Four Corners Property Trust (NYSE:FCPT) Sets New 1-Year Low – What’s Next?

Four Corners Property Trust, Inc. (NYSE:FCPT) reached a new 52-week low on Friday . The stock traded as low as $22.78 and last traded at $23.1860, with a volume of 67922 shares trading hands. The stock had previously closed at $23.06.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of research reports. Evercore ISI lowered their target price on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Robert W. Baird set a $29.00 price target on shares of Four Corners Property Trust in a research note on Wednesday, October 29th. Barclays lowered their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Wells Fargo & Company reduced their target price on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Hold” and an average target price of $28.00.

Four Corners Property Trust Stock Performance

The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $23.65 and a 200 day moving average price of $25.01. The stock has a market cap of $2.47 billion, a P/E ratio of 21.34 and a beta of 0.85.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $74.15 million during the quarter, compared to analyst estimates of $71.86 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.Four Corners Property Trust’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. As a group, sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.3665 dividend. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.47 annualized dividend and a yield of 6.3%. Four Corners Property Trust’s dividend payout ratio is presently 134.86%.

Insider Activity at Four Corners Property Trust

In related news, Director Douglas B. Hansen bought 1,984 shares of Four Corners Property Trust stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $23.64 per share, with a total value of $46,901.76. Following the completion of the transaction, the director owned 78,247 shares in the company, valued at $1,849,759.08. The trade was a 2.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Inspire Investing LLC raised its holdings in shares of Four Corners Property Trust by 2.2% in the second quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 383 shares in the last quarter. Parallel Advisors LLC increased its position in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares during the period. Rye Brook Capital LLC increased its position in Four Corners Property Trust by 0.4% during the 3rd quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock valued at $3,004,000 after purchasing an additional 500 shares during the period. Arizona State Retirement System raised its holdings in shares of Four Corners Property Trust by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 554 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Four Corners Property Trust by 3.1% during the second quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 568 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

About Four Corners Property Trust

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.