Key Points
- CEO William Lenehan purchased 10,000 FCPT shares at an average price of $22.61, investing $226,100 and increasing his ownership by 1.28% to 789,857 shares.
- Four Corners Property Trust reported quarterly revenue of $83.68 million, up 12.9% year over year, but earnings per share of $0.26 fell short of analysts’ $0.29 consensus estimate.
- The company 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 the company's stock in a transaction dated Monday, November 2nd. The shares were bought at an average price of $22.61 per share, for a total transaction of $226,100.00. Following the purchase, the chief executive officer owned 789,857 shares in the company, valued at approximately $17,858,666.77. This represents a 1.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Four Corners Property Trust Trading Up 3.4%
NYSE FCPT opened at $23.24 on Tuesday. Four Corners Property Trust, Inc. has a 12 month low of $20.85 and a 12 month high of $26.86. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $22.84 and a 200-day moving average of $24.47. The company has a market cap of $2.55 billion, a PE ratio of 21.32 and a beta of 0.80.
Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.03). Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The firm had revenue of $83.68 million for the quarter, compared to analyst estimates of $82.44 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Four Corners Property Trust's quarterly revenue was up 12.9% on a year-over-year basis. On average, equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 EPS for the current fiscal year.
Four Corners Property Trust Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a $0.1265 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust's dividend payout ratio (DPR) is 134.86%.
Analyst Ratings Changes
Several research firms have recently weighed in on FCPT. Weiss Ratings lowered shares of Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada set a $26.00 target price on shares of Four Corners Property Trust in a research note on Monday. Barclays reduced their price target on Four Corners Property Trust from $30.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, October 20th. Citizens Jmp lowered their price target on Four Corners Property Trust from $28.00 to $26.00 and set a "market outperform" rating on the stock in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on Four Corners Property Trust from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.45.
View Our Latest Stock Analysis on Four Corners Property Trust
Institutional Investors Weigh In On Four Corners Property Trust
Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Four Corners Property Trust during the second quarter worth $490,406,000. Bank of America Corp DE bought a new position in shares of Four Corners Property Trust in the second quarter valued at about $29,000,000. Lasalle Investment Management Securities LLC raised its position in shares of Four Corners Property Trust by 79.9% in the first quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider's stock valued at $60,680,000 after purchasing an additional 1,139,493 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Four Corners Property Trust in the second quarter valued at about $25,196,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Four Corners Property Trust by 75.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider's stock valued at $55,469,000 after purchasing an additional 1,010,648 shares during the period. Institutional investors and hedge funds own 98.66% of the company's stock.
Four Corners Property Trust Company Profile
(
Get Free Report)
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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