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

Four Corners Property Trust (NYSE:FCPT) released its quarterly earnings results on Wednesday. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.17, Zacks reports. The firm had revenue of $83.68 million for the quarter, compared to analysts’ expectations of $82.44 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.

Four Corners Property Trust Stock Performance

Shares of FCPT stock traded down $0.18 during mid-day trading on Wednesday, reaching $21.98. 1,092,125 shares of the company’s stock traded hands, compared to its average volume of 879,487. Four Corners Property Trust has a 12 month low of $20.85 and a 12 month high of $26.86. The firm has a 50 day moving average price of $23.06 and a two-hundred day moving average price of $24.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $2.41 billion, a PE ratio of 19.80 and a beta of 0.80.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.1265 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.9%. Four Corners Property Trust’s payout ratio is presently 132.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FCPT. Jefferies Financial Group set a $28.00 price target on Four Corners Property Trust in a research note on Tuesday, August 25th. UBS Group reiterated a “buy” rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Wells Fargo & Company lowered their target price on Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. JPMorgan Chase & Co. lowered their target price on Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. Finally, Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.91.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.