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

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

Four Corners Property Trust Stock Up 0.6 %

Shares of FCPT stock traded up $0.17 during trading hours on Friday, reaching $27.43. 801,400 shares of the stock were exchanged, compared to its average volume of 483,718. The business’s fifty day moving average is $25.29 and its two-hundred day moving average is $24.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.14. Four Corners Property Trust has a 12-month low of $20.51 and a 12-month high of $27.71. The firm has a market capitalization of $2.52 billion, a P/E ratio of 25.64 and a beta of 1.08.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.345 per share. The ex-dividend date was Friday, June 28th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.03%. Four Corners Property Trust’s payout ratio is 128.97%.

Wall Street Analyst Weigh In

Separately, JMP Securities initiated coverage on shares of Four Corners Property Trust in a research note on Monday, July 8th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.33.

Insider Buying and Selling

In related news, Director John S. Moody sold 7,230 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total value of $177,568.80. Following the completion of the transaction, the director now directly owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Four Corners Property Trust news, CEO William H. Lenehan purchased 6,230 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was purchased 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 directly owns 620,394 shares of the company’s stock, valued at approximately $14,920,475.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John S. Moody sold 7,230 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total value of $177,568.80. Following the completion of the transaction, the director now directly owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.