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) Boosts Portfolio With Virginia Property
Read MoreHide Full Article
Four Corners Property Trust (FCPT - Free Report) shelled out $1.2 million to acquire a VCA Animal Hospital property in Virginia. The move came as part of its portfolio-expansion efforts, with real estate leased to strong credit operators.
The property is corporate-operated under a net lease with roughly three years of residual term, and the transaction was priced at a cap rate of 7.6%, excluding transaction costs.
Of late, this real estate investment trust (REIT), mainly engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has been on an acquisition spree. Recently, FCPT expended $2.5 million to acquire a WellNow Urgent Care property in a strong retail corridor in Indiana.
The company also shelled out $2.2 million to acquire a WellNow Urgent Care center in a strong retail corridor in Indiana. It acquired a WellNow Urgent Care property in a strong retail corridor in New York for $2.1 million.
Apart from the abovementioned acquisition, recently, FCPT acquired a Methodist Le Bonheur Pediatric Clinic property located in a strong retail corridor in Tennessee for $3.3 million. It also acquired an Aspen Dental property located in a strong retail corridor in New Mexico for $1.9 million and a NAPA Auto Parts property in a strong retail corridor in Indiana for $935,000.
These acquisitions seem a strategic fit for Four Corners and are likely to generate a stable stream of revenues over the long term. However, increasing interest rates and macroeconomic uncertainty are raising concerns.
Some better-ranked stocks from the REIT sector are Americold Realty Trust, Inc. (COLD - Free Report) and Terreno Realty Corporation (TRNO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Americold Realty’s 2023 FFO per share is currently pegged at $1.19, which suggests 7.2% year-over-year growth.
The Zacks Consensus Estimate for Terreno Realty Corporation’s ongoing year’s FFO per share has been raised two cents over the past two months to $2.17.
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
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Four Corners (FCPT) Boosts Portfolio With Virginia Property
Four Corners Property Trust (FCPT - Free Report) shelled out $1.2 million to acquire a VCA Animal Hospital property in Virginia. The move came as part of its portfolio-expansion efforts, with real estate leased to strong credit operators.
The property is corporate-operated under a net lease with roughly three years of residual term, and the transaction was priced at a cap rate of 7.6%, excluding transaction costs.
Of late, this real estate investment trust (REIT), mainly engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has been on an acquisition spree. Recently, FCPT expended $2.5 million to acquire a WellNow Urgent Care property in a strong retail corridor in Indiana.
The company also shelled out $2.2 million to acquire a WellNow Urgent Care center in a strong retail corridor in Indiana. It acquired a WellNow Urgent Care property in a strong retail corridor in New York for $2.1 million.
Apart from the abovementioned acquisition, recently, FCPT acquired a Methodist Le Bonheur Pediatric Clinic property located in a strong retail corridor in Tennessee for $3.3 million. It also acquired an Aspen Dental property located in a strong retail corridor in New Mexico for $1.9 million and a NAPA Auto Parts property in a strong retail corridor in Indiana for $935,000.
These acquisitions seem a strategic fit for Four Corners and are likely to generate a stable stream of revenues over the long term. However, increasing interest rates and macroeconomic uncertainty are raising concerns.
Four Corners currently carries a Zacks Rank #3 (Hold). Shares of FCPT have increased 11.8% in the past six months, outperforming the industry’s growth of 6.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are Americold Realty Trust, Inc. (COLD - Free Report) and Terreno Realty Corporation (TRNO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Americold Realty’s 2023 FFO per share is currently pegged at $1.19, which suggests 7.2% year-over-year growth.
The Zacks Consensus Estimate for Terreno Realty Corporation’s ongoing year’s FFO per share has been raised two cents over the past two months to $2.17.
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.