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

Key Points

• Four Corners Property Trust reported quarterly EPS of $0.45, beating analyst expectations of $0.29 by $0.16. The company posted a 38.74% net margin and 7.38% return on equity.
• FCPT shares rose to $26.32 during Wednesday trading, near their 52-week high of $26.86. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $27.78.
• The company announced a monthly dividend of $0.1222 per share, representing a 5.6% annualized yield, while institutional investors own 98.66% of outstanding shares.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.16, Zacks reports. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.

Four Corners Property Trust Price Performance

FCPT traded up $0.34 during midday trading on Wednesday, hitting $26.32. The stock had a trading volume of 1,096,101 shares, compared to its average volume of 823,493. The company has a market cap of $2.89 billion, a P/E ratio of 23.50 and a beta of 0.80. The business has a fifty day moving average of $25.11 and a 200 day moving average of $24.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. Four Corners Property Trust has a 1 year low of $22.78 and a 1 year high of $26.86.

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.1222 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.6%. Four Corners Property Trust's payout ratio is presently 131.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FCPT shares. Weiss Ratings raised shares of Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Citigroup reissued a "market outperform" rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a report on Friday, April 17th. They issued a "market perform" rating and a $27.00 price target on the stock. Barclays lowered their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. Finally, Huntington assumed coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $27.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of "Moderate Buy" and a consensus price target of $27.78.

Insider Activity at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 3,961 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $25.23 per share, with a total value of $99,936.03. Following the completion of the purchase, the chief executive officer owned 775,696 shares of the company's stock, valued at $19,570,810.08. The trade was a 0.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock worth $25,000 after purchasing an additional 463 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Four Corners Property Trust during the fourth quarter valued at about $36,000. CIBC Private Wealth Group LLC grew its stake in shares of Four Corners Property Trust by 136.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider's stock valued at $66,000 after buying an additional 1,570 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Four Corners Property Trust by 31.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider's stock worth $101,000 after buying an additional 883 shares during the period. Finally, McMillan Office Inc. purchased a new position in shares of Four Corners Property Trust in the fourth quarter worth about $104,000. Hedge funds and other institutional investors own 98.66% of the company's stock.

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.

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