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Four Corners Property Trust, Inc. (NYSE: FCPT), which spun off from Darden Restaurants Inc.  in November 2015, sees significant external growth potential in the fragmented restaurant real estate sector, according to CEO Bill Lenehan.

At the time of the spinoff, the triple-net lease REIT’s portfolio included 300 Olive Garden restaurants, 104 LongHorn Steakhouse restaurants, 11 Bahama Breeze restaurants, two Seasons 52 restaurants and one Wildfish Seafood Grille restaurant.

Equity REITs and other publicly traded real estate companies were officially elevated to a new Real Estate Sector in the Global Industry Classification Standard (GICS), after the close of trading Sept. 16.

S&P Dow Jones Indices implemented the changes to coincide with their annual rebalance.

Equity REITs and other publicly traded real estate companies were moved out from the Financials Sector and into a standalone 11^th sector. Mortgage REITs remain in the Financials Sector.

Farmland Partners Inc. (NYSE: FPI) said Sept. 12 that it will acquire American Farmland Co. (NYSE: AFCO) in a stock-for-stock deal.

Farmland Partners’ Paul Pittman will continue as chairman and CEO of the new company, which will own more than $850 million of U.S. farmland assets spanning 133,000 acres.