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

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

FCPT has been the topic of several analyst reports. UBS Group reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday. BMO Capital Markets assumed coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They set a “market perform” rating and a $27.00 price target for the company. Wells Fargo & Company raised their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Finally, Raymond James Financial reduced their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.71 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 22.07 and a beta of 0.80. The company’s 50 day moving average is $24.89 and its 200 day moving average is $24.72. 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 52-week low of $22.78 and a 52-week high of $26.96.

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

Four Corners Property Trust Dividend Announcement

The company 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 yield of 5.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is currently 131.25%.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 3,961 shares of Four Corners Property Trust stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, with a total value of $99,936.03. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in shares of 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 worth $25,000 after acquiring an additional 463 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Four Corners Property Trust by 829.2% during the fourth 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 in the last quarter. First Horizon Corp raised its position in shares of Four Corners Property Trust by 147.4% in the 4th 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. Kestra Advisory Services LLC purchased a new position in shares of Four Corners Property Trust in the 4th quarter valued at approximately $36,000. Finally, Huntington National Bank raised its position in shares of Four Corners Property Trust by 114.1% in the 4th 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 last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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.