Insider Buying: Four Corners Property Trust (NYSE:FCPT) CEO Acquires 3,961 Shares of Stock

Key Points

• CEO William Lenehan purchased 3,961 shares on May 5 at an average price of $25.23 (≈$99,936), raising his stake to 775,696 shares (a 0.51% increase) as disclosed in an SEC filing.
• Four Corners missed EPS expectations in the latest quarter (reported $0.28 vs. $0.42 est.) but posted revenue of $78.17M (up 9.4% YoY and above estimates), and the stock carries a consensus "Hold" rating with an average target of $28.00.
• The company pays a quarterly dividend of $0.3665 ($1.47 annualized) for a yield of 5.8%, though its dividend payout ratio is elevated at 131.25%; market cap is about $2.79B with a P/E of 22.7.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) CEO William Lenehan bought 3,961 shares of Four Corners Property Trust stock in a transaction dated Tuesday, May 5th. The shares were bought at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the acquisition, the chief executive officer owned 775,696 shares in the company, valued at $19,570,810.08. This represents a 0.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Four Corners Property Trust Price Performance

FCPT stock traded up $0.29 during midday trading on Wednesday, reaching $25.43. The company had a trading volume of 467,775 shares, compared to its average volume of 813,103. Four Corners Property Trust, Inc. has a 1-year low of $22.78 and a 1-year high of $28.14. The stock has a 50 day moving average price of $24.98 and a 200-day moving average price of $24.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 22.70 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts expect that Four Corners Property Trust, Inc. will post 1.75 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.3665 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.47 annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust's dividend payout ratio (DPR) is currently 131.25%.

Analyst Upgrades and Downgrades

Several research analysts have commented on FCPT shares. Weiss Ratings restated a "hold (c)" rating on shares of Four Corners Property Trust in a research report on Wednesday, April 8th. Raymond James Financial reduced their target price on 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. BMO Capital Markets began coverage on Four Corners Property Trust in a research note on Friday, April 17th. They issued a "market perform" rating and a $27.00 price target on the stock. Citizens Jmp upgraded 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 report on Wednesday, March 25th. Finally, Barclays raised their price objective on 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. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of "Hold" and an average price target of $28.00.

Institutional Trading of Four Corners Property Trust

A number of hedge funds have recently added to or reduced their stakes in FCPT. Bessemer Group Inc. lifted its stake in shares of Four Corners Property Trust by 326.1% in the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 1,262 shares during the last quarter. B&I Capital AG increased its holdings in Four Corners Property Trust by 12.3% in the 1st quarter. B&I Capital AG now owns 361,237 shares of the financial services provider's stock worth $8,543,000 after purchasing an additional 39,450 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Four Corners Property Trust by 13.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,419 shares of the financial services provider's stock valued at $927,000 after purchasing an additional 4,623 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Four Corners Property Trust by 23.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,790 shares of the financial services provider's stock valued at $1,769,000 after purchasing an additional 14,253 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its stake in shares of Four Corners Property Trust by 23.7% during the first quarter. Manning & Napier Advisors LLC now owns 399,486 shares of the financial services provider's stock valued at $9,448,000 after purchasing an additional 76,637 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

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.

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