• Four Corners Property Trust recently expanded its portfolio by acquiring several corporate-operated, long-term net lease properties, including a Sprouts Farmers Market in Tennessee for US$8.6 million and multiple Buffalo Wild Wings and United Rentals sites across New Mexico, Alabama, and Kentucky at cap rates in line with prior deals.
• These 2025 acquisitions, which contributed to a total of about US$318 million invested across 105 properties, underline FCPT’s push to diversify beyond restaurants into e‑commerce‑resistant retail and service tenants in high-traffic corridors, aiming to reinforce stable, long-term rental income.
• We’ll now examine how FCPT’s stepped-up diversification into e-commerce-resistant retail and service properties may influence its existing investment narrative.

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Four Corners Property Trust Investment Narrative Recap

To own Four Corners Property Trust, you need to believe in a conservative, income-first net lease model anchored by long-term, e commerce resistant tenants. The latest Sprouts, Buffalo Wild Wings, and United Rentals acquisitions modestly support the key near term catalyst of portfolio diversification, while the biggest risk around sector concentration and modest rent escalators remains broadly unchanged.

The most relevant recent announcement is FCPT’s disclosure that about 60% of its 2025 acquisition volume was outside restaurants, within a US$318 million program. Together with the Sprouts and United Rentals deals, this incrementally reduces casual dining concentration, directly addressing the risk that shifting consumer behavior toward delivery and off premise consumption could pressure traditional dine in tenants over time.

Yet behind the appeal of long term, net lease income, investors should still be aware of how modest rent escalators could limit earnings resilience if...

Four Corners Property Trust's narrative projects $344.5 million revenue and $144.2 million earnings by 2028. This requires 7.2% yearly revenue growth and a $38.4 million earnings increase from $105.8 million today.

Uncover how Four Corners Property Trust's forecasts yield a $28.12 fair value, a 18% upside to its current price.

Exploring Other Perspectives

Four Simply Wall St Community members place fair value for FCPT between US$17.09 and US$46.02, highlighting wide dispersion in individual expectations. Against that backdrop, FCPT’s push into e commerce resistant tenants may matter more for long term income stability than short term share price moves, so you should weigh how each risk and catalyst could play out before forming a view.

Explore 4 other fair value estimates on Four Corners Property Trust - why the stock might be worth as much as 92% more than the current price!

Build Your Own Four Corners Property Trust Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Four Corners Property Trust research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Four Corners Property Trust research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Four Corners Property Trust's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.