Insider Buying: Four Corners Property Trust (NYSE:FCPT) CEO Acquires $99,936.03 in Stock

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan bought 3,961 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the acquisition, the chief executive officer owned 775,696 shares of the company’s stock, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Four Corners Property Trust Stock Down 1.1%

Four Corners Property Trust stock opened at $25.18 on Friday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 22.49 and a beta of 0.83. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $28.11. The business’s 50-day moving average price is $24.98 and its 200 day moving average price is $24.39. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The company had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. As a group, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.75 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

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

Institutional Trading of Four Corners Property Trust

A number of institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Four Corners Property Trust by 80.1% during 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 in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Four Corners Property Trust by 829.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after buying an additional 995 shares in the last quarter. First Horizon Corp lifted its stake in shares of Four Corners Property Trust by 147.4% in the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock worth $27,000 after buying an additional 709 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Four Corners Property Trust during the fourth quarter worth about $36,000. Finally, Huntington National Bank boosted its position in Four Corners Property Trust by 114.1% during the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 836 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on FCPT. Barclays raised their price objective on Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Raymond James Financial dropped their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a report on Wednesday, April 8th. BMO Capital Markets began coverage on Four Corners Property Trust in a report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective on the stock. Finally, Citizens Jmp raised 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. Three 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, the stock has an average rating of “Hold” and a consensus target price of $28.00.

Four Corners Property Trust Company Profile

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.