Key Points
- CEO William Lenehan bought 3,961 shares at an average price of $25.23 on May 5th for about $99,936, increasing his stake by 0.51% to 775,696 shares (SEC filing disclosed).
- Four Corners reported Q1 EPS of $0.28, missing estimates by $0.14, while revenue rose 9.4% year-over-year to $78.17 million.
- The company pays a quarterly dividend of $0.3665 (annualized $1.47) for a 5.8% yield, but the payout ratio is a high 131.25%, which may concern income investors.
Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) CEO William Lenehan purchased 3,961 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the transaction, the chief executive officer directly owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Four Corners Property Trust Stock Up 1.1%
Shares of Four Corners Property Trust stock opened at $25.43 on Thursday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The business's 50 day simple moving average is $24.98 and its 200-day simple moving average is $24.38. The stock 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, Inc. has a twelve month low of $22.78 and a twelve month high of $28.14.
Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.14). The company had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.75 earnings per share for the current year.
Four Corners Property Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, March 31st. Four Corners Property Trust's dividend payout ratio is presently 131.25%.
Analysts Set New Price Targets
FCPT has been the topic of a number of research reports. Citizens Jmp upgraded Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price target on the stock in a research report on Wednesday, March 25th. Barclays increased their price objective on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 21st. Raymond James Financial decreased their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Tuesday, March 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Four Corners Property Trust in a report on Wednesday, April 8th. Finally, BMO Capital Markets started coverage on Four Corners Property Trust in a report on Friday, April 17th. They issued a "market perform" rating and a $27.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Four Corners Property Trust presently has an average rating of "Hold" and an average price target of $28.00.
Check Out Our Latest Report on Four Corners Property Trust
Hedge Funds Weigh In On Four Corners Property Trust
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock worth $25,000 after buying an additional 463 shares in the last quarter. Arizona State Retirement System grew its holdings in Four Corners Property Trust by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider's stock worth $725,000 after buying an additional 554 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Four Corners Property Trust by 1.1% during the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider's stock valued at $1,467,000 after purchasing an additional 568 shares in the last quarter. Strs Ohio boosted its stake in Four Corners Property Trust by 3.3% during the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 600 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Four Corners Property Trust by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider's stock valued at $2,554,000 after purchasing an additional 647 shares in the last quarter. 98.66% of the stock is owned by institutional investors.
Four Corners Property Trust Company Profile
(
Get Free Report)
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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