Four Corners Property Trust (FCPT) Stock Overview
A real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 5/6 |
| Financial Health | 2/6 |
| Dividends | 6/6 |
FCPT Community Fair Values
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Analyst Price Targets
Four Corners Property Trust, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$25.17 |
| 52 Week High | US$28.11 |
| 52 Week Low | US$22.78 |
| Beta | 0.84 |
| 1 Month Change | 0.12% |
| 3 Month Change | -0.67% |
| 1 Year Change | -7.90% |
| 3 Year Change | -2.89% |
| 5 Year Change | -7.63% |
| Change since IPO | 41.80% |
Recent News & Updates
Narrative Update • Apr 25
FCPT: Recent Net Lease Acquisitions And Mixed Sentiment Will Shape Future Returns
Analysts have nudged the blended price target for Four Corners Property Trust slightly higher to about $28.11, with recent Street research citing revised assumptions for discount rates, modestly softer revenue growth and margins, and a somewhat higher future P/E, along with mixed target changes around $27 to $29. Analyst Commentary Recent research on Four Corners Property Trust reflects a mix of optimism and caution, with several firms adjusting price targets in a narrow band around the current blended estimate and offering different views on how execution and valuation line up.Narrative Update • Apr 11
FCPT: Recent Net Lease Acquisitions Will Support Future Cash Flow
Analysts have modestly adjusted their price targets on Four Corners Property Trust, with recent changes ranging between $27 and $29 as they factor in updated views on the net lease REIT group and upcoming quarterly results. Analyst Commentary Recent research highlights a mix of optimism and caution around Four Corners Property Trust, with several firms fine tuning ratings and price targets in a tight range between $27 and $29.Recent updates
Narrative Update • Apr 25
FCPT: Recent Net Lease Acquisitions And Mixed Sentiment Will Shape Future Returns
Analysts have nudged the blended price target for Four Corners Property Trust slightly higher to about $28.11, with recent Street research citing revised assumptions for discount rates, modestly softer revenue growth and margins, and a somewhat higher future P/E, along with mixed target changes around $27 to $29. Analyst Commentary Recent research on Four Corners Property Trust reflects a mix of optimism and caution, with several firms adjusting price targets in a narrow band around the current blended estimate and offering different views on how execution and valuation line up.Narrative Update • Apr 11
FCPT: Recent Net Lease Acquisitions Will Support Future Cash Flow
Analysts have modestly adjusted their price targets on Four Corners Property Trust, with recent changes ranging between $27 and $29 as they factor in updated views on the net lease REIT group and upcoming quarterly results. Analyst Commentary Recent research highlights a mix of optimism and caution around Four Corners Property Trust, with several firms fine tuning ratings and price targets in a tight range between $27 and $29.Narrative Update • Mar 28
FCPT: Net Lease Acquisitions Will Support Future Cash Flow Stability
Narrative Update on Four Corners Property Trust The analyst price target for Four Corners Property Trust has been updated from roughly $28.14 to $28.00. Analysts point to revised assumptions for discount rate, revenue growth, profit margin and future P/E as they react to recent Street research that includes both modest target raises and trims across covering firms.Seeking Alpha • Mar 20
Four Corners Property Trust: This REIT's Growth Story Advances Despite Macro Uncertainty
Summary Four Corners Property Trust remains a buy, supported by discounted valuation, solid growth, and a ~5.76% dividend yield. FCPT added 105 properties in 2025, funded acquisitions primarily through equity, and maintains what they call an "over-equitized" balance sheet with 4.9x leverage. Management plans to pivot toward debt financing in 2026, targeting continued acquisition activity as debt markets become more attractive. Risks and opportunities include lease maturity concentration (2027–2033), macroeconomic uncertainty and developments, and potential tenant weakness, but risk-reward remains favorable. Read the full article on Seeking AlphaNarrative Update • Mar 07
FCPT: Net Lease Acquisitions And Stable Assumptions Will Support Measured Future Returns
Analysts have adjusted their price target for Four Corners Property Trust to $28.14, reflecting a slightly lower discount rate and future P/E assumptions, while keeping revenue growth and profit margin expectations essentially unchanged. What's in the News Acquired an automotive service property in Indiana for US$2.1 million via sale leaseback, leased to a national operator under a long term, triple net lease, at a cap rate in line with prior transactions.Narrative Update • Feb 21
FCPT: Expanding Net Lease Acquisitions Will Support Returns Despite Sector Recalibration
Analysts have reduced their price target on Four Corners Property Trust to $25 from $27. They cite slightly adjusted assumptions around discount rates, revenue growth, profit margins, and future P/E expectations, while still noting generally healthy operating conditions across most REITs. Analyst Commentary Analysts see Four Corners Property Trust as operating in generally healthy conditions, but the lower price target to $25 signals some recalibration of expectations around risk, growth, and valuation.Narrative Update • Feb 07
