Four Corners Property Trust (NYSE:FCPT) Now Covered by Huntington

Key Points

• Huntington initiated coverage on Four Corners Property Trust with an outperform rating and a $27 price target, implying about 7.3% upside from the prior close.
• The stock has a mixed analyst view, with several firms adjusting ratings and targets; MarketBeat shows a consensus rating of Moderate Buy and an average price target of $27.89.
• FCPT recently missed earnings estimates with Q1 EPS of $0.28 versus $0.42 expected, though revenue came in above forecasts at $78.17 million and rose 9.4% year over year.

Equities researchers at Huntington assumed coverage on shares of Four Corners Property Trust (NYSE:FCPT - Get Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set an "outperform" rating and a $27.00 price target on the financial services provider's stock. Huntington's price target suggests a potential upside of 7.27% from the stock's previous close.

Other research analysts have also issued reports about the stock. Citizens Jmp raised 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 started coverage on Four Corners Property Trust in a research note on Friday, April 17th. They set a "market perform" rating and a $27.00 price objective for the company. Weiss Ratings raised Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Raymond James Financial lowered their price target 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, Wells Fargo & Company boosted their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Four Corners Property Trust presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.89.

Four Corners Property Trust Trading Down 0.1%

Shares of NYSE:FCPT opened at $25.17 on Wednesday. Four Corners Property Trust has a 1 year low of $22.78 and a 1 year high of $26.96. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 22.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15. The business's 50 day moving average price is $24.88 and its 200-day moving average price is $24.75.

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 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The company had revenue of $78.17 million during 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 revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, equities research analysts forecast that Four Corners Property Trust will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William H. Lenehan bought 3,961 shares of the stock in a transaction dated 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 in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Four Corners Property Trust

Institutional investors have recently added to or reduced their stakes in the stock. B&I Capital AG lifted its position in Four Corners Property Trust by 19.7% in the fourth quarter. B&I Capital AG now owns 321,787 shares of the financial services provider's stock valued at $7,420,000 after buying an additional 53,000 shares during the last quarter. Lasalle Investment Management Securities LLC acquired a new stake in shares of Four Corners Property Trust during the fourth quarter valued at about $32,889,000. Northwestern Mutual Wealth Management Co. increased its position 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 valued at $106,435,000 after acquiring an additional 4,593,018 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Four Corners Property Trust by 21.5% in the 4th quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider's stock valued at $16,895,000 after acquiring an additional 129,610 shares during the period. Finally, UBS Group AG raised its stake in shares of Four Corners Property Trust by 37.5% in the 4th quarter. UBS Group AG now owns 179,900 shares of the financial services provider's stock valued at $4,148,000 after acquiring an additional 49,060 shares during the period. Hedge funds and other institutional investors own 98.66% of the company's stock.

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.

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.