Insider Buying: Four Corners Property Trust (NYSE:FCPT) CEO Buys 7,865 Shares of Stock

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan purchased 7,865 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $25.49 per share, with a total value of $200,478.85. Following the completion of the transaction, the chief executive officer owned 765,845 shares in the company, valued at $19,521,389.05. This trade represents a 1.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Four Corners Property Trust Stock Up 0.6%

NYSE:FCPT traded up $0.16 during mid-day trading on Friday, hitting $25.66. The company had a trading volume of 669,447 shares, compared to its average volume of 893,056. The business has a fifty day simple moving average of $24.57 and a 200-day simple moving average of $24.45. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $29.81. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 23.33 and a beta of 0.82.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The company had revenue of $75.67 million during the quarter, compared to the consensus estimate of $76.04 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.3665 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.47 dividend on an annualized basis and a dividend yield of 5.7%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 133.64%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds have recently bought and sold shares of FCPT. Mercer Global Advisors Inc. ADV increased its holdings in Four Corners Property Trust by 41.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,409 shares of the financial services provider’s stock valued at $425,000 after buying an additional 5,374 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Four Corners Property Trust in the 4th quarter worth approximately $830,000. Zimmer Partners LP grew its position in shares of Four Corners Property Trust by 5.7% in the 4th quarter. Zimmer Partners LP now owns 185,092 shares of the financial services provider’s stock worth $4,268,000 after acquiring an additional 10,000 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Four Corners Property Trust by 17.9% in the 4th quarter. Voloridge Investment Management LLC now owns 477,701 shares of the financial services provider’s stock valued at $11,016,000 after acquiring an additional 72,636 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of Four Corners Property Trust by 398.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 154,539 shares of the financial services provider’s stock valued at $3,564,000 after acquiring an additional 123,538 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

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.