$41.02 Million in Sales Expected for Four Corners Property Trust Inc (NYSE:FCPT) This Quarter

Wall Street brokerages expect Four Corners Property Trust Inc (NYSE:FCPT) to report $41.02 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Four Corners Property Trust’s earnings. The lowest sales estimate is $40.76 million and the highest is $41.53 million. Four Corners Property Trust posted sales of $38.04 million in the same quarter last year, which suggests a positive year over year growth rate of 7.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 12th.

On average, analysts expect that Four Corners Property Trust will report full year sales of $160.20 million for the current financial year, with estimates ranging from $160.11 million to $160.39 million. For the next year, analysts forecast that the firm will post sales of $177.59 million, with estimates ranging from $176.93 million to $179.46 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Four Corners Property Trust.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $40.18 million during the quarter, compared to the consensus estimate of $40.49 million. Four Corners Property Trust had a return on equity of 10.90% and a net margin of 47.59%.

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Four Corners Property Trust in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $30.00 price target for the company. Zacks Investment Research upgraded shares of Four Corners Property Trust from a “strong sell” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Four Corners Property Trust currently has a consensus rating of “Buy” and a consensus price target of $31.17.

Shares of NYSE:FCPT traded up $0.03 during midday trading on Tuesday, reaching $28.59. The company had a trading volume of 272,873 shares, compared to its average volume of 333,816. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.41 and a quick ratio of 3.41. The stock’s fifty day moving average price is $27.68 and its 200-day moving average price is $27.90. The stock has a market capitalization of $1.97 billion, a P/E ratio of 20.25 and a beta of 0.12. Four Corners Property Trust has a one year low of $26.23 and a one year high of $29.85.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.305 per share. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.22 annualized dividend and a yield of 4.27%. Four Corners Property Trust’s payout ratio is presently 86.52%.

A number of hedge funds have recently added to or reduced their stakes in FCPT. Stonebridge Capital Advisors LLC bought a new stake in Four Corners Property Trust during the second quarter valued at $30,000. HM Payson & Co. bought a new stake in Four Corners Property Trust during the second quarter valued at $32,000. Point72 Hong Kong Ltd bought a new stake in Four Corners Property Trust during the second quarter valued at $47,000. Marshall Wace North America L.P. increased its stake in Four Corners Property Trust by 37.8% during the first quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 638 shares during the last quarter. Finally, Optimum Investment Advisors grew its position in shares of Four Corners Property Trust by 34.0% during the third quarter. Optimum Investment Advisors now owns 2,692 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 683 shares during the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.

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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