Four Corners Property Trust (NYSE:FCPT) Posts Earnings Results, Beats Estimates By $0.17 EPS

Four Corners Property Trust (NYSE:FCPT) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.17, Zacks reports. The firm had revenue of $83.68 million for the quarter, compared to analysts’ expectations of $82.44 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.

Four Corners Property Trust Price Performance

NYSE FCPT traded down $0.18 during trading hours on Wednesday, reaching $21.98. The company’s stock had a trading volume of 1,092,125 shares, compared to its average volume of 879,487. The firm’s 50-day moving average price is $23.06 and its 200-day moving average price is $24.50. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 1 year low of $20.85 and a 1 year high of $26.86. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 19.80 and a beta of 0.80.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $0.1265 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 dividend on an annualized basis and a yield of 6.9%. Four Corners Property Trust’s payout ratio is currently 132.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Citizens Jmp reiterated a “market outperform” rating and issued a $28.00 price target on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Barclays dropped their price target on shares of Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, Huntington assumed coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Four Corners Property Trust currently has an average rating of “Hold” and a consensus target price of $26.91.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.