Four Corners Property Trust's (FCPT) Market Outperform Rating Reiterated at Citizens Jmp

Key Points

• Citizens JMP reiterated its “market outperform” rating on Four Corners Property Trust, with a $28 price target implying approximately 9.7% upside from the current $25.52 share price.
• Analyst sentiment remains favorable, with five Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $27.80.
• FCPT reported quarterly EPS of $0.45, exceeding estimates of $0.29, while revenue rose 7.7% year over year to $78.42 million; institutional investors own 98.66% of the stock.

Four Corners Property Trust (NYSE:FCPT - Get Free Report)'s stock had its "market outperform" rating reissued by Citizens Jmp in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $28.00 price objective on the financial services provider's stock. Citizens Jmp's price objective indicates a potential upside of 9.73% from the company's current price.

A number of other research firms have also weighed in on FCPT. Weiss Ratings lowered Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. UBS Group reissued a "buy" rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Jefferies Financial Group set a $28.00 price target on shares of Four Corners Property Trust in a research report on Tuesday. Huntington initiated coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They set an "outperform" rating and a $27.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.80.

Four Corners Property Trust Trading Up 1.1%

Shares of FCPT stock opened at $25.52 on Tuesday. Four Corners Property Trust has a fifty-two week low of $22.78 and a fifty-two week high of $26.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a 50 day simple moving average of $25.26 and a two-hundred day simple moving average of $25.06. The company has a market cap of $2.80 billion, a P/E ratio of 22.99 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. 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 previous year, the company earned $0.44 EPS. Four Corners Property Trust's quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts forecast that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted 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 acquiring an additional 463 shares during the last quarter. Farther Finance Advisors LLC grew 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 worth $26,000 after purchasing an additional 995 shares in the last quarter. Huntington National Bank increased its position in shares of 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 purchasing an additional 836 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Four Corners Property Trust in the fourth quarter worth approximately $36,000. Finally, Bessemer Group Inc. raised its stake in Four Corners Property Trust by 326.1% in the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 1,262 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source