William Lenehan Acquires 7,865 Shares of Four Corners Property Trust (NYSE:FCPT) Stock

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

Four Corners Property Trust Trading Up 0.6%

Shares of NYSE:FCPT opened at $25.66 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.82 billion, a PE ratio of 23.33 and a beta of 0.82. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $29.81. The firm has a fifty day moving average price of $24.62 and a 200 day moving average price of $24.45.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The company had revenue of $75.67 million for the quarter, compared to analyst estimates of $76.04 million. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.3665 dividend. This represents a $1.47 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, March 31st. Four Corners Property Trust’s payout ratio is 133.64%.

Institutional Trading of Four Corners Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCPT. Parallel Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 80.1% during the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares during the last quarter. Farther Finance Advisors LLC increased its position in Four Corners Property Trust by 829.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares during the period. First Horizon Corp increased its position in Four Corners Property Trust by 147.4% during the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 709 shares during the period. Huntington National Bank raised its stake in Four Corners Property Trust by 114.1% during the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 836 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Four Corners Property Trust during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Four Corners Property Trust

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.