Brokerages Set Four Corners Property Trust, Inc. (NYSE:FCPT) Price Target at $28.13

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $28.1250.

FCPT has been the subject of a number of research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Citizens Jmp raised shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research note on Wednesday, March 25th. Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Barclays upped their target price on shares of 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. Finally, Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th.

Four Corners Property Trust Price Performance

FCPT opened at $25.25 on Wednesday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. Four Corners Property Trust has a 12 month low of $22.78 and a 12 month high of $27.90. The company has a fifty day simple moving average of $24.89 and a 200 day simple moving average of $24.52. The stock has a market cap of $2.77 billion, a P/E ratio of 22.54 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last released 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). Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm had revenue of $78.17 million during the quarter, compared to the consensus estimate of $73.34 million. During the same quarter in the prior year, the company earned $0.44 EPS. Four Corners Property Trust’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Four Corners Property Trust will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.8%. Four Corners Property Trust’s dividend payout ratio is presently 131.25%.

Insiders Place Their Bets

In related news, CEO William H. Lenehan bought 3,961 shares of Four Corners Property Trust stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $25.23 per share, with a total value of $99,936.03. Following the purchase, the chief executive officer owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in shares of 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 worth $25,000 after buying an additional 463 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of 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 worth $26,000 after buying an additional 995 shares during the last quarter. First Horizon Corp boosted its stake in shares of 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 worth $27,000 after buying an additional 709 shares during the last quarter. Huntington National Bank boosted its stake in shares of 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 worth $36,000 after buying an additional 836 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Four Corners Property Trust during the 4th quarter worth about $36,000. 98.66% of the stock is owned by institutional investors and hedge funds.

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.