Four Corners Property Trust (NYSE:FCPT) CEO Purchases 6,468 Shares of Company Stock

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan bought 6,468 shares of Four Corners Property Trust stock in a transaction that occurred on Friday, November 13th. The stock was bought at an average price of $23.19 per share, with a total value of $149,992.92. Following the completion of 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock traded up $0.24 during trading hours on Friday, reaching $23.31. 952,508 shares of the company were exchanged, compared to its average volume of 893,040. 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 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $22.57 and a 200 day moving average of $24.43. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 21.39 and a beta of 0.77.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data 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). The firm had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. Four Corners Property Trust’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, research analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $0.1265 dividend. This represents a $1.52 annualized dividend and a yield of 6.5%. The ex-dividend date is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 139.45%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FCPT. Huntington began coverage on shares of Four Corners Property Trust in a research report on Wednesday, October 28th. They set a “strong-buy” rating for the company. JPMorgan Chase & Co. lowered their price target on Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Royal Bank Of Canada set a $26.00 price objective on Four Corners Property Trust in a research note on Monday, November 2nd. Barclays cut their price objective on Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.45.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently bought and sold shares of the stock. Edgestream Partners L.P. acquired a new position in shares of Four Corners Property Trust in the 3rd quarter valued at $6,878,000. Aberdeen Group plc lifted its holdings in shares of Four Corners Property Trust by 6.1% during the 3rd quarter. Aberdeen Group plc now owns 45,682 shares of the financial services provider’s stock worth $994,000 after acquiring an additional 2,616 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Four Corners Property Trust by 52.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 24,271 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 8,344 shares in the last quarter. Keybank National Association OH boosted its position in shares of Four Corners Property Trust by 2.6% during the 3rd quarter. Keybank National Association OH now owns 25,785 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 657 shares in the last quarter. Finally, Kestra Investment Management LLC increased its stake in Four Corners Property Trust by 36.0% in the third quarter. Kestra Investment Management LLC now owns 15,629 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 4,133 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

About Four Corners Property Trust

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.