Four Corners Property Trust (NYSE:FCPT) Posts Earnings Results, Beats Expectations By $0.16 EPS

Four Corners Property Trust (NYSE:FCPT) released its quarterly earnings data on Wednesday. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16, Zacks reports. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.

Four Corners Property Trust Trading Up 1.3%

NYSE:FCPT traded up $0.34 during trading hours on Wednesday, hitting $26.32. The company had a trading volume of 1,096,101 shares, compared to its average volume of 823,493. The company has a market capitalization of $2.89 billion, a PE ratio of 23.50 and a beta of 0.80. The stock has a 50-day moving average price of $25.11 and a 200 day moving average price of $24.95. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $26.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15.

Four Corners Property Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.6%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 131.25%.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan acquired 3,961 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following 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 available at this link. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in shares of Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Four Corners Property Trust in the fourth quarter worth about $36,000. CIBC Private Wealth Group LLC raised its stake in Four Corners Property Trust by 136.8% in the third quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,570 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Four Corners Property Trust by 31.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock worth $101,000 after buying an additional 883 shares during the period. Finally, McMillan Office Inc. purchased a new stake in Four Corners Property Trust in the fourth quarter worth about $104,000. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets started coverage on shares of Four Corners Property Trust in a report on Friday, April 17th. They set a “market perform” rating and a $27.00 price target for the company. UBS Group restated a “buy” rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Wells Fargo & Company increased their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Huntington began coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and an average target price of $27.78.

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.