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Four Corners (FCPT) Continues Expansion With $3.3M Purchase
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Four Corners Property Trust (FCPT - Free Report) recently shelled out $3.3 million for the purchase of a Caliber Collision property, as part of its portfolio-expansion efforts. The recently-constructed Indiana property is occupied under a triple net lease, with roughly 15 years of residual term.
Being positioned in a retail corridor with high traffic, this property is likely to keep witnessing solid demand in the days to come. Moreover, the buyout looks strategic, with the transaction being priced at a cap rate in range with its previous transactions.
Apart from this property in Indiana, the company has also purchased a Caliber Collision property in Illinois for $3 million. The corporate-operated property is occupied under a net lease, with roughly 15 years of residual term.
Primarily engaged in the ownership of high-quality net-leased restaurant properties, Four Corners maintains an investment-grade financial position. The company looks for attractive acquisition opportunities to fortify its portfolio with real estate catering to restaurant and retail industries.
In addition, it has been on an acquisition spree, adding properties that cater to restaurant and retail industries.
Some of the company’s notable acquisitions in November include an Outback Steakhouse property in Florida for $1.9 million and a Starbucks (SBUX - Free Report) property in Connecticut for $1.8 million. Both properties were purchased from Washington Prime Group . Including these, Four Corners has now acquired 51 properties for a total of $82.6 million from Washington Prime Group.
The pandemic has hit the restaurant as well as the retail industry hard and rent collections have been dreary. However, the reopening of economy is reinstating hopes and things are now looking brighter compared with late March, thanks to the recovery in sales.
Shares of this Zacks Rank #3 (Hold) company have appreciated 6.1% over the past year, as against the industry's decline of 2.8%.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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Four Corners (FCPT) Continues Expansion With $3.3M Purchase
Four Corners Property Trust (FCPT - Free Report) recently shelled out $3.3 million for the purchase of a Caliber Collision property, as part of its portfolio-expansion efforts. The recently-constructed Indiana property is occupied under a triple net lease, with roughly 15 years of residual term.
Being positioned in a retail corridor with high traffic, this property is likely to keep witnessing solid demand in the days to come. Moreover, the buyout looks strategic, with the transaction being priced at a cap rate in range with its previous transactions.
Apart from this property in Indiana, the company has also purchased a Caliber Collision property in Illinois for $3 million. The corporate-operated property is occupied under a net lease, with roughly 15 years of residual term.
Primarily engaged in the ownership of high-quality net-leased restaurant properties, Four Corners maintains an investment-grade financial position. The company looks for attractive acquisition opportunities to fortify its portfolio with real estate catering to restaurant and retail industries.
In addition, it has been on an acquisition spree, adding properties that cater to restaurant and retail industries.
Some of the company’s notable acquisitions in November include an Outback Steakhouse property in Florida for $1.9 million and a Starbucks (SBUX - Free Report) property in Connecticut for $1.8 million. Both properties were purchased from Washington Prime Group . Including these, Four Corners has now acquired 51 properties for a total of $82.6 million from Washington Prime Group.
The pandemic has hit the restaurant as well as the retail industry hard and rent collections have been dreary. However, the reopening of economy is reinstating hopes and things are now looking brighter compared with late March, thanks to the recovery in sales.
Shares of this Zacks Rank #3 (Hold) company have appreciated 6.1% over the past year, as against the industry's decline of 2.8%.
A Key Pick
City Office REIT, Inc.’s (CIO - Free Report) Zacks Consensus Estimate for 2020 funds from operations (FFO) per share has been revised 2.6% upward to $1.17 over the past month. The company currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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