Equities research analysts expect that Four Corners Property Trust Inc (NYSE:FCPT) will post $36.12 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Four Corners Property Trust’s earnings, with the highest sales estimate coming in at $36.70 million and the lowest estimate coming in at $35.54 million. Four Corners Property Trust posted sales of $33.51 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.8%. The company is expected to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Four Corners Property Trust will report full year sales of $143.37 million for the current financial year, with estimates ranging from $141.43 million to $145.31 million. For the next year, analysts expect that the business will report sales of $155.74 million per share, with estimates ranging from $150.99 million to $160.49 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Four Corners Property Trust.
Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, July 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The company had revenue of $34.70 million for the quarter, compared to the consensus estimate of $34.86 million. Four Corners Property Trust had a return on equity of 14.59% and a net margin of 59.38%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS.
Several research firms have weighed in on FCPT. LADENBURG THALM/SH SH cut Four Corners Property Trust from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Tuesday, July 31st. Zacks Investment Research upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.00.
FCPT traded down $0.16 on Friday, hitting $26.01. 360,648 shares of the company’s stock traded hands, compared to its average volume of 479,703. The company has a market capitalization of $1.65 billion, a PE ratio of 19.13 and a beta of -0.04. Four Corners Property Trust has a one year low of $21.28 and a one year high of $26.96. The company has a current ratio of 6.59, a quick ratio of 6.59 and a debt-to-equity ratio of 0.90.
The company also recently declared a quarterly dividend, which was paid on Friday, July 13th. Shareholders of record on Friday, June 29th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, June 28th. Four Corners Property Trust’s dividend payout ratio is presently 80.88%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trust Department MB Financial Bank N A purchased a new position in Four Corners Property Trust during the 2nd quarter valued at approximately $108,000. Synovus Financial Corp purchased a new position in Four Corners Property Trust during the 1st quarter valued at approximately $133,000. Nisa Investment Advisors LLC purchased a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $265,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $320,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Four Corners Property Trust in the 1st quarter worth approximately $325,000. Institutional investors and hedge funds own 85.51% of the company’s stock.
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 by acquiring additional real estate to lease for use in the restaurant and related food services industry.
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