Four Corners Property Trust (NYSE:FCPT) CEO Purchases $226,100.00 in Stock

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan purchased 10,000 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average cost of $22.61 per share, with a total value of $226,100.00. Following the acquisition, the chief executive officer directly owned 789,857 shares in the company, valued at $17,858,666.77. This trade represents a 1.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $23.71 on Thursday. The company has a market capitalization of $2.60 billion, a P/E ratio of 21.75 and a beta of 0.77. The business’s 50 day moving average is $22.76 and its two-hundred day moving average is $24.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.58. Four Corners Property Trust, Inc. has a 12-month low of $20.85 and a 12-month high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The business had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 earnings per share. Analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.1265 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.4%. Four Corners Property Trust’s dividend payout ratio (DPR) is 138.53%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays cut 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 report on Tuesday, October 20th. Royal Bank Of Canada set a $26.00 price objective on shares of Four Corners Property Trust in a report on Monday. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.45.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in FCPT. IFP Advisors Inc boosted its position in Four Corners Property Trust by 105.8% during the second quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 583 shares during the last quarter. Bessemer Group Inc. grew its stake in Four Corners Property Trust by 326.1% during the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,262 shares in the last quarter. Covestor Ltd grew its stake in Four Corners Property Trust by 40.0% during the 3rd quarter. Covestor Ltd now owns 1,799 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 514 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Four Corners Property Trust in the 2nd quarter valued at about $45,000. Finally, Nykredit A S acquired a new stake in Four Corners Property Trust in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

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.