Bill Lenehan, CEO of Four Corners Property Trust, Inc. (NYSE: FCPT), sat down for a video interview during Nareit’s REITworld: 2024 Annual Conference in Las Vegas on Nov. 18-21.
Lenehan noted that the company was relatively inactive in early 2024 due to unfavorable capital costs but entered what he called the "Green Zone" by August and September, allowing for more profitable investments. With a strong capital raising effort underway, the company plans to be able to carry acquisitions momentum into 2025.
When meeting with investors, Lenehan noted that they raise concerns about credit issues affecting certain sectors, particularly pharmacies, experiential real estate, and stores like dollar stores and furniture retailers. However, he emphasized that Four Corners does not own properties in these troubled sectors, positioning the company advantageously to take advantage of opportunities while others are dealing with portfolio challenges.
Looking ahead to 2025, Lenehan focused on the importance of maintaining the momentum built in the latter part of 2024. He highlighted the company's expanded acquisitions team, strong stock performance, and robust pipeline of opportunities.