Four Corners Property Trust (FCPT, Financial) has successfully expanded its portfolio through the acquisition of a Chuy’s property for $2.9 million. Chuy’s, a well-known casual dining restaurant chain specializing in Tex-Mex cuisine, was recently brought under the umbrella of Darden Restaurants. The property acquired is situated in a robust retail area in Texas and is operated corporately.
This acquisition comes under a triple net lease structure with five years remaining on the lease term. The deal has been struck at a cap rate of 6.7% on rent as of the closing date, excluding transaction expenses. This move aligns with Four Corners Property Trust’s strategy to invest in high-quality restaurant properties.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Four Corners Property Trust Inc (FCPT, Financial) is $30.29 with a high estimate of $33.00 and a low estimate of $28.00. The average target implies an upside of 6.90% from the current price of $28.33. More detailed estimate data can be found on the Four Corners Property Trust Inc (FCPT) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Four Corners Property Trust Inc's (FCPT, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Four Corners Property Trust Inc (FCPT, Financial) in one year is $28.86, suggesting a upside of 1.87% from the current price of $28.33. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Four Corners Property Trust Inc (FCPT) Summary page.
