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

Key Points

• Four Corners Property Trust has an average analyst rating of "Hold", with five analysts at hold and four at buy. The consensus 1-year price target is about $28.13.
• The company recently reported Q1 earnings of $0.28 EPS, missing estimates of $0.42, while revenue came in at $78.17 million, above expectations and up 9.4% year over year.
• FCPT also announced a monthly dividend of $0.1222 per share, implying an annualized yield of 5.9%, and CEO William H. Lenehan recently bought 3,961 shares in an insider purchase.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) have been given an average rating of "Hold" by the nine analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.1250.

A number of research analysts have recently commented on FCPT shares. Wells Fargo & Company increased their target price 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. Citigroup reiterated a "market outperform" rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Raymond James Financial dropped their target price on Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Tuesday, March 17th. Weiss Ratings downgraded Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Finally, Citizens Jmp raised Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a research report on Wednesday, March 25th.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan purchased 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the transaction, the chief executive officer directly owned 775,696 shares in the company, valued at $19,570,810.08. This represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

A number of institutional investors have recently bought and sold shares of FCPT. Northwestern Mutual Wealth Management Co. lifted its position in 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 worth $106,435,000 after buying an additional 4,593,018 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust in the fourth quarter worth $32,889,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Four Corners Property Trust by 1,071.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider's stock worth $30,780,000 after buying an additional 1,220,871 shares during the last quarter. Callodine Capital Management LP bought a new stake in Four Corners Property Trust in the third quarter worth $18,673,000. Finally, Millennium Management LLC lifted its stake in shares of Four Corners Property Trust by 478.4% during the 4th quarter. Millennium Management LLC now owns 744,787 shares of the financial services provider's stock worth $17,175,000 after acquiring an additional 616,012 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Stock Up 1.9%

NYSE FCPT opened at $24.95 on Wednesday. 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 $2.74 billion, a P/E ratio of 22.28 and a beta of 0.80. Four Corners Property Trust has a one year low of $22.78 and a one year high of $28.11. 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 - Get Free Report) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.14). The firm had revenue of $78.17 million for the quarter, compared to the consensus estimate of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, equities analysts predict that Four Corners Property Trust will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.1222 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.9%. Four Corners Property Trust's dividend payout ratio (DPR) is currently 131.25%.

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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