Four Corners Property Trust (NYSE:FCPT) Releases Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Four Corners Property Trust (NYSE:FCPT) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17), FiscalAI reports. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $76.04 million.

Four Corners Property Trust Trading Down 0.4%

Shares of FCPT stock traded down $0.11 on Wednesday, hitting $25.24. The stock had a trading volume of 838,896 shares, compared to its average volume of 866,525. The firm has a market cap of $2.68 billion, a P/E ratio of 23.15 and a beta of 0.83. Four Corners Property Trust has a twelve month low of $22.78 and a twelve month high of $29.81. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $23.90 and a two-hundred day moving average price of $24.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FCPT shares. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Evercore cut their price objective on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Robert W. Baird set a $29.00 target price on shares of Four Corners Property Trust in a report on Wednesday, October 29th. Finally, Barclays cut their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Hold” and an average price target of $28.00.

Institutional Investors Weigh In On Four Corners Property Trust

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in 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 buying an additional 1,570 shares during the period. Smartleaf Asset Management LLC lifted its stake in Four Corners Property Trust by 31.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock valued at $101,000 after buying an additional 883 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Four Corners Property Trust in the second quarter valued at approximately $214,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Four Corners Property Trust during the third quarter worth $227,000. 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.