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

Four Corners Property Trust (NYSE:FCPT) released its quarterly earnings results on Wednesday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02, Zacks reports. The firm had revenue of $75.67 million for the quarter, compared to the consensus estimate of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS.

Four Corners Property Trust Stock Performance

Shares of FCPT traded down $0.77 during trading hours on Thursday, hitting $24.48. The company had a trading volume of 112,659 shares, compared to its average volume of 837,828. The business has a fifty day moving average of $23.94 and a 200-day moving average of $24.49. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 22.52 and a beta of 0.83. Four Corners Property Trust has a 12 month low of $22.78 and a 12 month high of $29.81.

Analyst Ratings Changes

FCPT has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Barclays decreased their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Finally, Evercore cut their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in 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 acquiring an additional 463 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Four Corners Property Trust by 136.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,570 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Four Corners Property Trust by 31.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 883 shares during the period. McMillan Office Inc. acquired a new position in Four Corners Property Trust in the 4th quarter valued at $104,000. Finally, Evergreen Capital Management LLC bought a new position in Four Corners Property Trust during the 2nd quarter worth $214,000. 98.66% of the stock is owned by institutional investors.

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.