Four Corners Property Trust (NYSE:FCPT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Four Corners Property Trust (NYSE:FCPT) issued its earnings results on Wednesday. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02, Zacks reports. The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS.

Four Corners Property Trust Stock Down 0.4%

FCPT traded down $0.11 during trading hours on Wednesday, hitting $25.24. 838,896 shares of the company’s stock were exchanged, compared to its average volume of 866,525. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 23.15 and a beta of 0.83. Four Corners Property Trust has a 1-year low of $22.78 and a 1-year high of $29.81. The stock’s 50-day moving average is $23.90 and its two-hundred day moving average is $24.49. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FCPT shares. Barclays decreased their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Finally, Evercore lowered their price target on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Two 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 has an average rating of “Hold” and a consensus price target of $28.00.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund raised its position in Four Corners Property Trust by 11.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 58,320 shares of the financial services provider’s stock valued at $1,345,000 after buying an additional 6,125 shares during the last quarter. Metis Global Partners LLC lifted its stake in Four Corners Property Trust by 10.8% in the fourth quarter. Metis Global Partners LLC now owns 25,096 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 2,440 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Four Corners Property Trust by 47.5% in the 4th quarter. JPMorgan Chase & Co. now owns 902,582 shares of the financial services provider’s stock valued at $20,814,000 after acquiring an additional 290,800 shares during the period. Parallel Advisors LLC grew its stake in Four Corners Property Trust by 73.1% in the 4th quarter. Parallel Advisors LLC now owns 1,802 shares of the financial services provider’s stock valued at $42,000 after buying an additional 761 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Four Corners Property Trust by 6.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 40,206 shares of the financial services provider’s stock valued at $927,000 after purchasing an additional 2,328 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

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.