Four Corners Property Trust, Inc.

FCPT Announces Acquisition via Sale-Leaseback of an Automotive Service Property for $3.5 Million

Four Corners Property Trust acquired an automotive service property in Kentucky for $3.5 million via sale-leaseback from a national operator. The property sits in a highly trafficked corridor and is leased under a long-term, corporate-operated triple net lease. The deal was priced at a cap rate in line with previous FCPT transactions, consistent with the REIT's ongoing acquisition program.

•1mo ago

FCPT Declares Fourth Quarter 2026 Monthly Dividends

Four Corners Property Trust's board declared fourth quarter 2026 monthly cash dividends of $0.1265 per share, a 3.5% increase from the prior quarter. The monthly payouts equate to $1.5180 per share annualized and are payable on November 16, December 15, and January 15, 2027 to shareholders of record on the prior month-end record dates. FCPT is a net-lease REIT focused on restaurant and retail properties, so the dividend hike modestly strengthens its income proposition but is otherwise routine capital-allocation news.

•1mo ago

FCPT Announces Acquisition of a Cooper’s Hawk Restaurant Property for $9.1 Million

Four Corners Property Trust (FCPT) acquired a Cooper's Hawk restaurant property in Michigan for $9.1 million. The property sits in a strong retail corridor and is corporate-operated under a long-term triple net lease with ten years of term remaining, priced at a 6.6% cap rate on closing-date rent, excluding transaction costs. This is routine portfolio growth for the Mill Valley-based net-lease REIT, which focuses on acquiring restaurant and retail properties leased on a net basis.

•1mo ago

FCPT Announces Acquisition of a 7-Eleven Property for $1.5 Million

Four Corners Property Trust acquired a 7-Eleven property located in Pennsylvania for $1.5 million. The property is corporate-operated under a triple net lease with roughly ten years of term remaining and was priced at a 6.9% cap rate. This deal supports the company's strategy of growing its portfolio of high-quality, net-leased retail and restaurant properties.

•1mo ago

FCPT Announces Acquisition of Five Novant Health Urgent Care Properties for $11.7 Million

FCPT acquired five Novant Health Urgent Care properties for $11.7 million, expanding its portfolio of net-leased assets. The properties are located in strong retail corridors in South Carolina and are corporate-operated with roughly five years of lease term remaining. The transaction was priced at a 6.9% cap rate, including rent credits received at closing.

•2mo ago

FCPT Announces Sale-Leaseback of a Sun Auto Tire & Service Property for $2.5 Million

FCPT acquired a Sun Auto Tire & Service property in North Carolina for $2.5 million through a sale-leaseback transaction. The asset is corporate-operated and subject to a long-term triple net lease with approximately 15 years of term remaining. The transaction was priced at a cap rate consistent with the company's previous acquisitions.

•2mo ago

FCPT: 10-Q · periodic report

For the six months ended June 30, 2026, Four Corners Property Trust reported total revenues of $156.6 million, an increase from $144.3 million in the prior year period. Net income available to common shareholders grew to $60.3 million, up from $54.1 million, driven by growth in both real estate and restaurant operations segments. In subsequent events, the company proactively managed its capital structure by entering into a new $1.15 billion credit agreement on July 28, 2026. Proceeds from the new facility were used to repay term loans maturing in November 2026 and February 2027, extending maturities and increasing total liquidity capacity. The company invested $298.1 million in the acquisition of 111 net lease properties during the subsequent event period, with an investment yield of approximately 6.4%. However, the company maintains significant tenant concentration risk, with Darden Restaurants representing approximately 43.8% of scheduled base rents as of June 30, 2026.

SEC 10-Q•2mo ago

FCPT Announces Second Quarter 2026 Financial and Operating Results

FCPT reported Q2 rental revenue of $70.0 million, up 8% year-over-year, with AFFO per share growing 1.4% to $0.45. The company maintained 99.7% rent collection and announced a transition to monthly dividends, beginning with a $0.1222 per share payment for July. Management completed the largest investment in company history—a $268 million acquisition—and upsized its credit facility to $1.15 billion, expanding total liquidity to $525 million.

