Four Corners Property Trust, Inc. is a real estate investment trust (REIT) that focuses on owning, acquiring, and leasing restaurant and retail properties.
The company has two main segments: Real Estate Operations and Restaurant Operations.
The Real Estate Operations segment generates rental income from leasing restaurant properties under net leases, where tenants are responsible for property costs.
The Restaurant Operations segment, managed by a taxable REIT subsidiary, includes the Kerrow restaurant operations, which consist of seven LongHorn Steakhouse locations in San Antonio, Texas.
Four Corners Property Trust has a diverse portfolio of approximately 1,153 freestanding properties across 57 states, totaling 7.7 million square feet of rentable space.
The lease portfolio includes 1,176 leases with 154 different brands, demonstrating the company's extensive presence in the restaurant and retail sectors.