FCPT


Associated tags: REIT, Construction & Property, Commercial Building & Real Estate, NYSE, Retail, Bar, Restaurant, Commercial property

Locations: KANSAS, MARYLAND, TEXAS, ILLINOIS, MICHIGAN, MILL VALLEY, MISSISSIPPI, NORTH CAROLINA, CALIFORNIA, FLORIDA, UNITED STATES, NORTH AMERICA, KENTUCKY, TENNESSEE, MISSOURI, INDIANA, OHIO, CA

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

Retrieved on: 
Thursday, March 7, 2024

Mr. Morgan will retire effective May 3, 2024, and assume an interim advisory role within the Company to facilitate the transition.

Key Points: 
  • Mr. Morgan will retire effective May 3, 2024, and assume an interim advisory role within the Company to facilitate the transition.
  • Prior to FCPT, Mr. Wernig spent several years in J.P. Morgan’s investment banking group focused on clients in the real estate and gaming sectors.
  • Bill Lenehan, CEO of FCPT, said, “I would like to thank Gerry for his service as CFO.
  • We are excited for what the future holds with Patrick as CFO and look forward to a smooth transition.”

FCPT Announces Fourth Quarter 2023 Financial and Operating Results

Retrieved on: 
Wednesday, February 14, 2024

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.

Key Points: 
  • 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.
  • NAREIT-defined FFO per diluted share for the fourth quarter was $0.41, representing a $0.01 increase compared to the same quarter in 2022.
  • FCPT declared a dividend of $0.345 per common share for the fourth quarter of 2023.
  • During the fourth quarter, FCPT sold one property for sales price of $3.8 million representing $0.3 million of gain.

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

Retrieved on: 
Wednesday, February 14, 2024

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.

Key Points: 
  • 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 systems in the United States.
  • The property is located in a highly trafficked corridor in Tennessee and is corporate-operated under a long-term, triple net lease with approximately 10 years of term remaining.
  • The transaction was priced at a 6.9% cap rate on rent as of the closing date and exclusive of transaction costs.

FCPT Announces Tax Treatment of 2023 Distributions

Retrieved on: 
Monday, January 22, 2024

If you held common stock of FCPT in your name at any time during 2023, an IRS Form 1099-DIV will be provided to you by Broadridge Corporate Issuer Solutions, FCPT’s transfer agent during 2023.

Key Points: 
  • If you held common stock of FCPT in your name at any time during 2023, an IRS Form 1099-DIV will be provided to you by Broadridge Corporate Issuer Solutions, FCPT’s transfer agent during 2023.
  • FCPT’s federal income tax return for the year ended December 31, 2023 has not yet been filed.
  • Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return.
  • Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment related to FCPT common stock dividends.

FCPT to Report Fourth Quarter 2023 Financial Results

Retrieved on: 
Monday, January 8, 2024

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 and twelve months ended December 31, 2023, after the market close on Wednesday, February 14, 2024.

Key Points: 
  • 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 and twelve months ended December 31, 2023, after the market close on Wednesday, February 14, 2024.
  • A conference call and audio webcast with analysts and investors will be held on Thursday, February 15 at 11:00 a.m. Eastern Time, to discuss the results.
  • Investors will then be issued a personalized phone number and PIN to dial into the live conference call.
  • Individuals can pre-register any time prior to the start of the conference call on Thursday, February 15.

FCPT Announces Acquisition of Two Oak Street Health Properties for $4.2 Million

Retrieved on: 
Friday, January 5, 2024

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 two Oak Street Health properties for $4.2 million.

Key Points: 
  • 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 two Oak Street Health properties for $4.2 million.
  • The properties are located in highly trafficked corridors in Iowa and Louisiana and are corporate-operated under long-term, net leases.
  • The transaction was priced at a cap rate in range with previous FCPT transactions.

FCPT Announces Sale-Leaseback of a Tire Discounters Property for $1.8 Million

Retrieved on: 
Friday, December 29, 2023

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 Tire Discounters property for $1.8 million via sale-leaseback transaction.

Key Points: 
  • 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 Tire Discounters property for $1.8 million via sale-leaseback transaction.
  • Tire Discounters is the country’s largest family-owned and operated automotive service provider, with its brands currently operating over 200 locations and growing.
  • The property is located 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.

FCPT Announces Acquisition of Two Popeyes Properties for $4.7 Million

Retrieved on: 
Thursday, December 28, 2023

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 two Popeyes properties for $4.7 million.

Key Points: 
  • 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 two Popeyes properties for $4.7 million.
  • The properties are located in strong retail corridors in Arizona and Illinois and are occupied under a long-term, triple net lease with approximately 20 years of term remaining.
  • The properties are in the final stages of construction but rent will commence immediately at close.
  • The transaction was priced at a cap rate in range with previous FCPT transactions.

FCPT Announces Sale-Leaseback of a Tire Discounters Property for $1.7 Million

Retrieved on: 
Wednesday, December 27, 2023

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 Tire Discounters property for $1.7 million via sale-leaseback transaction.

Key Points: 
  • 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 Tire Discounters property for $1.7 million via sale-leaseback transaction.
  • Tire Discounters is the country’s largest family-owned and operated automotive service provider, with its brands currently operating over 200 locations and growing.
  • The property is located in Ohio, 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.

FCPT Announces Fourth Quarter 2023 Dividend

Retrieved on: 
Friday, November 10, 2023

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 fourth quarter of 2023.

Key Points: 
  • 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 fourth quarter of 2023.
  • This represents a 1.5% increase from the prior quarter.
  • The dividend is payable on January 12, 2024 to shareholders of record as of December 29, 2023.