Four Corners Property Trust FCPT

Four Corners Property Trust Inc. is an American investment-grade rated real estate investment trust (REIT) which is engaged in the owning, acquisition, and leasing of properties throughout the United States, with a focus on property assets for use in the restaurant industry and other food-service related markets. As of December 2021, the trust owns more than 850 properties across 46 states. The firm was founded in 2015 and is headquartered in Mill Valley, California.

The firm operates through two distinct segments: a Real Estate Operations segment and a Restaurant Operations segments. The Real Estate Operations segment consists of the rental revenues that the company generates by leasing their restaurant premises and other properties. The Restaurant Operations segment comprises of the firm’s Kerrow Restaurant operating business, owned by Kerrow Holdings, which is a wholly owned taxable subsidiary of Four Corners Property Trust Inc. Kerrow is a franchisee of seven LongHorn Steakhouses in San Antonio, Texas.

Clients who the trust’s properties are leased to include Olive Garden (who occupy 45% of the firm’s rental units), Chili’s, and other restaurants. Around 8% of the company’s rental units are occupied by non-restaurant retail brands. Four Corners Property Trust Inc. is listed on the NYSE under the stock ticker FCPT.

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