•2mo ago

FCPT Announces Upsizing and Extension of Unsecured Credit Facility

FCPT upsized its unsecured credit facility to $1.15 billion, adding a new $400 million term loan maturing in August 2031. The company used proceeds to repay $190 million of near-term maturities and earmarked $210 million for investments, while locking in improved spreads that reduce annual interest expense by approximately $450,000. FCPT also extended an $85 million term loan tranche to March 2028 and swapped 72% of its total term loan balance to a fixed rate of 3.1%.

•2mo ago

FCPT Announces Acquisition of a D&W Fresh Market Property for $6.9 Million

Four Corners Property Trust acquired a net-leased D&W Fresh Market property in Michigan for $6.9 million. The site is operated by C&S Wholesale Grocers under a long-term lease and is situated in a high-traffic corridor. The transaction was priced at a cap rate consistent with the company's previous acquisitions.

•2mo ago

FCPT Announces Acquisition of a Buffalo Wild Wings Property for $2.9 Million

Four Corners Property Trust acquired a corporate-operated Buffalo Wild Wings property in Idaho for $2.9 million. The transaction was priced at a 7.0% cap rate and includes a triple net lease with approximately seven years of term remaining. This small-scale acquisition aligns with FCPT's strategy of growing its portfolio of net-leased restaurant and retail properties.

•3mo ago

FCPT Announces Acquisition of a Left Lane Auto Property for $3.1 Million

FCPT acquired a newly constructed Left Lane Auto property in South Carolina for $3.1 million. The asset is corporate-operated under a long-term triple net lease with approximately 15 years of term remaining and was purchased at a 6.9% cap rate. This transaction aligns with the company's strategy to grow its portfolio of high-quality, net-leased restaurant and retail properties.

•3mo ago

FCPT Announces Acquisition of a Novant Health Urgent Care Property for $2.8 Million

Four Corners Property Trust acquired a Novant Health Urgent Care property in South Carolina for $2.8 million. The asset is corporate-operated under a long-term triple net lease and located in a high-traffic corridor. The transaction cap rate is consistent with the company's previous acquisition activity.

•3mo ago

FCPT Announces Acquisition of a Burger King Property for $1.6 Million

FCPT acquired a Burger King property in Minnesota for $1.6 million, expanding its portfolio of net-leased restaurant assets. The property is franchisee-operated by Dhanani Group under a triple net lease with approximately six years of term remaining. The transaction was priced at a 7.4% cap rate on rent as of the closing date.

•3mo ago

Shore Capital Partners Announces Sale of Shore Capital Real Estate Partners Fund I Portfolio to Four Corners Property Trust

Four Corners Property Trust acquired a portfolio of 102 Mission Pet Health veterinary properties from Shore Capital Partners Real Estate Partners Fund I for approximately $268 million. Mission Pet Health, one of the nation's largest veterinary operators with over 930 locations, will remain the long-term tenant under net leases at each location. The transaction closed on July 16, 2026, marking the successful realization of Shore's inaugural real estate fund.

•3mo ago

FCPT Closes Acquisition of 102 Mission Pet Health Veterinary Properties for $268 Million as part of Previously Announced Mission Pet Health Veterinary Transaction

FCPT closed the acquisition of 102 Mission Pet Health veterinary properties for $268.0 million, completing a transaction initially announced in May. The deal adds approximately $17.37 million in annualized rent and brings total year-to-date investments to $364.3 million across 139 properties. CEO Bill Lenehan highlighted that the record acquisition volume demonstrates the team's ability to execute accretive opportunities at scale.

•3mo ago

FCPT Announces Acquisition of a Gerber Collision Property for $4.8 Million

Four Corners Property Trust acquired a newly constructed Gerber Collision property in Texas for $4.8 million. The transaction was priced at a 7.0% cap rate and is corporate-operated under a net lease with roughly four years of term remaining. This purchase aligns with FCPT's strategy to grow its portfolio of high-quality, net-leased restaurant and retail properties.

•3mo ago

FCPT Announces Acquisition of a Drilling Tools International Property for $4.7 Million

FCPT acquired a Drilling Tools International property in Louisiana for $4.7 million, a transaction priced at a 7.1% cap rate. The manufacturing and rental facility is corporate-operated under a long-term triple net lease with approximately 11 years of term remaining. While the company focuses primarily on restaurant and retail assets, this acquisition adds an industrial property in a strong corridor to its portfolio.

