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

Four Corners Property Trust (NYSE:FCPTGet Rating) issued its earnings results on Tuesday. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.12), Fidelity Earnings reports. Four Corners Property Trust had a return on equity of 10.15% and a net margin of 44.68%. During the same period last year, the business posted $0.38 EPS.

Four Corners Property Trust Stock Up 1.2 %

Shares of NYSE FCPT traded up $0.35 on Thursday, hitting $29.02. The company had a trading volume of 3,159 shares, compared to its average volume of 344,850. The firm has a market capitalization of $2.33 billion, a P/E ratio of 23.69 and a beta of 0.84. Four Corners Property Trust has a 12-month low of $24.24 and a 12-month high of $30.13. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average of $27.04 and a two-hundred day moving average of $27.07.

Four Corners Property Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $0.3325 dividend. This represents a $1.33 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Wednesday, June 29th. Four Corners Property Trust’s payout ratio is 109.92%.

Analysts Set New Price Targets

FCPT has been the topic of several analyst reports. StockNews.com initiated coverage on Four Corners Property Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group initiated coverage on Four Corners Property Trust in a research note on Wednesday, June 22nd. They issued a “neutral” rating and a $26.00 price target on the stock. Finally, Raymond James boosted their target price on Four Corners Property Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Four Corners Property Trust by 1.8% during the 1st quarter. BlackRock Inc. now owns 15,230,359 shares of the financial services provider’s stock worth $411,828,000 after purchasing an additional 267,083 shares during the period. Vanguard Group Inc. boosted its stake in Four Corners Property Trust by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 9,456,757 shares of the financial services provider’s stock valued at $255,711,000 after purchasing an additional 312,407 shares in the last quarter. State Street Corp boosted its stake in shares of Four Corners Property Trust by 5.4% during the 1st quarter. State Street Corp now owns 4,411,352 shares of the financial services provider’s stock worth $120,723,000 after acquiring an additional 225,087 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Four Corners Property Trust by 3.6% during the 1st quarter. Invesco Ltd. now owns 2,564,004 shares of the financial services provider’s stock worth $69,331,000 after acquiring an additional 88,610 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in shares of Four Corners Property Trust by 2.1% during the 1st quarter. Centersquare Investment Management LLC now owns 1,414,115 shares of the financial services provider’s stock worth $38,238,000 after acquiring an additional 28,559 shares in the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.

About Four Corners Property Trust

(Get Rating)

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.

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Earnings History for Four Corners Property Trust (NYSE:FCPT)

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