Four Corners Property Trust (NYSE:FCPT) Stock: Insider William Lenehan Buys 10,000 Shares

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan bought 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average price of $22.61 per share, for a total transaction of $226,100.00. Following the acquisition, the chief executive officer directly owned 789,857 shares in the company, valued at $17,858,666.77. The trade was a 1.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Four Corners Property Trust Price Performance

FCPT stock opened at $23.16 on Wednesday. The company has a market capitalization of $2.54 billion, a P/E ratio of 12.82 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.12 and a current ratio of 0.12. Four Corners Property Trust, Inc. has a 52-week low of $20.85 and a 52-week high of $26.86. The business has a 50-day simple moving average of $22.80 and a two-hundred day simple moving average of $24.47.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $83.68 million for the quarter, compared to the consensus estimate of $82.44 million. Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. Research analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 15th. Investors 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 annualized dividend and a dividend yield of 6.6%. Four Corners Property Trust’s payout ratio is presently 139.45%.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of analyst reports. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday. Huntington Sec initiated coverage on shares of Four Corners Property Trust in a report on Wednesday, October 28th. They set a “strong-buy” rating on the stock. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Barclays reduced their target price on shares of Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. Finally, Citizens Jmp lowered their target price on shares of Four Corners Property Trust from $28.00 to $26.00 and set a “market outperform” rating for the company in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Four Corners Property Trust has an average rating of “Moderate Buy” and an average target price of $26.45.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Four Corners Property Trust during the second quarter worth $490,406,000. Lasalle Investment Management Securities LLC boosted its position in Four Corners Property Trust by 79.9% in the first quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock worth $60,680,000 after purchasing an additional 1,139,493 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Four Corners Property Trust by 75.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock worth $55,469,000 after purchasing an additional 1,010,648 shares during the last quarter. Callodine Capital Management LP boosted its position in Four Corners Property Trust by 19.6% in the first quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock worth $37,027,000 after purchasing an additional 256,325 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Four Corners Property Trust by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider’s stock valued at $35,100,000 after purchasing an additional 16,891 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

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.