Four Corners Property Trust
Market Cap
US$1.9b
Last Updated
2019/12/14 01:08 UTC
Data Sources
Company Financials +
Executive Summary
FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.
Rewards
Risk Analysis
Snowflake Analysis
Average dividend payer and fair value.
Similar Companies
Share Price & News
How has Four Corners Property Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FCPT has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-3.2%
FCPT
-3.0%
US REITs
0.6%
US Market
1 Year Return
-0.9%
FCPT
11.0%
US REITs
20.8%
US Market
Return vs Industry: FCPT underperformed the US REITs industry which returned 11% over the past year.
Return vs Market: FCPT underperformed the US Market which returned 20.8% over the past year.
Shareholder returns
| FCPT | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.2% | -3.0% | 0.6% |
| 30 Day | -1.9% | -2.2% | 2.5% |
| 90 Day | -4.0% | -1.7% | 4.9% |
| 1 Year | 3.3%-0.9% | 15.7%11.0% | 23.5%20.8% |
| 3 Year | 58.8%39.4% | 32.0%15.4% | 46.5%37.0% |
| 5 Year | n/a | 49.0%18.1% | 64.6%46.5% |
Price Volatility Vs. Market
How volatile is Four Corners Property Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall St
Are Insiders Selling Four Corners Property Trust, Inc. (NYSE:FCPT) Stock?4 weeks ago | Simply Wall St
Four Corners Property Trust, Inc. (NYSE:FCPT) Delivered A Better ROE Than Its Industry1 month ago | Simply Wall St
If You Had Bought Four Corners Property Trust (NYSE:FCPT) Shares Three Years Ago You'd Have Made 43%Valuation
Is Four Corners Property Trust undervalued compared to its fair value and its price relative to the market?
36.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FCPT ($27.13) is trading below our estimate of fair value ($42.67)
Significantly Below Fair Value: FCPT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FCPT is good value based on its PE Ratio (24.7x) compared to the REITs industry average (36.8x).
PE vs Market: FCPT is poor value based on its PE Ratio (24.7x) compared to the US market (18.6x).
Price to Earnings Growth Ratio
PEG Ratio: FCPT is poor value based on its PEG Ratio (3.7x)
Price to Book Ratio
PB vs Industry: FCPT is overvalued based on its PB Ratio (2.8x) compared to the US REITs industry average (1.9x).
Next Steps
Future Growth
How is Four Corners Property Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
6.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FCPT's forecast earnings growth (6.7% per year) is above the savings rate (1.7%).
Earnings vs Market: FCPT's earnings (6.7% per year) are forecast to grow slower than the US market (14.4% per year).
High Growth Earnings: FCPT's earnings are forecast to grow, but not significantly.
Revenue vs Market: FCPT's revenue (10.4% per year) is forecast to grow faster than the US market (7.4% per year).
High Growth Revenue: FCPT's revenue (10.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if FCPT's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Four Corners Property Trust performed over the past 5 years?
21.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FCPT has high quality earnings.
Growing Profit Margin: FCPT's current net profit margins (47.6%) are lower than last year (57%).
Past Earnings Growth Analysis
Earnings Trend: FCPT's earnings have grown significantly by 21.3% per year over the past 5 years.
Accelerating Growth: FCPT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FCPT had negative earnings growth (-5.8%) over the past year, making it difficult to compare to the REITs industry average (8.3%).
Return on Equity
High ROE: FCPT's Return on Equity (11.1%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Four Corners Property Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: FCPT has a high level of physical assets or inventory.
Debt Coverage by Assets: FCPT's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: FCPT's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if FCPT has a sufficient allowance for bad loans.
Low Risk Liabilities: FCPT reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if FCPT has an acceptable proportion of non-loan assets held.
Low Risk Deposits: FCPT has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if FCPT has an appropriate level of bad loans.
Next Steps
Dividend
What is Four Corners Property Trust's current dividend yield, its reliability and sustainability?
4.50%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Four Corners Property Trust before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: FCPT's dividend (4.5%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: FCPT's dividend (4.5%) is in the top 25% of dividend payers in the US market (3.71%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, FCPT has been paying a dividend for less than 10 years.
