish on this stock, with the Zacks Consensus Estimate for its 2024 funds from operations  per share being lowered marginally over the past two months to $1.72.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Four Corners Property Trust 2024年收购金额达2.65亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CCI":1,"FCPT":1,"SLG":0.9},"content_text":"Four Corners Property Trust FCPT recently expanded its portfolio with the acquisition of a Burger King property in Virginia for $1.7 million. Located in a strong retail corridor, this property is secured under a corporate long-term, triple net lease with roughly 13 years of term remaining, offering a capitalization rate of 7.0% on rent as of the closing date, exclusive of transaction costs.This acquisition marks the culmination of a robust year for FCPT, bringing its total real estate acquisitions in 2024 to 87 properties, representing an investment of approximately $265 million. $199 million of these acquisitions occurred since late August, highlighting a significant acceleration in investment activities during the latter part of the year.The company's consistent acquisition strategy and focus on high-quality properties have contributed to its solid financial performance. Prior to the Burger King property acquisition, FCPT announced the acquisition of a portfolio of automotive service properties from a national operator for $12 million through sale-leaseback. The properties are located in the highly trafficked corridors of multiple states. Also, FCPT bought $24.8 million worth of Christian Brothers Automotive properties in the highly trafficked corridors of Georgia (two), Indiana (two), Florida (one) and Illinois (one). FCPT's CEO, Bill Lenehan, expressed enthusiasm about maintaining the current momentum into 2025, aiming to further expand the company's investment platform and portfolio.\nFCPT: In a Nutshell\nAll these acquisitions reflect FCPT's strategy of building a diversified portfolio designed to deliver a consistent revenue stream. However, the company's growth efforts could encounter challenges in the still elevated interest rate environment, leading to the continuation of high borrowing costs.Over the past six months, shares of this Zacks Rank #4 (Sell) company have risen 12.3% compared with the industry's growth of 3.4%. However, analysts seem bearish on this stock, with the Zacks Consensus Estimate for its 2024 funds from operations (FFO) per share being lowered marginally over the past two months to $1.72.\nImage Source: Zacks Investment Research\nStocks to Consider\nSome better-ranked stocks from the REIT sector are Crown Castle CCI and SL Green Realty SLG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Crown Castle’s current-year FFO per share has moved a cent north in the past two months to $7.00.The Zacks Consensus Estimate for SL Green’s 2024 FFO per share has been revised 2.9% north over the past month to $7.83.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCrown Castle Inc. (CCI) : Free Stock Analysis Report\nSL Green Realty Corporation (SLG) : Free Stock Analysis Report\nFour Corners Property Trust, Inc. (FCPT) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2495543578"}