NYSE:FCPT

Stock Analysis Report

Four Corners Property Trust

Executive Summary

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.

Snowflake

Fundamentals

Average dividend payer with acceptable track record.


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


Market Performance


7 Day Return

0.2%

NYSE:FCPT

1.6%

US REITs

2.9%

US Market


1 Year Return

4.5%

NYSE:FCPT

9.9%

US REITs

0.2%

US Market

FCPT underperformed the REITs industry which returned 9.1% over the past year.

FCPT outperformed the Market in United States of America which returned -0.7% over the past year.


Share holder returns

FCPTIndustryMarket
7 Day0.2%1.6%2.9%
30 Day3.3%3.8%-2.3%
90 Day-4.4%3.3%3.1%
1 Year9.1%4.5%14.9%9.9%2.4%0.2%
3 Year52.3%33.6%25.0%8.7%41.7%32.4%
5 Yearn/a59.2%25.3%55.1%37.9%

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

Valuation

Is Four Corners Property Trust undervalued based on future cash flows and its price relative to the stock market?

26%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Four Corners Property Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).

Four Corners Property Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Four Corners Property Trust is good value based on earnings compared to the US REITs industry average.

Four Corners Property Trust is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

Four Corners Property Trust is poor value based on expected growth next year.


Price Based on Value of Assets

Four Corners Property Trust is overvalued based on assets compared to the US REITs industry average.


Next Steps

Future Growth

How is Four Corners Property Trust expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

7.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Four Corners Property Trust's revenue is expected to grow by 9.7% yearly, however this is not considered high growth (20% yearly).

Four Corners Property Trust's earnings are expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).

Four Corners Property Trust's revenue growth is expected to exceed the United States of America market average.

Four Corners Property Trust's earnings growth is positive but not above the United States of America market average.

Four Corners Property Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Four Corners Property Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Four Corners Property Trust performed over the past 5 years?

24.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Four Corners Property Trust has delivered over 20% year on year earnings growth in the past 5 years.

Four Corners Property Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Four Corners Property Trust's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.


Return on Equity

Four Corners Property Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Four Corners Property Trust used its assets more efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

Four Corners Property Trust has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Four Corners Property Trust's financial position?


Financial Position Analysis

Four Corners Property Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Four Corners Property Trust's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Four Corners Property Trust's level of debt (91.1%) compared to net worth is high (greater than 40%).

Unable to establish if Four Corners Property Trust's debt level has increased without past 5-year debt data.

Debt is not well covered by operating cash flow (15.1%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 4x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.1x debt.


Next Steps

Dividend

What is Four Corners Property Trust's current dividend yield, its reliability and sustainability?

4.42%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Four Corners Property Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Four Corners Property Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.85%).

Whilst dividend payments have been stable, Four Corners Property Trust has been paying a dividend for less than 10 years.

Dividend payments have increased, but Four Corners Property Trust only paid a dividend in the past 3 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.3x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be thoroughly covered by earnings (94.9x coverage).


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?

3.8yrs

Average management tenure


CEO

Bill Lenehan (42yo)

4.0yrs

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

Bill's remuneration is lower than average for companies of similar size in United States of America.

Bill's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.8yrs

Average Tenure

48yo

Average Age

The tenure for the Four Corners Property Trust management team is about average.


Board Age and Tenure

3.8yrs

Average Tenure

55yo

Average Age

The tenure for the Four Corners Property Trust board of directors is about average.


Insider Trading

Four Corners Property Trust individual insiders have only sold shares in the past 3 months, but not in substantial volumes.


Recent Insider Transactions

SellUS$21,64008 Aug 19
Niccole Stewart
EntityIndividual
Role
Chief Accounting Officer
Chief Accounting Officer
Shares800
Max PriceUS$27.05
SellUS$82,23021 Feb 19
Gerald Morgan
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares3,000
Max PriceUS$27.41
SellUS$164,46021 Feb 19
James Brat
EntityIndividual
Role
Chief Legal Officer
General Counsel & Secretary
Shares6,000
Max PriceUS$27.41
SellUS$91,90213 Nov 18
Gerald Morgan
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares3,400
Max PriceUS$27.03
SellUS$13,41602 Nov 18
Niccole Stewart
EntityIndividual
Role
Chief Accounting Officer
Chief Accounting Officer
Shares518
Max PriceUS$25.90

Ownership Breakdown


Management Team

  • Gerry Morgan (56yo)

    Chief Financial Officer

    • Tenure: 4.6yrs
    • Compensation: US$1.14m
  • Bill Lenehan (42yo)

    President

    • Tenure: 4.0yrs
    • Compensation: US$2.72m
  • Pat Wernig

    Vice President of Acquisitions

    • Tenure: 3.6yrs
  • James Brat (48yo)

    General Counsel & Secretary

    • Tenure: 4.6yrs
    • Compensation: US$800.20k
  • Niccole Stewart

    Chief Accounting Officer

    • Tenure: 1.6yrs
  • Josh Zhang

    Vice President of Acquisitions

    • Tenure: 0.0yrs
  • Carol Dilts

    Vice President of Operations-Kerrow Restaurants

    • Tenure: 0.0yrs
  • Carlos Mosqueda

    Senior Manager of Finance & Accounting

    • Tenure: 0.0yrs
  • Evan Dunn

    Associate General Counsel

    • Tenure: 1.7yrs

Board Members

  • Doug Hansen (61yo)

    Director

    • Tenure: 3.8yrs
    • Compensation: US$122.50k
  • Paul Szurek (58yo)

    Director

    • Tenure: 4.6yrs
    • Compensation: US$115.00k
  • John Moody (70yo)

    Chairman of the Board

    • Tenure: 3.8yrs
    • Compensation: US$175.00k
  • Marran J. Ogilvie (51yo)

    Director

    • Tenure: 3.8yrs
    • Compensation: US$133.75k
  • Bill Lenehan (42yo)

    President

    • Tenure: 4.0yrs
    • Compensation: US$2.72m
  • Eric Hirschhorn (37yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: US$115.00k
  • Charles Jemley (55yo)

    Director

    • Tenure: 2.2yrs
    • 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$1.909b
  • Market Cap: US$1.909b
  • Shares outstanding: 68.71m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FCPTNYSE (New York Stock Exchange)YesCommon StockUSUSDOct 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/22 00:43
End of Day Share Price2019/08/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.