Four Corners Property Trust (NYSE:FCPT) Coverage Initiated by Analysts at Huntington

Huntington assumed coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $27.00 price objective on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Barclays boosted their target price on Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. UBS Group restated a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Wells Fargo & Company raised their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.89.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $25.27 on Wednesday. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $26.96. 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 firm’s fifty day moving average is $24.88 and its 200 day moving average is $24.77. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 22.56 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last issued 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 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 period in the previous year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Wednesday, September 30th will be issued a $0.1222 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Four Corners Property Trust’s payout ratio is presently 131.25%.

Insider Activity

In other news, CEO William H. Lenehan acquired 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, with a total value of $99,936.03. Following the completion of the purchase, the chief executive officer directly owned 775,696 shares in the company, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in FCPT. Parallel Advisors LLC increased its position 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 purchasing an additional 463 shares during the period. Farther Finance Advisors LLC increased its holdings in 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 buying an additional 995 shares during the period. First Horizon Corp increased its holdings in 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 buying an additional 709 shares during the period. Kestra Advisory Services LLC bought a new position in Four Corners Property Trust in the fourth quarter worth approximately $36,000. Finally, Huntington National Bank raised its stake in Four Corners Property Trust by 114.1% in the fourth 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 in the last quarter. 98.66% of the stock is currently owned by 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.