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

Wall Street analysts forecast that Four Corners Property Trust Inc (NYSE:FCPT) will report $40.47 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Four Corners Property Trust’s earnings, with the lowest sales estimate coming in at $40.13 million and the highest estimate coming in at $40.78 million. Four Corners Property Trust reported sales of $34.68 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, July 30th.

On average, analysts expect that Four Corners Property Trust will report full-year sales of $163.56 million for the current year, with estimates ranging from $162.17 million to $164.49 million. For the next year, analysts expect that the firm will report sales of $175.36 million, with estimates ranging from $174.47 million to $175.97 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Four Corners Property Trust.

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

FCPT has been the topic of a number of research analyst reports. Berenberg Bank set a €126.00 ($146.51) price objective on shares of Nemetschek and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Boenning Scattergood restated a “hold” rating on shares of First Commonwealth Financial in a report on Wednesday, April 24th. Janney Montgomery Scott initiated coverage on shares of Four Corners Property Trust in a report on Friday, June 21st. They set a “buy” rating and a $32.00 price objective on the stock. Zacks Investment Research lowered shares of General Finance from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barclays restated a “hold” rating on shares of Mettler-Toledo International in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.67.

Several institutional investors have recently added to or reduced their stakes in FCPT. Royal London Asset Management Ltd. acquired a new position in Four Corners Property Trust in the 1st quarter valued at approximately $26,000. NumerixS Investment Technologies Inc increased its position in Four Corners Property Trust by 50.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 400 shares during the period. Marshall Wace North America L.P. boosted its stake in shares of Four Corners Property Trust by 37.8% in the 1st quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 638 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new stake in shares of Four Corners Property Trust in the 1st quarter valued at $101,000. Finally, Raymond James Trust N.A. bought a new stake in shares of Four Corners Property Trust in the 1st quarter valued at $206,000. Institutional investors own 89.88% of the company’s stock.

FCPT stock traded down $0.45 during mid-day trading on Tuesday, reaching $26.85. 4,346 shares of the stock traded hands, compared to its average volume of 484,473. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.78 and a quick ratio of 5.78. Four Corners Property Trust has a 52 week low of $24.43 and a 52 week high of $29.85. The stock has a 50-day simple moving average of $28.04. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 19.09 and a beta of 0.18.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.287 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.15 annualized dividend and a dividend yield of 4.28%. Four Corners Property Trust’s dividend payout ratio is presently 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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