Four Corners Property Trust (NYSE:FCPT) Issues Quarterly Earnings Results

Four Corners Property Trust (NYSE:FCPT) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14), Zacks reports. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $73.34 million. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis.

Four Corners Property Trust Stock Down 0.7%

FCPT opened at $25.40 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. Four Corners Property Trust has a one year low of $22.78 and a one year high of $28.35. The business’s 50-day simple moving average is $24.98 and its 200-day simple moving average is $24.37. The stock has a market capitalization of $2.79 billion, a P/E ratio of 22.68 and a beta of 0.83.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.3665 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.47 annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 131.25%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FCPT. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They set a “market perform” rating and a $27.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Raymond James Financial lowered their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a report on Wednesday, March 25th. Finally, Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust has an average rating of “Hold” and an average price target of $28.00.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 7,865 shares of the business’s stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $25.49 per share, with a total value of $200,478.85. Following the completion of the acquisition, the chief executive officer directly owned 765,845 shares of the company’s stock, valued at approximately $19,521,389.05. The trade was a 1.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

Several hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Four Corners Property Trust during the fourth quarter valued at $36,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Four Corners Property Trust by 136.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,570 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Four Corners Property Trust by 31.0% during the second quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 883 shares during the last quarter. Finally, McMillan Office Inc. bought a new position in shares of Four Corners Property Trust during the fourth quarter worth about $104,000. Institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.