Growing Dividend: FCPT's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (79%), FCPT's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FCPT's dividends in 3 years are forecast to be thoroughly covered by earnings (1% payout ratio).
Next Steps
Management
What is the CEO of Four Corners Property Trust's salary, the management and board of directors tenure and is there insider trading?
4.1yrs
Average management tenure
CEO
Bill Lenehan (42yo)
4.3yrs
Tenure
US$2,721,963
Compensation
Mr. William Howard Lenehan IV, also known as Bill, has been the Chief Executive Officer of Four Corners Property Trust, Inc. since joining it on August 17, 2015 and has also been its President and Member o ...
CEO Compensation Analysis
Compensation vs Market: Bill's total compensation ($USD2.72M) is about average for companies of similar size in the US market ($USD3.87M).
Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.
Management Age and Tenure
4.1yrs
Average Tenure
48yo
Average Age
Experienced Management: FCPT's management team is considered experienced (4.1 years average tenure).
Board Age and Tenure
4.1yrs
Average Tenure
55yo
Average Age
Experienced Board: FCPT's board of directors are considered experienced (4.1 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Accounting Officer Chief Accounting Officer |
| Shares | 800 |
| Max Price | US$27.05 |
| Entity | Individual |
| Role | Chief Legal Officer General Counsel & Secretary |
| Shares | 6,000 |
| Max Price | US$27.41 |
| Entity | Individual |
| Role | Chief Financial Officer Chief Financial Officer |
| Shares | 3,000 |
| Max Price | US$27.41 |
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.2%.
Management Team
Gerry Morgan (56yo)
Chief Financial Officer
- Tenure: 4.9yrs
- Compensation: US$1.14m
Bill Lenehan (42yo)
President
- Tenure: 4.3yrs
- Compensation: US$2.72m
Pat Wernig
Vice President of Acquisitions
- Tenure: 3.9yrs
James Brat (48yo)
General Counsel & Secretary
- Tenure: 4.9yrs
- Compensation: US$800.20k
Niccole Stewart
Chief Accounting Officer
- Tenure: 1.9yrs
Josh Zhang
Vice President of Acquisitions
- Tenure: 0yrs
Carol Dilts
Vice President of Operations-Kerrow Restaurants
- Tenure: 0yrs
Carlos Mosqueda
Senior Manager of Finance & Accounting
- Tenure: 0yrs
Evan Dunn
Associate General Counsel
- Tenure: 2yrs
Board Members
Doug Hansen (61yo)
Independent Director
- Tenure: 4.1yrs
- Compensation: US$122.50k
Paul Szurek (58yo)
Independent Director
- Tenure: 4.9yrs
- Compensation: US$115.00k
John Moody (70yo)
Chairman of the Board
- Tenure: 4.1yrs
- Compensation: US$175.00k
Marran J. Ogilvie (51yo)
Independent Director
- Tenure: 4.1yrs
- Compensation: US$133.75k
Bill Lenehan (42yo)
President
- Tenure: 4.3yrs
- Compensation: US$2.72m
Eric Hirschhorn (37yo)
Independent Director
- Tenure: 2.1yrs
- Compensation: US$115.00k
Charles Jemley (55yo)
Independent Director
- Tenure: 2.5yrs
- Compensation: US$119.20k
Company Information
Four Corners Property Trust, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Four Corners Property Trust, Inc.
- Ticker: FCPT
- Exchange: NYSE
- Founded:
- Industry: Specialized REITs
- Sector: Real Estate
- Implied Market Cap: US$1.862b
- Market Cap: US$1.870b
- Shares outstanding: 69.21m
- Website: https://www.fcpt.com
Number of Employees
Location
- Four Corners Property Trust, Inc.
- 591 Redwood Highway
- Suite 1150
- Mill Valley
- California
- 94941
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FCPT | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Oct 2015 |
Biography
FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease for us ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/14 01:08 |
| End of Day Share Price | 2019/12/13 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.