Four Corners Property Trust, Inc. (NYSE:FCPT) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts rate FCPT a “Hold.” The stock has a consensus hold rating from nine brokerages, with six holds and three buys, and the average 12-month price target is $28.00.
• Quarterly earnings missed expectations. Four Corners Property Trust reported $0.28 EPS versus the expected $0.42, though revenue of $78.17 million beat estimates and rose 9.4% year over year.
• The company continues paying a high dividend. FCPT paid a quarterly dividend of $0.3665, implying an annualized yield of about 6.0%, though the payout ratio is elevated at 131.25%.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) have received a consensus rating of "Hold" from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $28.00.

A number of equities research analysts recently issued reports on FCPT shares. Raymond James Financial lowered their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 17th. Weiss Ratings restated a "hold (c)" rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Citizens Jmp upgraded Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research note on Wednesday, March 25th. Barclays boosted their price objective on Four Corners Property Trust from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 21st. Finally, BMO Capital Markets started coverage on Four Corners Property Trust in a research note on Friday, April 17th. They issued a "market perform" rating and a $27.00 price objective on the stock.

Insider Transactions at Four Corners Property Trust

In other news, CEO William H. Lenehan acquired 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the purchase, the chief executive officer owned 775,696 shares of the company's stock, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its position in shares of Four Corners Property Trust by 80.1% during the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock valued at $25,000 after buying an additional 463 shares during the period. Farther Finance Advisors LLC increased its position 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 valued at $26,000 after buying an additional 995 shares during the period. First Horizon Corp increased its position 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 buying an additional 709 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at about $36,000. Finally, Huntington National Bank increased its position 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 buying an additional 836 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $24.48 on Friday. The company's 50-day moving average is $24.89 and its 200 day moving average is $24.40. 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 company has a market capitalization of $2.69 billion, a P/E ratio of 21.86 and a beta of 0.83. Four Corners Property Trust has a fifty-two week low of $22.78 and a fifty-two week high of $28.11.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share 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 company had revenue of $78.17 million during the quarter, compared to analysts' expectations of $73.34 million. During the same period last year, the firm posted $0.44 earnings per share. Four Corners Property Trust's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast 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 quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.3665 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Tuesday, March 31st. Four Corners Property Trust's payout ratio is currently 131.25%.

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.

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