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

Four Corners Property Trust (NYSE:FCPT) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02, Zacks reports. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.57%. The business had revenue of $75.67 million during the quarter, compared to analyst estimates of $76.04 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis.

Four Corners Property Trust Price Performance

FCPT stock traded up $0.08 during mid-day trading on Friday, hitting $24.50. The stock had a trading volume of 263,541 shares, compared to its average volume of 891,847. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $29.81. The firm has a market capitalization of $2.60 billion, a P/E ratio of 22.25 and a beta of 0.83. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $23.96 and a 200 day simple moving average of $24.49.

Analysts Set New Price Targets

FCPT has been the topic of a number of recent research reports. Robert W. Baird set a $29.00 price objective on Four Corners Property Trust in a research note on Wednesday, October 29th. Barclays reduced their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Evercore reduced their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Finally, Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $28.00.

Institutional Trading of Four Corners Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new stake in Four Corners Property Trust during the third quarter valued at approximately $318,000. Brevan Howard Capital Management LP bought a new stake in Four Corners Property Trust during the third quarter valued at about $240,000. Squarepoint Ops LLC purchased a new position in Four Corners Property Trust in the 3rd quarter worth approximately $227,000. Orion Porfolio Solutions LLC lifted its holdings in shares of Four Corners Property Trust by 40.0% in the second quarter. Orion Porfolio Solutions LLC now owns 9,873 shares of the financial services provider’s stock worth $266,000 after buying an additional 2,822 shares in the last quarter. Finally, Caxton Associates LLP purchased a new stake in Four Corners Property Trust in the 2nd quarter worth $261,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Company Profile

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.