FCPT Announces Acquisition of Three Christian Brothers Automotive Properties for $9.6 Million

10/31/24 6:23:00 PM ET

Real Estate Investment Trusts

Real Estate

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Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is pleased to announce the acquisition of three Christian Brothers Automotive properties for $9.6 million. Christian Brothers Automotive is an auto repair business with over 250 locations across 30 states, known for its customer-first approach and commitment to high-quality service. The properties are located in strong retail corridors in Alabama, Colorado, and Louisiana and are occupied under long term, triple net leases with a weighted average 12 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

Category: Acquisition

View source version on businesswire.com: https://www.businesswire.com/news/home/20241031723172/en/

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Recent Analyst Ratings for

$FCPT

Date	Price Target	Rating	Analyst
7/8/2024		Mkt Perform	JMP Securities
9/21/2023	$28.00	Overweight	Wells Fargo
11/21/2022	$28.00	Outperform → In-line	Evercore ISI
9/13/2022	$31.00	Outperform	Evercore ISI
8/2/2022	$31.00 → $30.00	Buy → Hold	Berenberg
8/1/2022	$30.00	Buy → Neutral	Janney
6/23/2022	$26.00	Neutral	Credit Suisse
10/28/2021	$30.00 → $32.00	Outperform	Raymond James

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FCPT Announces Acquisition of Three Christian Brothers Automotive Properties for $9.6 Million

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Recent Analyst Ratings for $FCPT

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Chief Financial Officer Wernig Patrick L. acquired 839 shares, increasing direct ownership by 0.71% to 118,387 units (SEC Form 4)

Chief Accounting Officer Stewart Niccole acquired 213 shares, increasing direct ownership by 0.60% to 35,688 units (SEC Form 4)

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