Key Points
- CEO William Lenehan bought 6,468 shares at an average price of $23.19, investing about $150,000 and increasing his stake by 0.82% to 796,325 shares.
- FCPT’s latest quarterly EPS of $0.26 missed the $0.29 consensus estimate, while revenue rose 12.9% year over year to $83.68 million.
- The company declared a monthly dividend of $0.1265 per share, equivalent to a 6.5% annualized yield; analysts’ consensus rating was “Moderate Buy,” with a $26.45 average price target.
Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) CEO William Lenehan purchased 6,468 shares of the business's stock in a transaction that occurred on Friday, November 13th. The stock was bought at an average cost of $23.19 per share, for a total transaction of $149,992.92. Following the acquisition, the chief executive officer owned 796,325 shares in the company, valued at approximately $18,466,776.75. The trade was a 0.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Four Corners Property Trust Stock Performance
NYSE:FCPT traded up $0.24 during midday trading on Friday, reaching $23.31. 952,691 shares of the company traded hands, compared to its average volume of 1,146,288. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 21.39 and a beta of 0.77. The company has a fifty day moving average price of $22.54 and a 200 day moving average price of $24.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust, Inc. has a twelve month low of $20.85 and a twelve month high of $26.86.
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 the consensus estimate 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 company had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. During the same period in the prior year, the business earned $0.45 earnings per share. Four Corners Property Trust's quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts expect 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 declared a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.1265 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 6.5%. Four Corners Property Trust's payout ratio is 139.45%.
Institutional Trading of Four Corners Property Trust
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Four Corners Property Trust during the 2nd quarter valued at $490,406,000. Lasalle Investment Management Securities LLC boosted its position in Four Corners Property Trust by 79.9% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider's stock worth $60,680,000 after acquiring an additional 1,139,493 shares during the period. Callodine Capital Management LP boosted its position in Four Corners Property Trust by 19.6% during the 1st quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider's stock worth $37,027,000 after acquiring an additional 256,325 shares during the period. Dimensional Fund Advisors LP boosted its position in Four Corners Property Trust by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider's stock worth $35,100,000 after acquiring an additional 16,891 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Four Corners Property Trust by 7.9% in the first quarter. Bank of America Corp DE now owns 1,317,179 shares of the financial services provider's stock worth $31,151,000 after purchasing an additional 96,689 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently commented on FCPT. Royal Bank Of Canada set a $26.00 price target on shares of Four Corners Property Trust in a research report on Monday, November 2nd. Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Barclays reduced their target price on shares of Four Corners Property Trust from $30.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 20th. Citizens Jmp reduced their target price on shares of Four Corners Property Trust from $28.00 to $26.00 and set a "market outperform" rating for the company in a research note on Monday, November 2nd. Finally, Citigroup restated a "market outperform" rating on shares of Four Corners Property Trust in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.45.
Check Out Our Latest Report on Four Corners Property Trust
Four Corners Property Trust Company Profile
(
Get Free Report)
Four Corners Property Trust, Inc. (NYSE: FCPT) is a real estate investment trust that acquires, owns and leases properties across the United States. Its portfolio is focused primarily on restaurants, with additional properties used for other retail and service businesses. FCPT generally leases its properties to operating companies under long-term net leases, which typically make tenants responsible for property expenses such as taxes, insurance and maintenance. The company was established as an independent public company in 2015 through a spin-off from Darden Restaurants, and its initial portfolio included restaurant properties.
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