Four Corners Property Trust (NYSE:FCPT) Stock: Insider William Lenehan Buys 10,000 Shares

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was bought at an average price of $22.61 per share, for a total transaction of $226,100.00. Following the acquisition, the chief executive officer owned 789,857 shares in the company, valued at $17,858,666.77. The trade was a 1.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Four Corners Property Trust Trading Up 3.4%

Shares of NYSE FCPT traded up $0.77 during trading on Monday, hitting $23.24. 1,408,778 shares of the company traded hands, compared to its average volume of 886,687. Four Corners Property Trust, Inc. has a 1 year low of $20.85 and a 1 year high of $26.86. The company has a 50-day moving average price of $22.88 and a 200-day moving average price of $24.48. The firm has a market capitalization of $2.55 billion, a P/E ratio of 21.32 and a beta of 0.80. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.58.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The firm had revenue of $83.68 million for the quarter, compared to analyst estimates of $82.44 million. Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities analysts predict that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared 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 6.5%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust’s payout ratio is 138.53%.

Institutional Investors Weigh In On Four Corners Property Trust

A number of large investors have recently modified their holdings of FCPT. BlackRock Inc. acquired a new stake in Four Corners Property Trust during the 2nd quarter valued at $490,406,000. Lasalle Investment Management Securities LLC increased its stake in Four Corners Property Trust by 79.9% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock worth $60,680,000 after buying an additional 1,139,493 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Four Corners Property Trust by 75.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock worth $55,469,000 after buying an additional 1,010,648 shares during the period. Callodine Capital Management LP lifted its holdings in Four Corners Property Trust by 19.6% in the 1st quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock worth $37,027,000 after buying an additional 256,325 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Four Corners Property Trust by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider’s stock worth $35,100,000 after buying an additional 16,891 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. Huntington initiated coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price for the company. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday. Royal Bank Of Canada set a $26.00 target price on shares of Four Corners Property Trust in a research report on Monday. Finally, UBS Group restated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.45.

About Four Corners Property Trust

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.