Four Corners Property Trust (NYSE:FCPT) Releases Quarterly Earnings Results

Four Corners Property Trust (NYSE:FCPT) announced its earnings results on Wednesday. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14), Zacks reports. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business had revenue of $66.48 million for the quarter, compared to analysts’ expectations of $63.70 million. During the same quarter last year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis.

Four Corners Property Trust Stock Performance

NYSE:FCPT traded up $0.17 during mid-day trading on Friday, hitting $27.43. The company’s stock had a trading volume of 801,400 shares, compared to its average volume of 483,718. Four Corners Property Trust has a 1 year low of $20.51 and a 1 year high of $27.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.14. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 25.64 and a beta of 1.08. The business’s fifty day moving average is $25.29 and its two-hundred day moving average is $24.38.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Friday, June 28th. Four Corners Property Trust’s payout ratio is 128.97%.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 6,230 shares of the stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $24.05 per share, with a total value of $149,831.50. Following the completion of the acquisition, the chief executive officer now owns 620,394 shares in the company, valued at $14,920,475.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John S. Moody sold 7,230 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total value of $177,568.80. Following the transaction, the director now directly owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William H. Lenehan purchased 6,230 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the purchase, the chief executive officer now directly owns 620,394 shares in the company, valued at approximately $14,920,475.70. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, JMP Securities assumed coverage on Four Corners Property Trust in a report on Monday, July 8th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.33.

Four Corners Property Trust Company Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.