Four Corners Property Trust Inc (NYSE:FCPT) Expected to Post Quarterly Sales of $40.59 Million

Wall Street brokerages expect that Four Corners Property Trust Inc (NYSE:FCPT) will report $40.59 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Four Corners Property Trust’s earnings, with the highest sales estimate coming in at $41.11 million and the lowest estimate coming in at $40.26 million. Four Corners Property Trust reported sales of $36.12 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.4%. The firm is expected to announce its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Four Corners Property Trust will report full-year sales of $161.45 million for the current year, with estimates ranging from $160.63 million to $162.95 million. For the next fiscal year, analysts anticipate that the company will post sales of $174.65 million, with estimates ranging from $172.70 million to $176.96 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Four Corners Property Trust.

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



A number of research firms have recently commented on FCPT. ValuEngine cut Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Berenberg Bank raised Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Janney Montgomery Scott began coverage on Four Corners Property Trust in a research note on Friday, June 21st. They set a “buy” rating and a $32.00 target price on the stock. Finally, Zacks Investment Research cut Four Corners Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Four Corners Property Trust currently has a consensus rating of “Hold” and an average target price of $31.40.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its position in Four Corners Property Trust by 12.0% during the 2nd quarter. Macquarie Group Ltd. now owns 29,000 shares of the financial services provider’s stock valued at $793,000 after acquiring an additional 3,100 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of Four Corners Property Trust during the 2nd quarter valued at $445,000. BlackRock Inc. lifted its holdings in shares of Four Corners Property Trust by 0.7% during the 2nd quarter. BlackRock Inc. now owns 12,970,483 shares of the financial services provider’s stock valued at $354,483,000 after purchasing an additional 91,389 shares during the last quarter. Barings LLC lifted its holdings in shares of Four Corners Property Trust by 26.2% during the 2nd quarter. Barings LLC now owns 13,000 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Four Corners Property Trust during the 2nd quarter valued at $164,000. 91.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of FCPT traded up $0.15 during mid-day trading on Friday, reaching $28.21. 266,767 shares of the company’s stock traded hands, compared to its average volume of 375,721. The stock has a market cap of $1.92 billion, a P/E ratio of 20.01 and a beta of 0.15. The stock’s 50-day moving average is $28.19 and its two-hundred day moving average is $28.31. Four Corners Property Trust has a 12 month low of $24.58 and a 12 month high of $29.85. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.77 and a quick ratio of 3.77.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a $0.2875 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.15 annualized dividend and a yield of 4.08%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.24. Four Corners Property Trust’s dividend payout ratio is 81.56%.

About Four Corners Property Trust

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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