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Four Corners Acquires LongHorn Steakhouse Property for $2.5M
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Key Takeaways
FCPT acquired the LongHorn Steakhouse property in Michigan for $2.5 million to expand its portfolio
The property was bought at a 6.5% cap rate and is corporate-operated under a long-term triple-net lease.
This move supports FCPT's diversification strategy and aims to drive future revenue growth.
Four Corners Property Trust (FCPT - Free Report) recently announced the acquisition of LongHorn Steakhouse property for $2.5 million. This acquisition highlights the company’s expansionary and diversification efforts, which will aid future revenue growth.
The property is located in a highly trafficked corridor in Michigan. Priced at a 6.5% cap rate on rent as of the closing date, exclusive of transaction costs, the property is corporate-operated under a long-term triple-net lease.
FCPT: In a Snapshot
This real estate investment trust (REIT), mainly engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has a track record of acquisitions.
On June 24, 2025, FCPT announced the acquisition of the four Cheddar's Scratch Kitchen properties for $14.7 million.
The above purchases fall in line with FCPT’s strategy of structuring a portfolio that will withstand varied economic cycles. However, the company’s expansion may face potential headwinds in an elevated interest-rate environment, which could keep its borrowing costs high.
In the past six months, shares of this Zacks Rank #3 (Hold) company have gained 1.9% compared with the industry's increase of 8.8%.
The Zacks Consensus Estimate for SBAC’s 2025 FFO per share has moved 3 cents northward to $12.74 over the past two months.
The Zacks Consensus Estimate for OHI’s 2025 FFO per share has moved a cent northward to $3.03 over the past week.
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.
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Four Corners Acquires LongHorn Steakhouse Property for $2.5M
Key Takeaways
Four Corners Property Trust (FCPT - Free Report) recently announced the acquisition of LongHorn Steakhouse property for $2.5 million. This acquisition highlights the company’s expansionary and diversification efforts, which will aid future revenue growth.
The property is located in a highly trafficked corridor in Michigan. Priced at a 6.5% cap rate on rent as of the closing date, exclusive of transaction costs, the property is corporate-operated under a long-term triple-net lease.
FCPT: In a Snapshot
This real estate investment trust (REIT), mainly engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has a track record of acquisitions.
On June 24, 2025, FCPT announced the acquisition of the four Cheddar's Scratch Kitchen properties for $14.7 million.
The above purchases fall in line with FCPT’s strategy of structuring a portfolio that will withstand varied economic cycles. However, the company’s expansion may face potential headwinds in an elevated interest-rate environment, which could keep its borrowing costs high.
In the past six months, shares of this Zacks Rank #3 (Hold) company have gained 1.9% compared with the industry's increase of 8.8%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are SBA Communications (SBAC - Free Report) and Omega Healthcare Investors (OHI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for SBAC’s 2025 FFO per share has moved 3 cents northward to $12.74 over the past two months.
The Zacks Consensus Estimate for OHI’s 2025 FFO per share has moved a cent northward to $3.03 over the past week.
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.