Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Average Rating of “Hold” from Brokerages

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.00.

A number of equities research analysts recently issued reports on FCPT shares. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Barclays increased their target price on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They set a “market perform” rating and a $27.00 price objective for the company. Finally, Raymond James Financial cut their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th.

Four Corners Property Trust Stock Up 1.1%

Four Corners Property Trust stock traded up $0.27 during midday trading on Friday, hitting $24.98. 619,164 shares of the stock were exchanged, compared to its average volume of 907,492. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.30 and a beta of 0.80. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $24.89 and its 200-day moving average price is $24.72. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $26.96.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The company had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, research analysts expect that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.1222 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. Four Corners Property Trust’s dividend payout ratio is presently 131.25%.

Insider Activity

In other news, CEO William H. Lenehan purchased 3,961 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the purchase, the chief executive officer directly owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 463 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Four Corners Property Trust by 829.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares during the period. First Horizon Corp raised its holdings in shares of Four Corners Property Trust by 147.4% during the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 709 shares during the last quarter. Huntington National Bank lifted its position in Four Corners Property Trust by 114.1% during the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 836 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Four Corners Property Trust in the fourth quarter worth approximately $36,000. Institutional investors 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.