Four Corners Property Trust Inc. (FCPT)
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FCPT Announces Buyout of 19 Bloomin' Brands Restaurant Properties
Four Corners announces the acquisition of 19 Bloomin' Brands restaurant properties for $66.4 million.
Four Corners Property Trust, Inc. (FCPT) Q2 2024 Earnings Call Transcript
Four Corners Property Trust, Inc. (NYSE:FCPT ) Q2 2024 Earnings Call August 1, 2024 11:00 AM ET Company Participants Patrick Wernig - Manager, Investor Relations Bill Lenehan - Chief Executive Officer Josh Zhang - Director, Acquisitions Conference Call Participants Anthony Paolone - JPMorgan John Kilichowski - Wells Fargo Jim Kammert - Evercore RJ Milligan - Raymond James Mitch Germain - Citizens JMP Operator Good morning, all and thank you for joining us for the FCPT Second Quarter 2024 Financial Results Conference Call. My name is Carly, and I'll be the call coordinator for today.
Four Corners Property Trust (FCPT) Matches Q2 FFO Estimates
Four Corners Property Trust (FCPT) came out with quarterly funds from operations (FFO) of $0.43 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.42 per share a year ago.
Four Corners Property Trust: Staying Bullish On This High Yielding Retail-Centric REIT
Four Corners Property Trust's growth-by-acquisition strategy, geographic diversification, and balance through sector expansion position it for sustained growth, despite potential risks and headwinds. Four Corners Property Trust offers a dividend yield of 5.04% and has a portfolio of 1,137 properties across 149 brands in 47 states. Four Corners Property Trust outperforms its peers in valuation metrics and steady AFFO growth, making it an attractive income-driven investment option.
Four Corners Property Trust Continues To Diversify With Lower Investment Volume
Four Corners Property Trust has made six acquisitions since the last review, diversifying away from its high tenant concentration. Top-tier business metrics include high occupancy rate, decent rent escalators, and solid WALT. With higher cap rates and higher stock price, FCPT's investment spreads are likely to improve.
Four Corners (FCPT) Acquires MercyOne Outpatient Clinic for $3M
To boost its portfolio with real estate leased to strong credit operators, Four Corners (FCPT) announces another acquisition of MercyOne outpatient clinic property, shelling out $3 million.
Four Corners (FCPT) Buys Mercy Health Clinic Property for $3.8M
Four Corners (FCPT) bolsters its external growth strategy with its recent acquisition of a Mercy Health Clinic property for $3.8 million.
Four Corners Property Trust: Its Peers Have Better Value Proposition
Four Corners Property Trust is a relatively small, triple-net lease REIT that targets service-oriented properties. I consider FCPT stock to be overvalued when compared to its competitors. FCPT's strengths are either comparable or even stronger across its peer group.
Four Corners (FCPT) Acquires Portfolio for $20M, Boosts Growth
Four Corners (FCPT) moves ahead with smart acquisitions, mitigating risks and fueling steady growth in an ever-changing market.
Natixis Advisors L.P. Has $383,000 Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)
Natixis Advisors L.P. lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Free Report) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,174 shares of the financial services provider’s stock after buying an additional 2,370 shares during the period. Natixis Advisors L.P.’s holdings in Four Corners Property Trust were worth $383,000 at the end of the most recent quarter. Other hedge funds have also modified their holdings of the company. Strs Ohio increased its position in shares of Four Corners Property Trust by 2.8% in the third quarter. Strs Ohio now owns 18,300 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 500 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Four Corners Property Trust by 2.2% during the 4th quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 539 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Four Corners Property Trust by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 98,248 shares of the financial services provider’s stock valued at $2,484,000 after buying an additional 700 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Four Corners Property Trust by 3.9% in the 4th quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock valued at $573,000 after buying an additional 849 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Four Corners Property Trust by 183.5% in the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after buying an additional 888 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors. Four Corners Property Trust Price Performance Shares of NYSE FCPT opened at $25.05 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $27.60. The business’s 50 day moving average price is $23.95 and its two-hundred day moving average price is $23.93. The company has a market cap of $2.30 billion, a PE ratio of 23.41 and a beta of 1.01. Four Corners Property Trust Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.345 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.38 dividend on an annualized basis and a yield of 5.51%. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%. Wall Street Analyst Weigh In Separately, Wells Fargo & Company upped their price target on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Check Out Our Latest Stock Report on Four Corners Property Trust Four Corners Property Trust Profile (Free Report) FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Read More Five stocks we like better than Four Corners Property Trust Ride Out The Recession With These Dividend Kings MarketBeat Week in Review – 5/13 – 5/17 Why Invest in Biotech Stocks Take-Two Interactive Software Offers 2nd Chance for Investors 5 Top Rated Dividend Stocks to Consider Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