•3mo ago

FCPT Announces Acquisition of a Springfield Clinic Property for $3.5 Million

FCPT acquired a Springfield Clinic property in Illinois for $3.5 million, secured by a triple net lease with approximately 15 years remaining. The transaction was priced at a 6.7% cap rate and fits the company's strategy of acquiring high-quality net-leased properties. Springfield Clinic is a physician-led organization with over 650 providers in central Illinois.

•3mo ago

FCPT Declares Q2 and Q3 Dividends and Announces Commencement of Monthly Dividend

Four Corners Property Trust (FCPT) announced it will commence monthly cash dividends starting in the third quarter of 2026. The final quarterly dividend of $0.3665 per share is payable July 15, 2026, followed by three monthly payments of $0.1222 per share in August, September, and October. The aggregate monthly payments are equivalent to the current quarterly amount, maintaining an annualized yield of $1.4660 per share, a move CEO Bill Lenehan says aligns with the company's stable rent cash flows.

•4mo ago

FCPT Announces Acquisition of 14 Sun Auto Tire & Service Properties for $26.0 Million

Four Corners Property Trust acquired 14 Sun Auto Tire & Service properties for $26.0 million, expanding its portfolio of net-leased assets. The properties are located across Missouri, Arkansas, and Illinois and are corporate-operated under long-term, triple net leases. Management noted the transaction was priced at a cap rate consistent with previous company acquisitions.

•4mo ago

FCPT: 8-K · acquisition merger

Four Corners Property Trust (FCPT) announced a definitive agreement to acquire up to 102 veterinary properties operated by Mission Pet Health for a purchase price of up to $268 million. The transaction, expected to close in early Q3 2026, involves two triple-net master leases covering 100 of the properties, with a weighted average remaining term of approximately 10 years and annual rent escalations averaging over 2.0%. Pro forma for this acquisition and other recent deals, Mission Pet Health will become FCPT’s third-largest brand, comprising approximately 6% of the company’s cash rent. The deal increases FCPT’s exposure to the medical retail sector to approximately 16% of total cash rent, while reducing its concentration risk in its largest tenant, Darden Restaurants, to approximately 41%. FCPT plans to fund the acquisition using a mix of cash on hand and its undrawn revolving credit facility, noting that closing is not contingent on additional equity capital raising. The company recently closed on a $200 million 7-year delayed draw term loan, of which $50 million was drawn at closing, with the remaining $150 million expected to be drawn in Q2 and Q3 to support its investment pipeline.

SEC 8-K•4mo ago

FCPT Announces Agreement to Acquire up to 102 Mission Pet Health Veterinary Properties for $268 Million

Four Corners Property Trust (FCPT) signed a definitive agreement to acquire up to 102 Mission Pet Health veterinary properties for $268 million from Shore Capital Real Estate Partners Fund I. The portfolio is anchored by two triple-net master leases with approximately 10 years remaining and average annual rent escalations exceeding 2.0%. Initial cash rent is approximately $17.33 million, yielding conservative EBITDAR coverage averaging over 6.0x. Pro forma, Mission Pet Health will become FCPT’s third-largest brand, comprising 6% of cash rent. The deal increases exposure to medical retail to 16% while reducing concentration risk in Darden Restaurants to 41%.

•4mo ago

FCPT Announces Acquisition of a Belle Tire Property for $2.4 Million

FCPT acquired a Belle Tire property in Ohio for $2.4 million at a 7.2% cap rate. The site is corporate-operated under a long-term triple net lease with approximately five years of term remaining. Belle Tire is a regional retailer with over 180 locations across the Midwest.

•5mo ago

FCPT Announces First Quarter 2026 Financial and Operating Results

FCPT reported Q1 rental revenue of $69.8 million, up 10% year-over-year, with AFFO per share growing 3.4% to $0.45. The company closed on a new $200 million senior unsecured delayed draw term loan facility to fund its investment pipeline, maintaining a leverage ratio of 5.0x net debt to adjusted EBITDAre. Portfolio fundamentals remained robust with 99.7% rent collection and 99.6% occupancy, alongside $26.2 million in new acquisitions at a 6.8% cash yield.

•5mo ago