Four Corners Property Trust (NYSE:FCPT) Price Target Raised to $26.00

Four Corners Property Trust (NYSE:FCPT) had its target price lifted by stock analysts at Wells Fargo & Company from $25.00 to $26.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 6.06% from the company’s current price.

A number of other equities analysts also recently weighed in on FCPT. Barclays boosted their target price on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research note on Wednesday, March 25th. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday. Finally, BMO Capital Markets started coverage on Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.13.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded down $0.39 during midday trading on Monday, reaching $24.52. The company’s stock had a trading volume of 118,805 shares, compared to its average volume of 800,551. Four Corners Property Trust has a 12-month low of $22.78 and a 12-month high of $28.11. The firm has a 50 day moving average price of $24.77 and a 200-day moving average price of $24.48. The stock has a market capitalization of $2.69 billion, a P/E ratio of 21.88 and a beta of 0.80. 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 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). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $73.34 million. During the same quarter in the previous year, the firm earned $0.44 EPS. Four Corners Property Trust’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that Four Corners Property Trust will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO William H. Lenehan acquired 7,865 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the purchase, the chief executive officer owned 765,845 shares in the company, valued at approximately $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings 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 acquiring an additional 463 shares during the period. Farther Finance Advisors LLC raised its holdings in Four Corners Property Trust by 829.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 995 shares during the period. First Horizon Corp raised its holdings in Four Corners Property Trust by 147.4% during the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 709 shares during the period. Kestra Advisory Services LLC bought a new stake in Four Corners Property Trust during the 4th quarter valued at $36,000. Finally, Huntington National Bank raised its holdings in Four Corners Property Trust by 114.1% during the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 836 shares during the period. Hedge funds and other 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.