We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Four Corners (FCPT) Continues Acquisition, Buys Missouri Assets
Read MoreHide Full Article
Four Corners Property Trust (FCPT - Free Report) is on an acquisition spree and recently purchased three Sun Auto Tire & Service properties for $9.1 million. The move came as part of its portfolio-expansion efforts, with real estate leased to strong credit operators.
The latest acquisition involves properties that are located in strong retail corridors in Missouri and are corporate-operated under long-term, triple net leases. Hence, the buyout seems a strategic fit for FCPT and is likely to generate steady revenues over the long term.
Apart from the latest acquisition, Four Corners recently shelled out $12.3 million for purchasing a Cheesecake Factory property and a dual-tenant Starbucks (SBUX - Free Report) and AT&T (T - Free Report) property. Located in a highly trafficked corridor in Kansas, these properties, which are corporate-operated under net leases, have a weighted average of roughly seven years of residual term.
Also, Four Corners announced the acquisition of a Bubba’s 33-restaurant property for $3.1 million. Positioned in an extremely trafficked corridor in Texas, this marked the last property to be acquired from the seven-property $17.1 million outparcel portfolio transaction initially announced in July 2022.
Primarily engaged in the ownership and acquisition of high-quality restaurants and retail properties, Four Corners seeks potential acquisition opportunities to enhance its portfolio. In the third quarter of 2022, FCPT acquired 26 properties for a combined purchase price of $69.9 million at an initial weighted average cash yield of 6.3%.
Some better-ranked stocks from the REIT sector are VICI Properties Inc. (VICI - Free Report) and Lamar Advertising Company (LAMR - Free Report) , each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for VICI Properties’ 2022 FFO per share has moved 3.2% north to $1.92 over the past month.
The Zacks Consensus Estimate for Lamar Advertising Company’s ongoing year’s FFO per share has been raised 1.4% over the past two months to $7.34.
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.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Four Corners (FCPT) Continues Acquisition, Buys Missouri Assets
Four Corners Property Trust (FCPT - Free Report) is on an acquisition spree and recently purchased three Sun Auto Tire & Service properties for $9.1 million. The move came as part of its portfolio-expansion efforts, with real estate leased to strong credit operators.
The latest acquisition involves properties that are located in strong retail corridors in Missouri and are corporate-operated under long-term, triple net leases. Hence, the buyout seems a strategic fit for FCPT and is likely to generate steady revenues over the long term.
Apart from the latest acquisition, Four Corners recently shelled out $12.3 million for purchasing a Cheesecake Factory property and a dual-tenant Starbucks (SBUX - Free Report) and AT&T (T - Free Report) property. Located in a highly trafficked corridor in Kansas, these properties, which are corporate-operated under net leases, have a weighted average of roughly seven years of residual term.
Also, Four Corners announced the acquisition of a Bubba’s 33-restaurant property for $3.1 million. Positioned in an extremely trafficked corridor in Texas, this marked the last property to be acquired from the seven-property $17.1 million outparcel portfolio transaction initially announced in July 2022.
Primarily engaged in the ownership and acquisition of high-quality restaurants and retail properties, Four Corners seeks potential acquisition opportunities to enhance its portfolio. In the third quarter of 2022, FCPT acquired 26 properties for a combined purchase price of $69.9 million at an initial weighted average cash yield of 6.3%.
Four Corners currently carries a Zacks Rank #3 (Hold). Shares of FCPT have rallied 11.3% so far in the quarter, outperforming the industry’s increase of 5.3%. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are VICI Properties Inc. (VICI - Free Report) and Lamar Advertising Company (LAMR - Free Report) , each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for VICI Properties’ 2022 FFO per share has moved 3.2% north to $1.92 over the past month.
The Zacks Consensus Estimate for Lamar Advertising Company’s ongoing year’s FFO per share has been raised 1.4% over the past two months to $7.34.
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.