FCPT

Real Estate

Four Corners Property Trust, Inc. · REIT - Retail · $3B

UQS Score — Balanced Preset
48.4
Below Average

Four Corners Property Trust, Inc. scores 48.4/100 using the Balanced preset.

UQS vs Real Estate Sector
FCPT
48.4
Sector avg
38.4
Quality
Strong
Moat
Weak
Growth
Weak
Risk
Weak
Valuation
Good

What is Four Corners Property Trust, Inc.?

Four Corners Property Trust is a real estate investment trust focused on owning and leasing restaurant properties across the United States. Headquartered in Mill Valley, CA, FCPT has built a portfolio centered on net-lease arrangements with restaurant and retail tenants.

FCPT acquires restaurant and retail properties and leases them back to operators under net-lease agreements, meaning tenants typically cover property taxes, insurance, and maintenance. This structure provides the company with relatively predictable rental income. The trust grows its portfolio through ongoing acquisitions, targeting properties occupied by established restaurant chains and select retail tenants.

FCPT was established in 2015 and is headquartered in Mill Valley, California.

  • Net-lease restaurant property ownership
  • Retail property acquisitions
  • Long-term triple-net tenant leases
  • Portfolio growth through targeted acquisitions

Is FCPT a Good Stock to Buy?

UQS Score rates FCPT as Below Average overall, reflecting meaningful weaknesses across several key pillars.

The Quality pillar stands out as FCPT's clearest strength — the net-lease model generates relatively stable, recurring income that scores well on a quality basis. Valuation lands at a Neutral reading, suggesting the stock is neither deeply discounted nor significantly stretched relative to fundamentals.

Moat, Growth, and Risk all register as Weak, pointing to limited competitive differentiation, constrained expansion prospects, and elevated risk factors that weigh on the overall composite score.

See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does FCPT pay dividends?

Yes — Four Corners Property Trust, Inc. pays a dividend.

FCPT pays a regular dividend, consistent with its REIT structure — REITs are required to distribute the majority of taxable income to shareholders. The net-lease model supports dividend continuity by generating predictable rental cash flows. Income-focused investors often consider FCPT for its distribution cadence, though the overall UQS profile warrants careful review alongside the yield.

When does FCPT report earnings?

Four Corners Property Trust reports earnings on a quarterly cadence, typical for US-listed REITs.

Results tend to reflect the stability of net-lease income, with portfolio size and occupancy rates driving top-line trends. Acquisition activity in any given quarter can meaningfully influence reported figures. Growth metrics have been modest relative to broader REIT peers.

For the most recent quarter's results, visit Four Corners Property Trust's investor relations page directly.

FCPT Price History

+18.6% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in Four Corners Property Trust, Inc.?

$
Today it would be worth
$11,422
That's a +14.2% total return, or +2.7% annualized.

Based on Four Corners Property Trust, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

FCPT Long-term Outlook

FCPT's Growth and Risk pillars both score as Weak, suggesting the fundamental outlook carries headwinds. Expansion of the portfolio depends on acquisition opportunities and financing conditions — both of which face pressure in a higher-rate environment. The Neutral Valuation reading indicates the market has largely priced in the current risk-reward profile, leaving limited margin for upside surprise without meaningful operational improvement.

Growth drivers

  • Continued net-lease property acquisitions in the restaurant sector
  • Stable rental income from long-term tenant agreements
  • Selective expansion into retail property categories

Key risks

  • Elevated interest rates increasing acquisition and refinancing costs
  • Concentration in the restaurant sector amplifying tenant credit risk
  • Weak moat limiting pricing power and competitive differentiation

FCPT vs Peers

FCPT operates in the net-lease and retail REIT space alongside several peers with distinct strategies.

AKRFCPT scores higher
Acadia Realty Trust

Acadia focuses on street-retail and urban corridor properties, giving it a different tenant mix and geographic concentration compared to FCPT's restaurant-centric portfolio.

CURBFCPT scores lower
Curbline Properties Corp.

Curbline targets convenience-oriented retail properties, emphasizing high-traffic suburban locations rather than the restaurant net-lease niche FCPT occupies.

IVTFCPT scores higher
InvenTrust Properties Corp.

InvenTrust concentrates on grocery-anchored open-air shopping centers in Sun Belt markets, offering broader retail diversification than FCPT's restaurant-focused approach.

Frequently Asked Questions

What does Four Corners Property Trust do?

Four Corners Property Trust is a REIT that acquires and leases restaurant and retail properties under net-lease agreements. Tenants — primarily restaurant operators — handle most property-level expenses, giving FCPT a relatively predictable income stream from its growing portfolio of locations across the US.

Does FCPT pay dividends?

Yes, FCPT pays a regular dividend. As a REIT, it is required to distribute the majority of its taxable income to shareholders. The net-lease structure supports consistent cash flows that underpin the distribution, though investors should review the full UQS Risk profile before relying on dividend sustainability.

When does FCPT report earnings?

