Four Corners Property Trust (NYSE:FCPT) Share Price Passes Below 50-Day Moving Average – What’s Next?

Four Corners Property Trust, Inc. (NYSE:FCPT)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $24.95 and traded as low as $24.18. Four Corners Property Trust shares last traded at $24.4580, with a volume of 668,791 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on FCPT. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Wednesday, March 25th. BMO Capital Markets began coverage on Four Corners Property Trust in a report on Friday, April 17th. They set a “market perform” rating and a $27.00 price objective on the stock. Wells Fargo & Company raised their price objective on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Finally, Raymond James Financial reduced their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.13.

Four Corners Property Trust Stock Down 1.8%

The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 21.84 and a beta of 0.80. The firm’s 50 day moving average price is $24.95 and its two-hundred day moving average price is $24.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The firm had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. Four Corners Property Trust’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.1222 dividend. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio is 131.25%.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 3,961 shares of Four Corners Property Trust stock in a transaction on Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, with a total value of $99,936.03. Following the completion of the acquisition, the chief executive officer directly owned 775,696 shares of the company’s stock, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Four Corners Property Trust

A number of institutional investors have recently modified their holdings of FCPT. B&I Capital AG grew its holdings in Four Corners Property Trust by 19.7% in the fourth quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock valued at $7,420,000 after purchasing an additional 53,000 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after purchasing an additional 4,593,018 shares during the period. Lasalle Investment Management Securities LLC purchased a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $32,889,000. UBS Group AG grew its holdings in Four Corners Property Trust by 37.5% in the fourth quarter. UBS Group AG now owns 179,900 shares of the financial services provider’s stock valued at $4,148,000 after purchasing an additional 49,060 shares during the period. Finally, Legal & General Group Plc grew its holdings in Four Corners Property Trust by 21.5% in the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock valued at $16,895,000 after purchasing an additional 129,610 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

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.