Four Corners Property Trust Looking in New Directions

September 20, 2016 · reit.com
Four Corners Property Trust

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.

REITs Officially Elevated to 11th GICS Headline Sector

September 19, 2016 · reit.com
REITs and GICS

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 11th sector. Mortgage REITs remain in the Financials Sector.

Farmland Partners to Merge With American Farmland

September 12, 2016 · reit.com
Farmland Partners Inc.

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.