FCPT Acquires GreatWater 360 Auto Care Property for $1.2 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 10h ago
0mins
Source: Yahoo Finance
- Acquisition Transaction: FCPT has acquired a GreatWater 360 Auto Care property for $1.2 million through a sale-leaseback arrangement, ensuring a long-term triple net lease that enhances its portfolio in high-quality property investments.
- Market Positioning: The property is situated in a highly trafficked corridor in Indiana, which is expected to attract significant customer footfall, thereby strengthening FCPT's competitive edge in the restaurant and retail property market.
- Investment Strategy: This acquisition aligns with FCPT's investment strategy aimed at increasing its holdings of quality properties to drive long-term growth, particularly in the automotive service sector.
- Financial Performance: The transaction's cap rate is consistent with previous FCPT deals, indicating the company has maintained strong financial discipline during the acquisition process, which helps bolster investor confidence and supports future capital operations.
Analyst Views on FCPT
Wall Street analysts forecast FCPT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FCPT is 29.75 USD with a low forecast of 29.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 23.920
Low
29.00
Averages
29.75
High
30.00
Current: 23.920
Low
29.00
Averages
29.75
High
30.00
About FCPT
Four Corners Property Trust, Inc. is a real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and retail industries. The Company's segments are real estate operations and restaurant operations. Its real estate operations segment consists of rental revenues primarily generated by leasing restaurant properties to tenants through net lease arrangements under which the tenant is primarily responsible for ongoing costs relating to the properties. Its restaurant operations segment is conducted through a taxable REIT subsidiary and consists of its Kerrow Restaurant Operating Business. The Kerrow Restaurant Operating Business consists of seven LongHorn Steakhouse restaurants located in the San Antonio, Texas area. Its properties are located in Florida, Texas, Georgia, Ohio, Illinois, Indiana, Michigan, Pennsylvania, Wisconsin, Alabama, Minnesota, Arkansas, Louisiana, New York, Arizona, Nevada, Mississippi, and Colorado, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
