Four Corners Property Trust (NYSE:FCPT) Price Target Raised to $26.00

Key Points

• Wells Fargo raised its price target on Four Corners Property Trust to $26 from $25, while keeping an equal weight rating. The new target implies about 6.06% upside from the current share price.
• FCPT shares were down 1.5% on Monday to $24.52, trading below both its 50-day and 200-day moving averages. The stock has a market cap of about $2.69 billion and a beta of 0.80.
• The company recently reported Q1 earnings of $0.28 per share, missing analyst expectations, though revenue came in at $78.17 million and rose 9.4% year over year. CEO William H. Lenehan also bought 3,961 shares in early May, signaling insider confidence.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) had its price target lifted by stock analysts at Wells Fargo & Company from $25.00 to $26.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective indicates a potential upside of 6.06% from the company's current price.

Other analysts have also issued reports about the company. Raymond James Financial decreased their target price on Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating for the company in a research report on Tuesday, March 17th. BMO Capital Markets assumed 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. Citizens Jmp raised Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 target price for the company in a research report on Wednesday, March 25th. Weiss Ratings raised Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 20th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Four Corners Property Trust in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.13.

Four Corners Property Trust Trading Down 1.5%

Shares of FCPT stock traded down $0.39 during mid-day trading on Monday, hitting $24.52. The company's stock had a trading volume of 118,805 shares, compared to its average volume of 800,551. The company's fifty day simple moving average is $24.77 and its 200-day simple moving average is $24.48. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $28.11. 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 $2.69 billion, a PE ratio of 21.88 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $78.17 million during the quarter, compared to the consensus estimate of $73.34 million. During the same period last year, the business posted $0.44 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Four Corners Property Trust will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William H. Lenehan acquired 3,961 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $25.23 per share, with a total value of $99,936.03. Following the acquisition, the chief executive officer owned 775,696 shares of the company's stock, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Institutional Trading of Four Corners Property Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock worth $25,000 after purchasing an additional 463 shares in the last quarter. Farther Finance Advisors LLC increased 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 purchasing an additional 995 shares in the last quarter. First Horizon Corp increased its holdings in Four Corners Property Trust by 147.4% during the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider's stock worth $27,000 after purchasing an additional 709 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Four Corners Property Trust during the 4th quarter worth approximately $36,000. Finally, Huntington National Bank increased its holdings in Four Corners Property Trust by 114.1% during the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider's stock worth $36,000 after purchasing an additional 836 shares in the last quarter. 98.66% of the stock is owned by 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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