Chuy's Holdings, Inc. Price & Performance (CHUY)

Four Corners Property Trust has acquired a Chuy's restaurant property in Texas for $2.9 million. The deal, completed at a 6.7% cap rate, features a triple net lease with five years remaining. This move aligns with FCPT’s ongoing strategy to add stable, income-generating assets to its holdings.12

Chuy’s has moved its Dallas location from McKinney Avenue, its home for 32 years, to Greenville Avenue. The former site will soon be demolished for a new office tower. Notably, the restaurant will bring its iconic “Tango Frogs” statues from Nashville to the new location later this month.34

Darden Restaurants’ acquisition of Chuy’s Tex-Mex chain is contributing to its positive outlook. Despite slightly weaker Q3 earnings, Darden reaffirmed strong annual guidance and plans to open 50-55 new locations this year. The Chuy’s integration and LongHorn Steakhouse’s growth are boosting investor confidence.56