Four Corners Property Trust (NYSE:FCPT) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Four Corners Property Trust (NYSE:FCPT) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03), Zacks reports. The firm had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $22.33 on Friday. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 20.49 and a beta of 0.80. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 12 month low of $20.85 and a 12 month high of $26.86. The stock’s 50 day moving average is $22.94 and its 200-day moving average is $24.49.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.1265 per share. This represents a $1.52 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust’s payout ratio is 138.53%.

Analyst Ratings Changes

A number of research firms recently commented on FCPT. Wells Fargo & Company dropped their price objective on Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Citizens Jmp restated a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, Huntington assumed coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.70.

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.