Four Corners Property Trust (NYSE:FCPT) Raised to Hold at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Four Corners Property Trust to a "Hold", and analysts have a consensus Hold rating with an average price target of $27.75 (three Buys, six Holds).
• Shares trade around $25.67 with a 52-week range of $22.78–$28.98 and a market cap of $2.82 billion; the company beat quarterly EPS estimates ($0.45 vs. $0.43) and reported revenue up 10.7% year-over-year.
• CEO William H. Lenehan bought 7,865 shares at ~$25.49, raising his stake to 765,845 shares, while institutional investors own about 98.66% of the stock.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) was upgraded by BMO Capital Markets to a "hold" rating in a report issued on Friday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Raymond James Financial dropped their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating for the company in a research note on Tuesday, March 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Citizens Jmp raised Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price objective for the company in a research note on Wednesday, March 25th. Finally, Citigroup reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $27.75.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock opened at $25.67 on Friday. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $28.98. The business's fifty day simple moving average is $24.90 and its 200-day simple moving average is $24.29. The firm has a market cap of $2.82 billion, a PE ratio of 23.33 and a beta of 0.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The business had revenue of $75.67 million for the quarter, compared to analyst estimates of $76.04 million. During the same quarter in the prior year, the company posted $0.44 EPS. The company's quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 7,865 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the acquisition, the chief executive officer directly owned 765,845 shares of the company's stock, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. B&I Capital AG boosted its holdings in Four Corners Property Trust by 20.5% in the third quarter. B&I Capital AG now owns 268,787 shares of the financial services provider's stock valued at $6,558,000 after acquiring an additional 45,687 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Four Corners Property Trust in the third quarter valued at $3,579,000. JPMorgan Chase & Co. raised its position in Four Corners Property Trust by 20.6% in the third quarter. JPMorgan Chase & Co. now owns 611,782 shares of the financial services provider's stock valued at $14,927,000 after purchasing an additional 104,480 shares during the period. Clear Trail Advisors LLC purchased a new position in Four Corners Property Trust in the fourth quarter valued at about $1,328,000. