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

Key Points

• Four Corners Property Trust currently has a consensus analyst rating of “Hold” from nine brokerages, with five holds and four buys, and an average 12-month price target of about $28.13.
• The stock traded down slightly to $25.08 and remains below its 52-week high of $27.40; the company also has a market cap of about $2.75 billion and a low beta of 0.80.
• In its latest quarterly report, FCPT missed EPS expectations at $0.28 versus $0.42 expected, though revenue came in above estimates at $78.17 million; the company also declared a monthly dividend yielding about 5.8%.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) has earned an average recommendation of "Hold" from the nine brokerages that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $28.1250.

Several equities research analysts have commented on FCPT shares. Citizens Jmp upgraded shares of Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price target on the stock in a research note on Wednesday, March 25th. BMO Capital Markets began coverage on Four Corners Property Trust in a research report on Friday, April 17th. They issued a "market perform" rating and a $27.00 target price for the company. Wells Fargo & Company increased 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 note on Monday, June 1st. Raymond James Financial dropped 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. Finally, Weiss Ratings upgraded Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th.

Four Corners Property Trust Trading Down 0.1%

FCPT traded down $0.03 on Friday, reaching $25.08. 750,455 shares of the company's stock were exchanged, compared to its average volume of 985,768. Four Corners Property Trust has a twelve month low of $22.78 and a twelve month high of $27.40. The company's 50 day moving average is $24.93 and its 200-day moving average is $24.66. 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 cap of $2.75 billion, a price-to-earnings ratio of 22.39 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.14). The business had revenue of $78.17 million for the quarter, compared to analysts' expectations of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.Four Corners Property Trust's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Equities analysts predict that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders 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) annualized dividend and a yield of 5.8%. Four Corners Property Trust's payout ratio is 130.36%.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan bought 3,961 shares of the company's 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 acquisition, the chief executive officer directly owned 775,696 shares of the company's stock, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings 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 purchasing an additional 463 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Four Corners Property Trust by 829.2% during 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. First Horizon Corp lifted its stake in 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in Four Corners Property Trust during the fourth quarter valued at about $36,000. Finally, Huntington National Bank boosted its holdings 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 buying an additional 836 shares during the period. Institutional investors and hedge funds 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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