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

Key Points

• Analyst sentiment is moderately positive: Five of 10 analysts rate FCPT a buy and five recommend holding the stock, with an average 12-month price target of $27.78.
• FCPT reported quarterly earnings of $0.45 per share, surpassing the $0.29 consensus estimate, while revenue increased 7.7% year over year to $78.42 million.
• The company declared a monthly dividend of $0.1222 per share, equivalent to an annualized yield of approximately 5.8%; institutional investors own 98.66% of outstanding shares.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten research firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $27.7778.

FCPT has been the subject of a number of recent research reports. UBS Group reiterated a "buy" rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Citigroup reaffirmed a "market outperform" rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Barclays decreased their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Huntington initiated coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 target price on the stock. Finally, Weiss Ratings downgraded shares of Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th.

Four Corners Property Trust Trading Up 1.0%

FCPT stock traded up $0.25 on Monday, reaching $25.48. The company's stock had a trading volume of 27,650 shares, compared to its average volume of 803,357. The business has a fifty day simple moving average of $25.25 and a two-hundred day simple moving average of $25.05. Four Corners Property Trust has a 12-month low of $22.78 and a 12-month 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 firm has a market cap of $2.80 billion, a PE 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 for the quarter, beating the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to the consensus estimate of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.Four Corners Property Trust's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. As a group, research analysts forecast that Four Corners Property Trust will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust's payout ratio is presently 131.53%.

Hedge Funds Weigh In On Four Corners Property Trust

A number of institutional investors have recently bought and sold shares of FCPT. BlackRock Inc. purchased a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at approximately $490,406,000. Vanguard Group Inc. lifted its position in shares of Four Corners Property Trust by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider's stock worth $278,043,000 after purchasing an additional 344,852 shares during the last quarter. State Street Corp lifted its position in shares of Four Corners Property Trust by 2.7% during the 4th quarter. State Street Corp now owns 6,001,247 shares of the financial services provider's stock worth $140,547,000 after purchasing an additional 155,966 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Four Corners Property Trust by 20,354.6% during 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 purchasing an additional 4,593,018 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Four Corners Property Trust by 8.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider's stock worth $98,031,000 after purchasing an additional 349,048 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

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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