Insider Buying: Four Corners Property Trust (NYSE:FCPT) CEO Purchases 6,468 Shares of Stock

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan acquired 6,468 shares of the stock in a transaction dated Friday, November 13th. The stock was bought at an average price of $23.19 per share, for a total transaction of $149,992.92. Following the completion of the purchase, the chief executive officer owned 796,325 shares in the company, valued at approximately $18,466,776.75. This trade represents a 0.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Four Corners Property Trust Price Performance

Shares of FCPT traded up $0.24 during mid-day trading on Friday, reaching $23.31. The company had a trading volume of 952,508 shares, compared to its average volume of 893,040. Four Corners Property Trust, Inc. has a twelve month low of $20.85 and a twelve month high of $26.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.12 and a quick ratio of 0.12. The company’s 50-day moving average is $22.57 and its 200-day moving average is $24.43. The company has a market capitalization of $2.56 billion, a P/E ratio of 21.39 and a beta of 0.77.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The company had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. During the same period in the prior year, the firm earned $0.45 EPS. Four Corners Property Trust’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.1265 per share. This represents a $1.52 annualized dividend and a yield of 6.5%. The ex-dividend date is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio is currently 139.45%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FCPT. Citizens Jmp reduced their target price on shares of Four Corners Property Trust from $28.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Monday, November 2nd. Barclays lowered their target price on shares of Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 20th. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, November 2nd. Wells Fargo & Company cut their price target on shares of Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Finally, Royal Bank Of Canada set a $26.00 price target on shares of Four Corners Property Trust in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average target price of $26.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Edgestream Partners L.P. bought a new stake in Four Corners Property Trust during the 3rd quarter worth approximately $6,878,000. Aberdeen Group plc raised its position in Four Corners Property Trust by 6.1% in the 3rd quarter. Aberdeen Group plc now owns 45,682 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 2,616 shares during the last quarter. Maryland State Retirement & Pension System raised its position in Four Corners Property Trust by 52.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 24,271 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 8,344 shares during the last quarter. Keybank National Association OH raised its position in Four Corners Property Trust by 2.6% in the 3rd quarter. Keybank National Association OH now owns 25,785 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 657 shares during the last quarter. Finally, Kestra Investment Management LLC boosted its stake in Four Corners Property Trust by 36.0% in the third quarter. Kestra Investment Management LLC now owns 15,629 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 4,133 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc. (NYSE: FCPT) is a real estate investment trust that acquires, owns and leases properties across the United States. Its portfolio is focused primarily on restaurants, with additional properties used for other retail and service businesses. FCPT generally leases its properties to operating companies under long-term net leases, which typically make tenants responsible for property expenses such as taxes, insurance and maintenance. The company was established as an independent public company in 2015 through a spin-off from Darden Restaurants, and its initial portfolio included restaurant properties.