Four Corners Property Trust (NYSE:FCPT) Releases Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• Four Corners Property Trust beat quarterly expectations: EPS was $0.46 versus the $0.29 consensus, while revenue reached $83.68 million compared with estimates of $82.44 million.
• Shares fell 0.8% to $21.98 despite the earnings beat. The REIT declared a monthly dividend of $0.1265, equivalent to $1.52 annually and a 6.9% yield.
• Analysts maintain a mixed view, with five Buy and six Hold ratings; the average rating is Hold and the average price target is $26.91.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) released its earnings results on Wednesday. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.17, Zacks reports. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The firm had revenue of $83.68 million for the quarter, compared to the consensus estimate of $82.44 million.

Four Corners Property Trust Stock Down 0.8%

Shares of FCPT stock traded down $0.18 during mid-day trading on Wednesday, hitting $21.98. The company's stock had a trading volume of 1,092,125 shares, compared to its average volume of 879,487. Four Corners Property Trust has a 52-week low of $20.85 and a 52-week high of $26.86. The business has a 50-day moving average price of $23.06 and a 200 day moving average price of $24.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 19.80 and a beta of 0.80.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.1265 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 6.9%. Four Corners Property Trust's payout ratio is currently 132.43%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citizens Jmp reissued a "market outperform" rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Citigroup reaffirmed a "market outperform" rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Barclays lowered their target price 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. Finally, JPMorgan Chase & Co. dropped their price target on Four Corners Property Trust from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 6th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Four Corners Property Trust currently has an average rating of "Hold" and an average price target of $26.91.

Four Corners Property Trust Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.