Four Corners Property Trust, Inc. (NYSE:FCPT) Expected to Post Quarterly Sales of $33.24 Million

Brokerages expect Four Corners Property Trust, Inc. (NYSE:FCPT) to report $33.24 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Four Corners Property Trust’s earnings, with the lowest sales estimate coming in at $33.22 million and the highest estimate coming in at $33.26 million. Four Corners Property Trust posted sales of $30.91 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, August 2nd.

On average, analysts expect that Four Corners Property Trust will report full year sales of $33.24 million for the current year, with estimates ranging from $133.74 million to $134.19 million. For the next year, analysts expect that the company will post sales of $144.78 million per share, with estimates ranging from $142.46 million to $147.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Four Corners Property Trust.

A number of analysts recently weighed in on the stock. Canaccord Genuity assumed coverage on shares of Four Corners Property Trust in a research report on Tuesday, July 18th. They issued a “hold” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, July 12th. Finally, BidaskClub downgraded shares of Four Corners Property Trust from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th.

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Several hedge funds have recently made changes to their positions in the stock. Meadow Creek Investment Management LLC increased its stake in shares of Four Corners Property Trust by 33.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,424 shares of the financial services provider’s stock worth $101,000 after buying an additional 1,120 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Four Corners Property Trust during the first quarter worth $119,000. Glen Harbor Capital Management LLC increased its stake in shares of Four Corners Property Trust by 33.9% in the first quarter. Glen Harbor Capital Management LLC now owns 5,372 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,360 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Four Corners Property Trust during the first quarter worth $124,000. Finally, Creative Planning increased its stake in shares of Four Corners Property Trust by 3.9% in the first quarter. Creative Planning now owns 6,782 shares of the financial services provider’s stock worth $155,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Four Corners Property Trust (FCPT) traded down 0.24% during midday trading on Friday, hitting $25.32. 281,774 shares of the stock were exchanged. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 19.78 and a beta of 0.18. The company has a 50 day moving average price of $25.34 and a 200 day moving average price of $23.24. Four Corners Property Trust has a one year low of $16.71 and a one year high of $25.94.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $0.2425 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.83%. Four Corners Property Trust’s dividend payout ratio is 74.62%.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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