|Bid||25.50 x 800|
|Ask||30.25 x 900|
|Day's Range||28.55 - 28.95|
|52 Week Range||21.59 - 30.42|
|Beta (5Y Monthly)||0.89|
|PE Ratio (TTM)||26.50|
|Forward Dividend & Yield||1.27 (4.41%)|
|Ex-Dividend Date||Mar 30, 2021|
|1y Target Est||N/A|
Real estate investment trust Four Corners Property Trust (FCPT) has acquired a corporate WellNow Urgent Care facility for a consideration of $2.3 million. FCPT primarily engages in restaurant properties and the newly acquired urgent care facility is located in a strong retail corridor in New York. On May 17, FCPT announced the acquisition of Pathway Vet Alliance for $1.8 million. The Pathway facility is located at a retail corridor with high traffic in Utah. Excluding transaction costs, this acquisition was completed at a 6.7% capitalization rate. (See Four Corners Property Trust stock analysis on TipRanks) Last month, Raymond James analyst RJ Milligan reiterated a Buy rating on the stock with a price target of $34 (22.5% upside potential). Milligan commented, “Looking forward, we expect management will adhere to its prudent capital allocation strategy and continue to source creative opportunities that are either off-market or provide more attractive risk-adjusted returns.” Based on 3 unanimous Buys, consensus among analysts is that FCPT is a Strong Buy. The average analyst price target of $32.33 implies 16.5% upside potential. Shares have gained about 25% over the past year. Related News: Nutanix Posts Smaller-Than-Feared Quarterly Loss, Revenue Beats Estimates Medtronic Posts a Blowout Quarter as Revenue Outperforms, Bumps up Dividend Sanofi and GSK Commence Phase 3 Study of COVID-19 Vaccine Candidate More recent articles from Smarter Analyst: Bentley Systems Declares Quarterly Dividend American Financial Announces Special Dividend of $14 Arthur J. Gallagher Snaps up LDJ American Online Benefits Group DocuSign Agrees to Acquire IP Rights and Team of Clause; Street Says Buy
President Joe Biden said today that April's lower-than-expected job growth reveals that the U.S. economy is still struggling to recover from the pandemic, CNBC reports, and that his massive infrastructure and family support bills are needed now more than ever. The Millionacres takeaway: Biden rejected the idea that federal unemployment benefits are removing incentives for people to return to the labor force. Others disagree: The governors of Montana and South Carolina are moving to end federal pandemic unemployment benefits in their states.
You may not have heard of Four Corners Property Trust (NYSE: FCPT), but you may well have dined at one of its properties. This Mill Valley, California-based real estate investment trust (REIT) is the landlord for 810 locations of brand names like Arby’s, owned by Wendy's (NASDAQ: WEN); Chili’s, owned by Brinker International (NYSE: EAT); Olive Garden and Longhorn Steakhouse, both owned by Darden Restaurant Group (NYSE: DRI); Burger King, owned by Restaurant Brands International (NYSE: QSR); Buffalo Wild Wings; and Taco Bell and KFC, both owned by Yum!