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Stock impact report

Fill Your Belly And Your Wallet? This High-Yield REIT Just Picked Up More Of A Popular Restaurant Chain [Yahoo! Finance]

Bloomin' Brands, Inc. (BLMN) 
Last bloomin' brands, inc. earnings: 2/18 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
If you've ever eaten at Olive Garden, Outback Steakhouse or Chili's, you may have been benefitting Four Corners Property Trust (FCPT), a real estate investment trust (REIT) that specializes in owning and leasing both retail and restaurant properties. The numbers for restaurant growth are impressive. While inflation has weighed on consumers, one study showed that Americans eat out at least four times a week and spend over $3,000 on dining out each year. FCPT recently acquired 19 Bloomin' Brands (NASDAQ: BLMN ) restaurant properties for $66.4 million. The 19 properties are located across 10 states and are under long-term leases. The transaction makes Bloomin' Brands FCPT's third largest tenant, responsible for 3.3% of its cash rent. "We're particularly glad to see another large public company operator rise to our #3 tenant behind Darden and Brinker as this transaction furthers our diversification efforts while maintaining the strength of our portfolio," said Bill Lenehan, FCPT's CEO. Show less Read more
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