Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Average Rating of “Moderate Buy” from Brokerages

Four Corners Property Trust, Inc. (NYSE:FCPT) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $27.7778.

Several equities analysts have recently commented on the company. Barclays lowered their target price on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. BMO Capital Markets started coverage on Four Corners Property Trust in a research report on Friday, April 17th. They set a “market perform” rating and a $27.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. UBS Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Finally, Huntington started coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target for the company.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock traded down $0.87 during trading hours on Thursday, reaching $25.46. The company’s stock had a trading volume of 31,991 shares, compared to its average volume of 817,814. Four Corners Property Trust has a one year low of $22.78 and a one year high of $26.86. The company’s 50 day simple moving average is $25.14 and its 200 day simple moving average is $24.97. 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 stock has a market cap of $2.79 billion, a P/E ratio of 22.74 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. The business had revenue of $78.42 million during the quarter, compared to the consensus estimate of $79.02 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, analysts expect that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is presently 131.25%.

Insider Buying and Selling

In other news, CEO William H. Lenehan purchased 3,961 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the purchase, the chief executive officer owned 775,696 shares of the company’s stock, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Several large investors have recently added to or reduced their stakes in FCPT. Parallel Advisors LLC raised its stake 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 acquiring an additional 463 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Four Corners Property Trust by 829.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 995 shares in the last quarter. First Horizon Corp increased its holdings in shares of 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 purchasing an additional 709 shares during the period. Huntington National Bank raised its stake in shares of Four Corners Property Trust by 114.1% during the fourth 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 in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at about $36,000. 98.66% of the stock is currently 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.