In business it pays to focus, but if you focus too much, a lack of diversification can end up being a huge risk factor. Four Corners Realty Trust (NYSE: FCPT) is a case in point, thanks largely to the way it became a publicly traded company. However, it has been working on the issue and, slowly, moving in what is likely to be a much better direction for its portfolio.
The tortured play on words in that subhead is because Darden Restaurants (NYSE: DRE) had long found value in owning the restaurants it operated. But it ran into some financial troubles a while back, and activist investors started to get mouthy. One suggestion was to stop serving customers as many breadsticks (that's not a joke). Another was to spin off the properties it owned as a real estate investment trust (REIT) and for Darden to become a tenant. Which is exactly what happened in late 2015 (as for the breadsticks, ask for more and you'll likely still get them).
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For further details see:
This REIT Is (Slowly) Dealing With Its Biggest Problem