Four Corners Property Trust (NYSE:FCPT) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Four Corners Property Trust (NYSE:FCPT) issued its earnings results on Wednesday. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03), Zacks reports. The business had revenue of $83.68 million during 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’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.45 EPS.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $21.98 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 12-month low of $20.85 and a 12-month high of $26.86. The stock has a 50-day moving average price of $23.00 and a 200 day moving average price of $24.49. The stock has a market capitalization of $2.41 billion, a P/E ratio of 19.80 and a beta of 0.80.

Four Corners Property Trust Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on FCPT. Huntington initiated coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price target for the company. Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Wells Fargo & Company dropped their target price on shares of Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. UBS Group restated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.70.

About Four Corners Property Trust

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.