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

Four Corners Property Trust, Inc. (NYSE:FCPT) has received an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $28.1250.

A number of equities research analysts recently issued reports on FCPT shares. 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 note on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Barclays raised their price target 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. Citizens Jmp raised 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 report on Wednesday, March 25th. Finally, BMO Capital Markets began coverage on Four Corners Property Trust in a report on Friday, April 17th. They issued a “market perform” rating and a $27.00 target price for the company.

Four Corners Property Trust Price Performance

Shares of FCPT stock opened at $24.95 on Wednesday. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $28.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $2.74 billion, a P/E ratio of 22.28 and a beta of 0.80. The stock has a 50 day moving average price of $24.80 and a 200 day moving average price of $24.50.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (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 for the quarter, compared to the consensus estimate of $73.34 million. During the same period in the prior year, the business posted $0.44 earnings per share. Four Corners Property Trust’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Four Corners Property Trust will post 1.75 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed 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. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is presently 131.25%.

Insider Buying and Selling at Four Corners Property Trust

In other news, CEO William H. Lenehan acquired 3,961 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the acquisition, the chief executive officer directly owned 775,696 shares of the company’s stock, valued at $19,570,810.08. The trade was a 0.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Institutional Trading of Four Corners Property Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. B&I Capital AG raised its holdings in shares of Four Corners Property Trust by 19.7% in the fourth quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock valued at $7,420,000 after acquiring an additional 53,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after acquiring an additional 4,593,018 shares in the last quarter. Lasalle Investment Management Securities LLC bought a new stake in shares of Four Corners Property Trust in the fourth quarter valued at about $32,889,000. Legal & General Group Plc raised its holdings in shares of Four Corners Property Trust by 21.5% in the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock valued at $16,895,000 after acquiring an additional 129,610 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Four Corners Property Trust by 18.9% in the third quarter. Public Sector Pension Investment Board now owns 407,427 shares of the financial services provider’s stock valued at $9,941,000 after acquiring an additional 64,906 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

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.