Four Corners Property Trust (NYSE:FCPT) Posts Earnings Results, Misses Estimates By $0.14 EPS

Four Corners Property Trust (NYSE:FCPT - Get Free Report) announced its earnings results on Wednesday. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14), Zacks reports. The firm had revenue of $78.17 million for the quarter, compared to the consensus estimate of $71.87 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.Four Corners Property Trust's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $25.37 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13. Four Corners Property Trust has a one year low of $22.78 and a one year high of $28.98. The business's 50-day moving average price is $24.97 and its two-hundred day moving average price is $24.35. The company has a market capitalization of $2.78 billion, a P/E ratio of 23.07 and a beta of 0.83.

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.3665 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.47 dividend on an annualized basis and a dividend yield of 5.8%. Four Corners Property Trust's dividend payout ratio is 132.73%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FCPT shares. Barclays upped their price objective on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 21st. Raymond James Financial cut their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating on the stock in a report on Tuesday, March 17th. Weiss Ratings restated a "hold (c)" rating on shares of Four Corners Property Trust in a research report on Wednesday, April 8th. Citizens Jmp raised shares of Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price objective for the company in a research note on Wednesday, March 25th. Finally, Citigroup reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Four Corners Property Trust currently has a consensus rating of "Hold" and a consensus price target of $28.00.

Insiders Place Their Bets

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 7,865 shares of the business's stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $25.49 per share, for a total transaction of $200,478.85. Following the acquisition, the chief executive officer owned 765,845 shares of the company's stock, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FCPT. Vanguard Personalized Indexing Management LLC boosted its position in shares of Four Corners Property Trust by 48.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 21,746 shares of the financial services provider's stock valued at $501,000 after acquiring an additional 7,066 shares during the period. Cerity Partners LLC increased its position in Four Corners Property Trust by 6.7% during the second quarter. Cerity Partners LLC now owns 16,568 shares of the financial services provider's stock worth $446,000 after acquiring an additional 1,041 shares during the period. Mercer Global Advisors Inc. ADV raised 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. Brooklyn Investment Group raised its stake in Four Corners Property Trust by 47.2% during the 3rd quarter. Brooklyn Investment Group now owns 16,758 shares of the financial services provider's stock valued at $409,000 after purchasing an additional 5,375 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Four Corners Property Trust by 17.0% in the 2nd quarter. Quantinno Capital Management LP now owns 15,090 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 2,197 shares during the period. 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.