Four Corners Property Trust Acquires McAlister's Deli
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Businesswire
- Acquisition Announcement: Four Corners Property Trust has acquired a McAlister's Deli property for $2.3 million, which is newly constructed and located in a strong retail corridor in Michigan, demonstrating the company's ongoing commitment to acquiring high-quality assets.
- Long-Term Lease: The property is operated by a franchisee under a long-term net lease, ensuring stable cash flow and enhancing the company's attractiveness in the restaurant and retail investment sectors.
- Market Positioning: The transaction was priced at a cap rate consistent with previous FCPT transactions, indicating the company's consistent pricing strategy and accurate assessment of asset value in the market.
- Strategic Expansion: FCPT aims to grow its portfolio by acquiring more restaurant and retail properties, and this acquisition further solidifies its position in the high-quality net lease market, supporting future growth potential.
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: 24.430
Low
29.00
Averages
29.75
High
30.00
Current: 24.430
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.
