Wall Street analysts expect Four Corners Property Trust Inc (NYSE:FCPT) to announce $40.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Four Corners Property Trust’s earnings, with estimates ranging from $40.26 million to $41.74 million. Four Corners Property Trust reported sales of $36.12 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.4%. The firm is expected to issue its next quarterly earnings report on Monday, November 4th.
On average, analysts expect that Four Corners Property Trust will report full year sales of $162.47 million for the current fiscal year, with estimates ranging from $160.76 million to $164.49 million. For the next fiscal year, analysts forecast that the firm will post sales of $174.80 million, with estimates ranging from $174.29 million to $175.64 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Four Corners Property Trust.
Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.10). The business had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $40.64 million. Four Corners Property Trust had a net margin of 48.31% and a return on equity of 10.75%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share.
Several research firms recently issued reports on FCPT. Zacks Investment Research cut shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Janney Montgomery Scott began coverage on shares of Four Corners Property Trust in a research note on Friday, June 21st. They issued a “buy” rating and a $32.00 target price for the company. Boenning Scattergood reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research note on Wednesday, April 24th. Berenberg Bank upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays began coverage on shares of Four Corners Property Trust in a research note on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Four Corners Property Trust currently has an average rating of “Buy” and a consensus target price of $31.40.
Shares of FCPT stock traded down $0.07 during trading hours on Thursday, hitting $27.69. The company’s stock had a trading volume of 297,301 shares, compared to its average volume of 401,358. The stock has a 50 day simple moving average of $27.45. The stock has a market cap of $1.90 billion, a PE ratio of 19.64 and a beta of 0.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. Four Corners Property Trust has a 12-month low of $24.58 and a 12-month high of $29.85.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Thursday, June 27th. Four Corners Property Trust’s payout ratio is 81.56%.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Four Corners Property Trust by 9.1% in the fourth quarter. FMR LLC now owns 5,084,348 shares of the financial services provider’s stock valued at $133,209,000 after purchasing an additional 423,932 shares during the period. Principal Financial Group Inc. boosted its stake in Four Corners Property Trust by 3.6% during the first quarter. Principal Financial Group Inc. now owns 1,680,469 shares of the financial services provider’s stock worth $49,741,000 after buying an additional 58,935 shares during the period. Wells Fargo & Company MN boosted its stake in Four Corners Property Trust by 7.3% during the second quarter. Wells Fargo & Company MN now owns 1,550,879 shares of the financial services provider’s stock worth $42,385,000 after buying an additional 104,902 shares during the period. Dimensional Fund Advisors LP boosted its stake in Four Corners Property Trust by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 962,170 shares of the financial services provider’s stock worth $25,209,000 after buying an additional 27,864 shares during the period. Finally, Norges Bank purchased a new position in Four Corners Property Trust during the fourth quarter worth about $22,547,000. 89.88% of the stock is owned by hedge funds and other institutional investors.
About Four Corners Property Trust
FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.
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