Brokerages Expect Four Corners Property Trust Inc (NYSE:FCPT) Will Announce Quarterly Sales of $40.80 Million

Brokerages forecast that Four Corners Property Trust Inc (NYSE:FCPT) will post $40.80 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Four Corners Property Trust’s earnings, with the lowest sales estimate coming in at $40.26 million and the highest estimate coming in at $41.74 million. Four Corners Property Trust posted sales of $36.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Four Corners Property Trust will report full year sales of $161.96 million for the current financial year, with estimates ranging from $160.63 million to $164.49 million. For the next fiscal year, analysts anticipate that the company will report sales of $174.21 million, with estimates ranging from $172.70 million to $175.64 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Four Corners Property Trust.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.10). The firm had revenue of $39.57 million during the quarter, compared to the consensus estimate of $40.64 million. Four Corners Property Trust had a net margin of 48.31% and a return on equity of 10.75%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share.

A number of brokerages recently weighed in on FCPT. Janney Montgomery Scott began coverage on shares of Four Corners Property Trust in a research note on Friday, June 21st. They issued a “buy” rating and a $32.00 target price for the company. Berenberg Bank upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Boenning Scattergood reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research note on Wednesday, April 24th. Zacks Investment Research lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, ValuEngine lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.40.

NYSE FCPT traded up $0.33 on Thursday, reaching $27.84. The company had a trading volume of 391,519 shares, compared to its average volume of 388,373. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 19.74 and a beta of 0.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. Four Corners Property Trust has a 1-year low of $24.58 and a 1-year high of $29.85. The company’s fifty day moving average is $27.39 and its 200-day moving average is $28.22.

Large investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Four Corners Property Trust by 0.7% in the 2nd quarter. BlackRock Inc. now owns 12,970,483 shares of the financial services provider’s stock valued at $354,483,000 after buying an additional 91,389 shares during the period. Vanguard Group Inc. increased its position in shares of Four Corners Property Trust by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,053,856 shares of the financial services provider’s stock valued at $220,112,000 after buying an additional 277,500 shares in the last quarter. FMR LLC increased its position in shares of Four Corners Property Trust by 9.1% in the 4th quarter. FMR LLC now owns 5,084,348 shares of the financial services provider’s stock valued at $133,209,000 after buying an additional 423,932 shares in the last quarter. Invesco Ltd. increased its position in shares of Four Corners Property Trust by 219.4% in the 2nd quarter. Invesco Ltd. now owns 3,727,161 shares of the financial services provider’s stock valued at $101,864,000 after buying an additional 2,560,414 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Four Corners Property Trust by 171.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,359,375 shares of the financial services provider’s stock worth $64,482,000 after purchasing an additional 1,490,954 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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