Four Corners Indulges in Another Acquisition to Boost Portfolio

Four Corners Property Trust FCPT announced the acquisition of nine American Family Care properties for $21.2 million. This is in addition to the buyout of a series of properties announced by FCPT in the current month. It amplifies its vision of structuring a diversified portfolio, which will help it generate steady revenues over the long run.American Family Care is a quality-driven healthcare provider that offers a bouquet of services, such as urgent care, family care and primary care, across its portfolio of 384 sites in 33 states.The acquired properties are corporate-operated and lie in the highly trafficked corridor in Alabama (seven) and Tennessee (two). They are secured under triple-net leases with a weighted average term of 14 years remaining.FCPT’s Past AcquisitionsOf late, this real estate investment trust (REIT), mainly engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has been on an acquisition spree.Recently, FCPT announced shelling out $13.5 million to purchase two Riverview Health properties through sale-leaseback. At the same time, FCPT announced two additional acquisitions — a MercyOne outpatient clinic property in Iowa for $2.8 million and a P.F. Chang’s bistro property in Illinois for $4.8 million.In mid-December, FCPT announced the buyout of a City Barbeque property for $2.6 million in a highly trafficked corridor in Georgia. The unit is a new development, corporate-operated with 11 years of term remaining. It also acquired a triple net leased, corporate-operated Panera Bread unit in Indiana for $2 million.Early in December, Four Corners announced the purchase of a corporate-operated, triple-net-leased NAPA Auto Parts property for $2.0 million in New York.With the above acquisitions, FCPT is attempting to establish itself as a one-stop solution for tenants' various requirements. However, the company’s expansions may face potential headwinds in a still high-interest-rate environment, which could keep its borrowing costs elevated.Over the past six months, shares of this Zacks Rank #4 (Sell) company have risen 10.6% compared with the industry's growth of 2.5%. However, analysts seem bearish on this stock, with the Zacks Consensus Estimate for its 2024 funds from operations (FFO) per share being lowered marginally over the past two months to $1.72.Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks to consider from the broader REIT sector are Crown Castle Inc. CCI and SL Green Realty SLG, 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 Crown Castle Inc.’s current-year FFO per share has moved northward marginally over the past two months to $7.00.The Zacks Consensus Estimate for SL Green Realty’s current-year FFO per share has been raised by 2.9% over the past month to $7.83.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.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Crown Castle Inc. (CCI): Free Stock Analysis Report SL Green Realty Corporation (SLG): Free Stock Analysis Report Four Corners Property Trust, Inc. (FCPT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks