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

Four Corners Property Trust (NYSE:FCPT) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.27 earnings per share 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 company had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. During the same period in the prior year, the firm earned $0.42 earnings per share. Four Corners Property Trust’s revenue was up 9.5% on a year-over-year basis.

Four Corners Property Trust Price Performance

FCPT stock traded up $0.17 during midday trading on Friday, reaching $27.43. 801,400 shares of the stock were exchanged, compared to its average volume of 483,718. The stock has a market capitalization of $2.52 billion, a PE ratio of 25.64 and a beta of 1.08. Four Corners Property Trust has a 52 week low of $20.51 and a 52 week 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 company has a fifty day moving average price of $25.29 and a 200 day moving average price of $24.38.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.345 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 128.97%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CEO William H. Lenehan acquired 6,230 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares of the company’s stock, valued at approximately $14,920,475.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William H. Lenehan purchased 6,230 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased 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 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 currently owned by corporate insiders.

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.