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The Acquirers Podcast

Activism, REITs, capital allocation and Four Corners Property Trust with Bill Lenehan | S06 E46

Dec 16, 2024
Bill Lenehan, CEO of Four Corners Property Trust, discusses the unique landscape of REITs, highlighting how capital allocation and shareholder value drive success. He shares insights on navigating investment strategies during COVID-19, emphasizing patience and disciplined judgment. Lenehan also explores balancing innovation in business models with user acceptance, diversifying investments effectively, and improving investor relations. The conversation delves into the role of stock buybacks in market perception and the importance of transparency in communication with investors.
01:03:39

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Four Corners Property Trust emphasizes disciplined capital allocation strategies to effectively manage investments and protect shareholder value during market fluctuations.
  • The company's adaptable acquisition strategy focuses on a diverse portfolio and effective tenant management, contributing to a high rent collection rate even during economic downturns.

Deep dives

Role of Four Corners Property Trust

Four Corners Property Trust operates as a real estate investment trust (REIT), managing approximately 1,200 properties, including a significant number of restaurant locations such as Olive Garden. The company focuses on acquiring small to mid-sized buildings, generally valued between $2 and $10 million. Its business strategy is highly adaptable, allowing it to purchase properties frequently or to pause acquisitions depending on market conditions. The emphasis is on managing a portfolio that generates consistent income while minimizing operational obligations related to properties.

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