Barclays Forecasts Strong Price Appreciation for Four Corners Property Trust (NYSE:FCPT) Stock

Key Points

• Barclays raised its price target for Four Corners Property Trust to $30 from $29 while maintaining an “equal weight” rating, implying 20.39% upside from the prior close.
• Analyst sentiment is generally favorable, with a consensus “Moderate Buy” rating and an average price target of $27.90; five analysts rate the stock Buy and five rate it Hold.
• FCPT beat quarterly EPS estimates, reporting $0.45 versus the $0.29 consensus, while revenue rose 7.7% year over year to $78.42 million. Institutional investors own 98.66% of the company.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) had its price objective raised by equities researchers at Barclays from $29.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective points to a potential upside of 20.39% from the stock's previous close.

Several other analysts also recently commented on FCPT. Citigroup reiterated a "market outperform" rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Citizens Jmp reiterated a "market outperform" rating and issued a $28.00 price target on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Weiss Ratings downgraded Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Finally, UBS Group reiterated a "buy" rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.90.

Four Corners Property Trust Trading Up 0.8%

NYSE:FCPT opened at $24.92 on Friday. 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 $25.32 and its 200 day simple moving average is $25.06. The firm has a market capitalization of $2.74 billion, a P/E ratio of 22.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The company had revenue of $78.42 million for the quarter, compared to the consensus estimate of $79.02 million. During the same quarter in the prior year, the business posted $0.44 EPS. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position 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 valued at $25,000 after purchasing an additional 463 shares during the period. Farther Finance Advisors LLC boosted its holdings in Four Corners Property Trust by 829.2% in 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 period. Kestra Advisory Services LLC purchased a new stake in Four Corners Property Trust in the 4th quarter worth $36,000. Huntington National Bank increased its stake in 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 worth $36,000 after buying an additional 836 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Four Corners Property Trust by 326.1% during the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 1,262 shares during the period. Institutional investors own 98.66% of the company's stock.

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.

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