Raymond James Financial Issues Pessimistic Forecast for Four Corners Property Trust (NYSE:FCPT) Stock Price

Four Corners Property Trust (NYSE:FCPT) had its target price cut by equities researchers at Raymond James Financial from $29.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price target would suggest a potential upside of 9.99% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Evercore decreased their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Finally, Wells Fargo & Company reduced their price target on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Four Corners Property Trust has a consensus rating of “Hold” and an average price target of $27.83.

Four Corners Property Trust Trading Down 0.9%

Shares of Four Corners Property Trust stock opened at $25.46 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a 50-day moving average of $24.98 and a 200-day moving average of $24.44. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $28.98. The stock has a market cap of $2.79 billion, a PE ratio of 23.14 and a beta of 0.82.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The business had revenue of $75.67 million for the quarter, compared to analyst estimates of $76.04 million. During the same period last year, the firm earned $0.44 earnings per share. Four Corners Property Trust’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Four Corners Property Trust will post 1.68 EPS for the current year.

Insider Buying and Selling

In other news, CEO William H. Lenehan bought 7,865 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $25.49 per share, with a total value of $200,478.85. Following the acquisition, the chief executive officer directly owned 765,845 shares in the company, valued at $19,521,389.05. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Four Corners Property Trust by 80.1% during the third 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 in the last quarter. Rye Brook Capital LLC boosted its holdings in shares of Four Corners Property Trust by 0.4% in 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 in the last quarter. Arizona State Retirement System boosted 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. Bank of Montreal Can increased its stake in shares of Four Corners Property Trust by 3.1% in the 2nd 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 during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Four Corners Property Trust by 1.1% in the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 568 shares during the last quarter. 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.