FCPT reports on a quarterly cadence, as is standard for US-listed REITs. Specific dates vary each quarter. For confirmed upcoming earnings dates, check Four Corners Property Trust's official investor relations page.

Is FCPT a good stock to buy?

UQS Score rates FCPT as Below Average overall. While the Quality pillar is Strong and Valuation is Neutral, the Moat, Growth, and Risk pillars all score as Weak. That combination suggests meaningful caution is warranted. The complete pillar breakdown is available to UQS Pro members.

Is FCPT overvalued?

The UQS Valuation pillar for FCPT reads as Neutral, suggesting the stock is neither clearly cheap nor significantly overpriced relative to its fundamentals. Given the Weak Growth and Risk scores, a Neutral valuation still implies limited upside without operational improvement. Full valuation metrics are available in the Pro view.

How does FCPT compare to its competitors?

FCPT's restaurant net-lease focus sets it apart from peers like Acadia Realty, Curbline Properties, and InvenTrust, which pursue street retail, convenience retail, and grocery-anchored strategies respectively. Each carries a different risk and growth profile. UQS Pro members can view side-by-side pillar comparisons across these tickers.

What is FCPT's market cap bracket?

FCPT is classified as a mid-cap company. This places it in a range where liquidity is generally adequate for most retail investors, but the stock may receive less institutional coverage than large-cap REITs, which can affect price discovery and volatility.

Who founded Four Corners Property Trust?

Four Corners Property Trust was formed in 2015 as a spin-off from Darden Restaurants, which separated its real estate holdings into an independent REIT. Founding leadership and full corporate history are publicly available through the company's investor relations materials.

Is FCPT a long-term quality investment?

From a long-term quality standpoint, FCPT's Strong Quality pillar reflects the durability of its net-lease income model. However, Weak Moat and Weak Growth scores suggest limited compounding potential over time. Long-term investors should weigh the income stability against constrained growth prospects before committing capital.

What is the main competitive advantage of Four Corners Property Trust?

FCPT's primary advantage lies in its net-lease structure, which shifts most property-level costs to tenants and creates relatively stable, recurring income. However, the UQS Moat pillar scores as Weak, indicating this advantage may not be sufficiently durable or differentiated compared to broader REIT peers.

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Pro Analysis

FCPT — Score History

3540455055Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 24 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 23, 202648.480.632.027.634.163.80.0
May 22, 202648.480.632.027.634.164.0+4.9
May 9, 202643.580.532.04.334.162.5-3.2
May 7, 202646.780.832.026.131.257.50.0
May 3, 202646.780.832.026.131.257.60.0
May 2, 202646.780.832.026.131.257.5+0.1
Apr 26, 202646.680.832.025.931.257.0+0.1
Apr 25, 202646.580.832.025.931.256.3-0.1
Apr 23, 202646.681.232.025.931.256.30.0
Apr 21, 202646.680.832.025.931.256.7+0.1

FCPT — Pillar Breakdown

Quality

80.6/100 (25%)

Four Corners Property Trust, Inc. demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.

Return on EquityWeak

Profitability relative to shareholders' equity.

Operating ProfitabilityStrong

Ability to convert revenue into operating profit.

Net ProfitabilityStrong

Bottom-line profit as a share of revenue.

Cash GenerationStrong

Free cash flow relative to market value.

Growth

27.6/100 (20%)

Four Corners Property Trust, Inc. faces growth headwinds with declining or stagnant revenue trends.

Recent Revenue TrendWeak

Revenue trajectory over the last twelve months.

3Y Revenue CAGRWeak

Compound annual revenue growth rate over 3 years.

EPS GrowthWeak

Year-over-year earnings per share growth.

Forward Revenue OutlookWeak

Analyst consensus for future revenue growth.

Forward EPS GrowthWeak

Analyst consensus for future earnings growth.

Risk

34.1/100 (15%)

Four Corners Property Trust, Inc. presents elevated risk with concerns around leverage or financial stability.

Debt/EquityStrong

Total debt relative to shareholder equity.

Current RatioWeak

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageWeak

Earnings capacity relative to interest payments.

Valuation

63.8/100 (15%)

Four Corners Property Trust, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.

Earnings YieldModerate

Inverse of forward P/E — higher yield means cheaper stock.

Price to Free Cash FlowStrong

How many years of FCF the market cap represents.

PEG RatioModerate

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorModerate

Enterprise value multiple relative to sector median.

Moat

32/100 (25%)

Four Corners Property Trust, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for FCPT.

Score Composition

Quality
80.6×25%20.1
Growth
27.6×20%5.5
Risk
34.1×15%5.1
Valuation
63.8×15%9.6
Moat
32.0×25%8.0
Total
48.4Below Average

Financial Data

More Stock Analysis

How is the FCPT UQS Score Calculated?

The UQS (Unified Quality Score) for Four Corners Property Trust, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses Four Corners Property Trust, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether Four Corners Property Trust, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.