Four Corners Property Trust (NYSE:FCPT) CEO William Lenehan Purchases 10,000 Shares of Stock

Key Points

• CEO William Lenehan bought 10,000 FCPT shares at an average price of $22.61, investing $226,100 and increasing his stake by 1.28% to 789,857 shares.
• FCPT reported quarterly revenue of $83.68 million, up 12.9% year over year, but earnings of $0.26 per share missed analysts’ $0.29 estimate.
• The REIT declared a monthly dividend of $0.1265 per share, equivalent to $1.52 annually and a 6.5% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $26.45.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) CEO William Lenehan acquired 10,000 shares of Four Corners Property Trust stock in a transaction on Monday, November 2nd. The stock was purchased at an average price of $22.61 per share, with a total value of $226,100.00. Following the purchase, the chief executive officer owned 789,857 shares of the company's stock, valued at $17,858,666.77. The trade was a 1.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Four Corners Property Trust Stock Performance

Shares of FCPT traded up $0.77 during mid-day trading on Monday, reaching $23.24. 1,408,778 shares of the company's stock were exchanged, compared to its average volume of 886,687. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $2.55 billion, a PE ratio of 21.32 and a beta of 0.80. The business's fifty day simple moving average is $22.88 and its 200-day simple moving average is $24.48. Four Corners Property Trust, Inc. has a 52-week low of $20.85 and a 52-week high of $26.86.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.03). Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The business had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. During the same period in the previous year, the firm earned $0.45 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 6.5%. Four Corners Property Trust's payout ratio is currently 138.53%.

Institutional Trading of Four Corners Property Trust

Several hedge funds have recently made changes to their positions in FCPT. Deutsche Bank AG purchased a new stake in Four Corners Property Trust in the 2nd quarter valued at about $15,215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Four Corners Property Trust by 15,777.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 653,820 shares of the financial services provider's stock valued at $16,051,000 after acquiring an additional 649,702 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $2,061,000. Jupiter Topco LLC purchased a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $1,112,000. Finally, Corient Private Wealth LP purchased a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $2,584,000. Institutional investors and hedge funds own 98.66% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FCPT. JPMorgan Chase & Co. decreased their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, October 6th. Weiss Ratings cut Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada set a $26.00 price objective on Four Corners Property Trust in a research note on Monday. Huntington assumed coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 price objective for the company. Finally, Barclays lowered their target price on Four Corners Property Trust from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $26.45.

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.

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