Brokerages Anticipate Four Corners Property Trust Inc (NYSE:FCPT) Will Announce Quarterly Sales of $40.47 Million

Wall Street brokerages forecast that Four Corners Property Trust Inc (NYSE:FCPT) will announce sales of $40.47 million for the current quarter, Zacks reports. Three analysts have issued estimates for Four Corners Property Trust’s earnings, with the highest sales estimate coming in at $40.78 million and the lowest estimate coming in at $40.13 million. Four Corners Property Trust posted sales of $34.68 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The firm is expected to report its next earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that Four Corners Property Trust will report full year sales of $163.56 million for the current financial year, with estimates ranging from $162.17 million to $164.49 million. For the next fiscal year, analysts expect that the company will post sales of $175.36 million, with estimates ranging from $174.47 million to $175.97 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Four Corners Property Trust.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.10). The firm had revenue of $39.60 million for the quarter, compared to the consensus estimate of $39.84 million. Four Corners Property Trust had a net margin of 56.35% and a return on equity of 12.63%. Four Corners Property Trust’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS.

Several brokerages have recently weighed in on FCPT. Zacks Investment Research cut shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Boenning Scattergood reiterated a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a research note on Wednesday, April 24th. Berenberg Bank began coverage on shares of Four Corners Property Trust in a research note on Tuesday, April 23rd. They set a “hold” rating and a $36.00 price target on the stock. Barclays began coverage on shares of Four Corners Property Trust in a research note on Wednesday, May 15th. They set an “equal weight” rating and a $29.00 price target on the stock. Finally, Janney Montgomery Scott began coverage on shares of Four Corners Property Trust in a research note on Friday, June 21st. They set a “buy” rating and a $32.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Four Corners Property Trust currently has an average rating of “Hold” and an average price target of $30.67.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCPT. Norges Bank purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at $22,547,000. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at $20,596,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at $26,000. FMR LLC lifted its stake in shares of Four Corners Property Trust by 9.1% during the 4th quarter. FMR LLC now owns 5,084,348 shares of the financial services provider’s stock valued at $133,209,000 after buying an additional 423,932 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Four Corners Property Trust by 2.5% during the 4th quarter. BlackRock Inc. now owns 13,091,181 shares of the financial services provider’s stock valued at $342,988,000 after buying an additional 320,071 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

Shares of FCPT traded up $0.17 on Friday, hitting $27.33. 1,773,773 shares of the stock traded hands, compared to its average volume of 566,522. The stock has a market cap of $1.87 billion, a P/E ratio of 19.38 and a beta of 0.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.78 and a quick ratio of 5.78. The firm has a 50 day simple moving average of $28.58. Four Corners Property Trust has a one year low of $24.21 and a one year high of $29.85.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Thursday, June 27th. Four Corners Property Trust’s dividend payout ratio (DPR) 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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