FCPT: Net Lease Acquisitions And Dividend Increase Will Balance Cautious Sector Sentiment
Narrative Update Overview The analyst price target for Four Corners Property Trust has edged slightly higher to about $28.14 from roughly $28.13 as analysts factor in a modestly lower discount rate and steady assumptions on growth and margins, even as some have trimmed shorter term targets to around $25 following broadly healthy but cautious REIT earnings commentary. Analyst Commentary Recent research on Four Corners Property Trust reflects a mixed tone, with the headline move being a reduction in one target to US$25 from US$27, even as broader REIT commentary points to generally healthy conditions.Narrative Update • Jan 23
FCPT: Net Lease Acquisitions And Dividend Increase Will Support Future Cash Flows
Narrative Update on Four Corners Property Trust The analyst price target for Four Corners Property Trust has moved from US$27 to US$25, with analysts pointing to generally healthy Q3 2025 REIT operating conditions, alongside a slightly more cautious stance reflected in the revised valuation assumptions. Analyst Commentary Recent Street research reflects a mixed but generally balanced view on Four Corners Property Trust, with the revised US$25 price target framed against what analysts describe as broadly healthy Q3 2025 REIT operating conditions and ongoing macro and labor market concerns.Narrative Update • Jan 09
FCPT: Net Lease Acquisitions And Dividend Growth Will Support Future Cash Flows
Narrative Update The analyst price target for Four Corners Property Trust has been trimmed by $0.38 to $28.13. Analysts are adjusting their models to reflect recent net lease sector updates and Q3 earnings commentary, while maintaining a generally steady view on operating conditions.Narrative Update • Dec 16
FCPT: Diversified Net Lease Expansion Will Support Stable Cash Flows Ahead
Analysts have nudged their price target on Four Corners Property Trust slightly lower, reflecting modest model updates amid generally healthy REIT operating conditions that support a fair value estimate of $28.50 per share. Analyst Commentary Recent research updates on Four Corners Property Trust highlight a generally constructive view on fundamentals, tempered by near term valuation and growth considerations that led to modest downward revisions in price targets.Narrative Update • Dec 02
FCPT: Strong Credit Profile Will Drive Stability Despite Restaurant Headwinds
Analysts have modestly reduced their price target for Four Corners Property Trust from $28.75 to $28.50. They cite increased caution around sector profit margins and mixed outlooks across the REIT landscape.Narrative Update • Nov 18
FCPT: Strong Credit Profile Will Support Stability Amid Restaurant Sector Challenges
The analyst price target for Four Corners Property Trust was reduced slightly from $28.88 to $28.75. Analysts cited lowered revenue growth projections and ongoing industry headwinds as key factors in their updated models.Narrative Update • Nov 04
FCPT: Expanded Net Lease Portfolio Will Drive Resilient Rental Income Ahead
The analyst price target for Four Corners Property Trust has been lowered by $0.50 to $28.88 per share. Analysts cite a modest decrease in revenue growth projections and concerns surrounding ongoing restaurant sector weakness.Seeking Alpha • Feb 17
Four Corners Property: Slowing Growth, High Valuation And Concentration Risks Make It Hard To Recommend
Summary Despite high occupancy rates and a robust balance sheet, the company's AFFO growth has slowed, and it trades at a premium valuation. The company's heavy reliance on a single tenant and high concentration in the restaurant sector make it riskier than its peers. Given its current valuation and exposure risks, I recommend a "hold" rating for Four Corners, as better opportunities exist in the triple net lease retail space. Read the full article on Seeking AlphaSeeking Alpha • Nov 21
Four Corners Is Overvalued Relative To Peers
Summary Four Corners Property Trust is a well-managed restaurant REIT with strong historical growth, but its current valuation at 16X forward multiple seems driven by market extrapolation. The restaurant industry's tailwinds are turning into headwinds, potentially impacting FCPT's growth and rent collection, despite its robust tenant roster and conservative lease rates. FCPT's debt is well-managed, but rising interest rates could increase interest expenses, slightly dragging on AFFO/share in the coming years. Given the sector's challenges and FCPT's premium valuation, I recommend considering alternatives like Getty Realty, VICI Properties, and W. P. Carey for better forward returns. Read the full article on Seeking AlphaSeeking Alpha • Oct 03
Four Corners Property Trust Delivered Solid Results And Continues Robust Investment Activity
Summary FCPT has significantly reduced its tenant concentration from Darden Restaurants, which previously held a 51% share in FCPT's ABR as of March 2024. Q2 2024 results prove FCPT's quality, reflected in its 99.6% occupancy, reasonable WALT of 7.4 years, and solid credit metrics. FCPT has recently executed two additional investments, with one major deal accounting for half of its 2024 YTD investment activity. This strategic investment approach underscores FCPT's commitment to reducing risk and strengthening its overall portfolio stability. Read the full article on Seeking Alpha
