Brokerages Expect Four Corners Property Trust Inc (NYSE:FCPT) Will Post Earnings of $0.34 Per Share

Analysts expect that Four Corners Property Trust Inc (NYSE:FCPT) will announce $0.34 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Four Corners Property Trust’s earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.33. Four Corners Property Trust reported earnings of $0.35 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.9%. The firm is expected to announce its next earnings report after the market closes on Tuesday, October 29th.

According to Zacks, analysts expect that Four Corners Property Trust will report full-year earnings of $1.37 per share for the current year, with EPS estimates ranging from $1.36 to $1.38. For the next financial year, analysts anticipate that the business will report earnings of $1.48 per share, with EPS estimates ranging from $1.47 to $1.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Four Corners Property Trust.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $40.64 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Four Corners Property Trust’s quarterly revenue was up 14.1% compared to the same quarter last year.

A number of analysts have recently weighed in on FCPT shares. Berenberg Bank upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. Finally, ValuEngine cut shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $31.40.

Shares of Four Corners Property Trust stock traded up $0.05 on Friday, reaching $28.20. The stock had a trading volume of 424,556 shares, compared to its average volume of 307,160. The business’s 50-day moving average price is $28.51 and its two-hundred day moving average price is $28.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. Four Corners Property Trust has a fifty-two week low of $24.97 and a fifty-two week high of $29.85. The stock has a market cap of $1.93 billion, a P/E ratio of 20.00 and a beta of 0.15.

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

A number of large investors have recently added to or reduced their stakes in FCPT. Invesco Ltd. raised its stake in Four Corners Property Trust by 219.4% during the 2nd quarter. Invesco Ltd. now owns 3,727,161 shares of the financial services provider’s stock valued at $101,864,000 after purchasing an additional 2,560,414 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Four Corners Property Trust by 171.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,359,375 shares of the financial services provider’s stock valued at $64,482,000 after buying an additional 1,490,954 shares during the period. Balyasny Asset Management LLC increased its holdings in Four Corners Property Trust by 332.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 629,130 shares of the financial services provider’s stock valued at $17,194,000 after buying an additional 483,495 shares during the period. Echo Street Capital Management LLC bought a new stake in Four Corners Property Trust in the 2nd quarter valued at $12,096,000. Finally, Vanguard Group Inc. increased its holdings in Four Corners Property Trust by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,053,856 shares of the financial services provider’s stock valued at $220,112,000 after buying an additional 277,500 shares during the period. Hedge funds and other institutional investors own 91.54% 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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