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

Key Points

• Four Corners Property Trust reported quarterly earnings of $0.44 EPS, matching analysts' expectations, with a net margin of 37.57% and return on equity of 7.46%.
• The company announced a quarterly dividend of $0.355 with a 5.37% yield, although it has a high payout ratio of 132.71%.
• Stock analysts have a consensus rating of "Moderate Buy" with an average price target of $29.40, with recent price targets adjusted by major firms like Wells Fargo and UBS Group.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02, Zacks reports. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. During the same period in the previous year, the company earned $0.43 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year.

Four Corners Property Trust Stock Performance

Shares of NYSE:FCPT traded up $0.29 on Tuesday, reaching $26.43. 570,825 shares of the company's stock were exchanged, compared to its average volume of 709,375. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 24.70 and a beta of 0.84. Four Corners Property Trust has a twelve month low of $25.00 and a twelve month high of $30.93. The company has a fifty day moving average of $27.09 and a 200-day moving average of $27.60.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.37%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is currently 132.71%.

Analysts Set New Price Targets

A number of research firms have recently commented on FCPT. Wells Fargo & Company dropped their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. UBS Group decreased their price target on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Insider Buying and Selling

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.42, for a total transaction of $210,229.14. Following the completion of the sale, the director owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FCPT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Four Corners Property Trust by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider's stock valued at $1,648,000 after acquiring an additional 2,508 shares during the last quarter. AQR Capital Management LLC grew its stake in Four Corners Property Trust by 20.3% in the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider's stock valued at $984,000 after purchasing an additional 5,786 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Four Corners Property Trust by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider's stock valued at $19,569,000 after purchasing an additional 79,023 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Four Corners Property Trust in the first quarter valued at about $2,627,000. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.