FCPT Expands Portfolio with $26M Acquisition of 14 Auto Service Properties
FCPT is trading near its 52-week low of $22.78 (8.4% above the low).
Summary
Four Corners Property Trust announced the acquisition of 14 Sun Auto Tire & Service properties for $26 million. This transaction follows the company's recent agreement to acquire up to 102 veterinary properties for $268 million and securing a $200 million term loan facility in April. The acquisition expands FCPT's portfolio of triple-net leased properties, demonstrating continued execution of its growth strategy and deployment of capital.
At the time of this announcement, FCPT was trading at $24.70 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $22.78 to $28.11. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.