Four Corners Property Trust (NYSE:FCPT) CEO Buys $200,478.85 in Stock

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan acquired 7,865 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $25.49 per share, with a total value of $200,478.85. Following the transaction, the chief executive officer owned 765,845 shares in the company, valued at $19,521,389.05. This represents a 1.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Four Corners Property Trust Trading Up 0.6%

NYSE:FCPT traded up $0.16 on Friday, reaching $25.66. The stock had a trading volume of 669,447 shares, compared to its average volume of 893,056. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 23.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13. The firm’s fifty day moving average is $24.57 and its two-hundred day moving average is $24.45. Four Corners Property Trust, Inc. has a 12-month low of $22.78 and a 12-month high of $29.81.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $75.67 million during the quarter, compared to the consensus estimate of $76.04 million. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Four Corners Property Trust’s dividend payout ratio is currently 133.64%.

Hedge Funds Weigh In On Four Corners Property Trust

Large investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of Four Corners Property Trust by 41.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,409 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 5,374 shares in the last quarter. XTX Topco Ltd purchased a new position in Four Corners Property Trust in the fourth quarter valued at approximately $830,000. Zimmer Partners LP lifted its position in Four Corners Property Trust by 5.7% during the fourth quarter. Zimmer Partners LP now owns 185,092 shares of the financial services provider’s stock valued at $4,268,000 after buying an additional 10,000 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Four Corners Property Trust by 17.9% during the fourth quarter. Voloridge Investment Management LLC now owns 477,701 shares of the financial services provider’s stock worth $11,016,000 after buying an additional 72,636 shares during the period. Finally, Tudor Investment Corp ET AL grew its stake in Four Corners Property Trust by 398.5% during the fourth quarter. Tudor Investment Corp ET AL now owns 154,539 shares of the financial services provider’s stock worth $3,564,000 after buying an additional 123,538 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Citigroup restated a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Finally, Evercore decreased their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.00.

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.