Zacks: Analysts Anticipate Four Corners Property Trust Inc (NYSE:FCPT) Will Post Quarterly Sales of $40.80 Million

Equities analysts expect Four Corners Property Trust Inc (NYSE:FCPT) to post sales of $40.80 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Four Corners Property Trust’s earnings, with the lowest sales estimate coming in at $40.26 million and the highest estimate coming in at $41.74 million. Four Corners Property Trust reported sales of $36.12 million during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The firm is scheduled to report its next earnings report on Monday, November 4th.

On average, analysts expect that Four Corners Property Trust will report full year sales of $161.96 million for the current year, with estimates ranging from $160.63 million to $164.49 million. For the next year, analysts expect that the company will post sales of $174.21 million, with estimates ranging from $172.70 million to $175.64 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Four Corners Property Trust.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.10). The firm had revenue of $39.57 million during the quarter, compared to analyst estimates of $40.64 million. Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share.

A number of analysts have recently issued reports on the company. Boenning Scattergood reaffirmed a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a research note on Wednesday, April 24th. ValuEngine lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Janney Montgomery Scott assumed coverage on Four Corners Property Trust in a research note on Friday, June 21st. They issued a “buy” rating and a $32.00 price target on the stock. Berenberg Bank raised Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays assumed coverage on Four Corners Property Trust in a research note on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $31.40.

Shares of NYSE:FCPT traded up $0.33 during trading on Thursday, reaching $27.84. The stock had a trading volume of 391,519 shares, compared to its average volume of 388,373. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. The business has a fifty day moving average price of $27.39 and a 200-day moving average price of $28.22. The stock has a market cap of $1.89 billion, a PE ratio of 19.74 and a beta of 0.18. Four Corners Property Trust has a 1-year low of $24.58 and a 1-year high of $29.85.

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Four Corners Property Trust by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 962,170 shares of the financial services provider’s stock worth $25,209,000 after acquiring an additional 27,864 shares in the last quarter. Bank of America Corp DE grew its position in Four Corners Property Trust by 11.1% during the fourth quarter. Bank of America Corp DE now owns 399,344 shares of the financial services provider’s stock valued at $10,463,000 after buying an additional 39,857 shares during the period. Amalgamated Bank bought a new position in Four Corners Property Trust during the fourth quarter valued at about $262,000. FMR LLC grew its position in Four Corners Property Trust by 9.1% during the fourth 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 during the period. Finally, Norges Bank bought a new position in Four Corners Property Trust during the fourth quarter valued at about $22,547,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Four Corners Property Trust Company Profile

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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