Four Corners Property Trust: Aggressive Diversification Advances, Now Paying Monthly Dividends

Four Corners Property Trust remains a buy, driven by aggressive portfolio diversification and sustained investment activity. FCPT’s Q1 showed strong AFFO growth, 99.6% occupancy, and significant acquisitions, supporting a stable monthly dividend yield of ~5.55%. Macro headwinds from higher-for-longer interest rates pressure near-term expansion, but supply scarcity and tenant strength provide long-term upside. The conservative intrinsic value estimate stands at $28.19 per share, above the current price, reflecting attractive risk-reward despite sector and tenant concentration risks.