Four Corners Property Trust (NYSE:FCPT – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.29 by $0.16, Zacks reports. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.During the same period in the prior year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis.
Four Corners Property Trust Stock Performance
Shares of FCPT stock traded up $0.34 during trading on Wednesday, hitting $26.32. The company’s stock had a trading volume of 1,096,101 shares, compared to its average volume of 671,925. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.89 billion, a PE ratio of 14.52 and a beta of 0.80. The business has a fifty day moving average of $25.14 and a 200-day moving average of $24.97. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $26.86.
Four Corners Property Trust Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.6%. Four Corners Property Trust’s dividend payout ratio is currently 131.25%.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on FCPT
Insider Buying and Selling
In other Four Corners Property Trust news, CEO William H. Lenehan acquired 3,961 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average price of $25.23 per share, with a total value of $99,936.03. Following the completion of the transaction, the chief executive officer owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.
Institutional Investors Weigh In On Four Corners Property Trust
A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 463 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Four Corners Property Trust during the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC increased its stake in shares of Four Corners Property Trust by 136.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,570 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Four Corners Property Trust by 31.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 883 shares during the period. Finally, McMillan Office Inc. bought a new stake in shares of Four Corners Property Trust in the 4th quarter worth approximately $104,000. 98.66% of the stock is currently owned by institutional investors.
Four Corners Property Trust Company Profile
Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.
The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.
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