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

Four Corners Property Trust (NYSE:FCPT) released its quarterly earnings results on Wednesday. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.29 by $0.16, Zacks reports. The firm had revenue of $78.42 million during the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS.

Four Corners Property Trust Stock Down 3.7%

Shares of FCPT traded down $0.97 during mid-day trading on Thursday, hitting $25.36. 236,200 shares of the company traded hands, compared to its average volume of 819,106. Four Corners Property Trust has a 1-year low of $22.78 and a 1-year high of $26.86. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.78 billion, a PE ratio of 22.66 and a beta of 0.80. The business has a 50 day moving average of $25.14 and a 200 day moving average of $24.97.

Four Corners Property Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Four Corners Property Trust’s payout ratio is presently 131.25%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FCPT shares. UBS Group reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Barclays lowered their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. BMO Capital Markets assumed coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective on the stock. Weiss Ratings upgraded shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Huntington assumed coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

Insider Buying and Selling

In related news, CEO William H. Lenehan bought 3,961 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, with a total value of $99,936.03. Following the transaction, the chief executive officer owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its stake in Four Corners Property Trust by 41.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,409 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 5,374 shares during the last quarter. XTX Topco Ltd purchased a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $830,000. Zimmer Partners LP increased its holdings in 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 buying an additional 10,000 shares during the period. Voloridge Investment Management LLC raised its position in Four Corners Property Trust by 17.9% during the 4th quarter. Voloridge Investment Management LLC now owns 477,701 shares of the financial services provider’s stock worth $11,016,000 after buying an additional 72,636 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its position in 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 worth $3,564,000 after buying an additional 123,538 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

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.