New Narrative • Sep 09
Resilient Portfolio And Critical Acquisitions Set To Boost FCPT's Earnings And Revenue Growth
Resilient portfolio management with strong rent collections and occupancy rates likely to enhance revenue stability and growth prospects.Seeking Alpha • Jul 30
Four Corners Property Trust: Staying Bullish On This High Yielding Retail-Centric REIT
Summary Four Corners Property Trust's growth-by-acquisition strategy, geographic diversification, and balance through sector expansion position it for sustained growth, despite potential risks and headwinds. Four Corners Property Trust offers a dividend yield of 5.04% and has a portfolio of 1,137 properties across 149 brands in 47 states. Four Corners Property Trust outperforms its peers in valuation metrics and steady AFFO growth, making it an attractive income-driven investment option. Read the full article on Seeking AlphaSeeking Alpha • Jul 21
Four Corners Property Trust Continues To Diversify With Lower Investment Volume
Summary Four Corners Property Trust has made six acquisitions since the last review, diversifying away from its high tenant concentration. Top-tier business metrics include high occupancy rate, decent rent escalators, and solid WALT. With higher cap rates and higher stock price, FCPT's investment spreads are likely to improve. FCPT's investment volume has decreased, which should be on the shareholders' radar. I expect the valuation gap to occur between FCPT and its competitors, as they are not subject to FCPT's largest risk - high tenant exposure. Read the full article on Seeking AlphaSeeking Alpha • May 30
Four Corners Property Trust: Its Peers Have Better Value Proposition
Summary Four Corners Property Trust is a relatively small, triple-net lease REIT that targets service-oriented properties. I consider FCPT stock to be overvalued when compared to its competitors. FCPT's strengths are either comparable or even stronger across its peer group. On the other hand, there are some risk factors and weaknesses that only relate to FCPT (when compared to key market players). There are more attractive opportunities in the market - even within the same property sector. Read the full article on Seeking AlphaSeeking Alpha • Apr 17
Four Corners Property Trust: A Fortress Balance Sheet With Ample Growth Prospects
Summary Four Corners Property Trust has experienced a 10% stock decline in 2024, in line with the sector Vanguard Real Estate Index Fund ETF. The net lease REIT specializes in acquiring and leasing restaurant and food-related properties, with a high occupancy rate of 99.8%. More recently the company has diversified into auto service and medical retail which account for a combined 17% of annualized base rent. Leverage is very manageable, at 34% of enterprise value, with 97% of the debt fixed at about 4%, with limited near-term maturities. The market cap rate of about 6% is below private markets, providing both a growth opportunity and a risk should valuations converge. Read the full article on Seeking AlphaShareholder Returns
| FCPT | US Specialized REITs | US Market | |
|---|---|---|---|
| 7D | 0.4% | -0.3% | 2.2% |
| 1Y | -7.9% | 2.9% | 31.1% |
Return vs Industry: FCPT underperformed the US Specialized REITs industry which returned 2.9% over the past year.
Return vs Market: FCPT underperformed the US Market which returned 31.1% over the past year.
Price Volatility
| FCPT volatility | |
|---|---|
| FCPT Average Weekly Movement | 2.7% |
| Specialized REITs Industry Average Movement | 3.7% |
| Market Average Movement | 7.3% |
| 10% most volatile stocks in US Market | 16.1% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: FCPT has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: FCPT's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2015 | 496 | Bill Lenehan | www.fcpt.com |
Four Corners Property Trust, Inc. 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. Four Corners Property Trust, Inc is headquartered in Mill Valley, California.
Four Corners Property Trust, Inc. Fundamentals Summary
| FCPT fundamental statistics | |
|---|---|
| Market cap | US$2.77b |
| Earnings (TTM) | US$116.54m |
| Revenue (TTM) | US$300.82m |
23.7x
P/E Ratio9.2x
P/S RatioIs FCPT overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| FCPT income statement (TTM) | |
|---|---|
| Revenue | US$300.82m |
| Cost of Revenue | US$43.43m |
| Gross Profit | US$257.39m |
| Other Expenses | US$140.85m |
| Earnings | US$116.54m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.06 |
| Gross Margin | 85.56% |
| Net Profit Margin | 38.74% |
| Debt/Equity Ratio | 72.6% |
How did FCPT perform over the long term?
See historical performance and comparisonDividends
5.8%
Current Dividend Yield83%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/11 15:30 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Four Corners Property Trust, Inc. is covered by 15 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Wesley Golladay | Baird |
| Richard Hightower | Barclays |
| Nathan Crossett | Berenberg |