Wall Street analysts forecast that Four Corners Property Trust Inc (NYSE:FCPT) will report sales of $36.38 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Four Corners Property Trust’s earnings, with estimates ranging from $36.06 million to $36.70 million. Four Corners Property Trust reported sales of $33.51 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.6%. The company is expected to issue its next earnings results after the market closes on Monday, October 29th.
According to Zacks, analysts expect that Four Corners Property Trust will report full year sales of $144.57 million for the current fiscal year, with estimates ranging from $143.83 million to $145.31 million. For the next year, analysts expect that the business will report sales of $160.04 million, with estimates ranging from $159.60 million to $160.49 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Four Corners Property Trust.
Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.35 by $0.09. The firm had revenue of $34.70 million during the quarter, compared to analysts’ expectations of $34.86 million. Four Corners Property Trust had a return on equity of 14.59% and a net margin of 59.38%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS.
Several equities analysts have commented on FCPT shares. 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 raised Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 9th.
Institutional investors and hedge funds have recently modified their holdings of the company. Trust Department MB Financial Bank N A acquired a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $108,000. Itau Unibanco Holding S.A. acquired a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $166,000. Nisa Investment Advisors LLC acquired 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 acquired a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $320,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Four Corners Property Trust in the 1st quarter worth approximately $325,000. 88.59% of the stock is owned by institutional investors and hedge funds.
Four Corners Property Trust stock traded up $0.07 during trading hours on Friday, hitting $25.94. The stock had a trading volume of 408,200 shares, compared to its average volume of 367,242. The company has a quick ratio of 6.59, a current ratio of 6.59 and a debt-to-equity ratio of 0.90. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 19.00 and a beta of 0.05. Four Corners Property Trust has a fifty-two week low of $21.28 and a fifty-two week high of $27.48.
The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were issued a $0.275 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.24%. Four Corners Property Trust’s payout ratio is presently 80.88%.
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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