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Four Corners Property Trust Inc (FCPT)


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Upturn Advisory Summary
10/15/2025: FCPT (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $29.12
1 Year Target Price $29.12
3 | Strong Buy |
1 | Buy |
5 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -8.39% | Avg. Invested days 34 | Today’s Advisory PASS |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.54B USD | Price to earnings Ratio 22.49 | 1Y Target Price 29.12 |
Price to earnings Ratio 22.49 | 1Y Target Price 29.12 | ||
Volume (30-day avg) 9 | Beta 0.88 | 52 Weeks Range 23.64 - 28.63 | Updated Date 10/17/2025 |
52 Weeks Range 23.64 - 28.63 | Updated Date 10/17/2025 | ||
Dividends yield (FY) 5.79% | Basic EPS (TTM) 1.08 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 37.87% | Operating Margin (TTM) 56.33% |
Management Effectiveness
Return on Assets (TTM) 3.71% | Return on Equity (TTM) 7.72% |
Valuation
Trailing PE 22.49 | Forward PE 20.2 | Enterprise Value 3747119997 | Price to Sales(TTM) 9.08 |
Enterprise Value 3747119997 | Price to Sales(TTM) 9.08 | ||
Enterprise Value to Revenue 13.41 | Enterprise Value to EBITDA 17.55 | Shares Outstanding 104464312 | Shares Floating 103186713 |
Shares Outstanding 104464312 | Shares Floating 103186713 | ||
Percent Insiders 1.34 | Percent Institutions 107.23 |
Upturn AI SWOT
Four Corners Property Trust Inc

Company Overview
History and Background
Four Corners Property Trust, Inc. (FCPT) was formed in 2015 as a spin-off from Darden Restaurants. It focuses on acquiring, owning, and leasing properties net-leased to premier restaurant and retail brands.
Core Business Areas
- Net Lease Real Estate: Acquiring and owning properties net-leased to restaurant and retail tenants. This involves property acquisition, tenant management, and lease administration.
Leadership and Structure
The leadership team includes William H. Lenehan as CEO. The organizational structure is typical of a REIT, with departments focused on acquisitions, asset management, finance, and legal.
Top Products and Market Share
Key Offerings
- Net-Leased Properties: FCPT's primary offering is the ownership and management of net-leased properties, predominantly restaurants. Revenue comes from rental income. Market share data is difficult to isolate, but FCPT competes within the broader net-lease REIT market. Competitors include Realty Income (O), National Retail Properties (NNN) and STORE Capital (STOR). FCPT focuses on specific industries (restaurant and retail) for properties with long-term leases.
Market Dynamics
Industry Overview
The net-lease REIT industry involves owning properties and leasing them to tenants under long-term net leases, where the tenant pays property taxes, insurance, and maintenance. The market is sensitive to interest rates and economic conditions.
Positioning
FCPT is positioned as a specialist in restaurant-related net-lease properties. Its competitive advantage lies in its focus on this niche, giving it deep industry expertise and strong relationships with restaurant brands.
Total Addressable Market (TAM)
The TAM for net lease REITs is in the hundreds of billions of dollars. FCPT is positioned to capture a portion of this market by focusing on restaurant and retail properties, giving it a niche market within a much larger TAM.
Upturn SWOT Analysis
Strengths
- Focused expertise in restaurant and retail net-lease properties
- Long-term net leases providing stable cash flow
- Strong relationships with leading restaurant brands
- Diversified geographic portfolio
Weaknesses
- Concentration in the restaurant sector, increasing sensitivity to restaurant industry downturns
- Reliance on a limited number of key tenants
- Sensitivity to interest rate fluctuations
Opportunities
- Acquiring additional net-lease properties to expand the portfolio
- Capitalizing on sale-leaseback transactions with restaurant companies
- Diversifying into other retail sectors
Threats
- Economic downturn impacting the restaurant industry
- Rising interest rates increasing borrowing costs
- Tenant bankruptcies or lease defaults
- Increased competition from other net-lease REITs
Competitors and Market Share
Key Competitors
- O
- NNN
- ADC
- STOR
Competitive Landscape
FCPT's advantages include its focus on the restaurant sector. Disadvantages include its smaller size compared to larger, more diversified net-lease REITs.
Major Acquisitions
NECX Portfolio
- Year: 2023
- Acquisition Price (USD millions): 73
- Strategic Rationale: Acquired 19 high-quality net lease properties. Strengthens and diversifies the portfolio.
Growth Trajectory and Initiatives
Historical Growth: FCPT's growth has been driven by acquisitions of net-lease properties.
Future Projections: Future growth depends on FCPT's ability to acquire properties and maintain strong occupancy rates. Analyst estimates are available from financial news providers.
Recent Initiatives: Recent initiatives include strategic property acquisitions to diversify and grow the portfolio.
Summary
Four Corners Property Trust is a REIT that specializes in net-lease properties focused on restaurants, giving them a focused market. They are smaller relative to other REITs and are concentrated in the restaurant business, which can be a threat. Their specialized business focus allows them to have long-term net leases, giving them a steady stream of revenue. The company continues to expand and diversify through property acquisitions. Rising interest rates could increase borrowing costs, which is something they need to look out for.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC Filings
- Company Investor Relations
- Financial News Providers
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market share percentages are estimates and based on available industry data.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Four Corners Property Trust Inc
Exchange NYSE | Headquaters Mill Valley, CA, United States | ||
IPO Launch date 2015-11-10 | President, CEO & Director Mr. William Howard Lenehan IV | ||
Sector Real Estate | Industry REIT - Retail | Full time employees 536 | Website https://www.fcpt.com |
Full time employees 536 | Website https://www.fcpt.com |
FCPT 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.

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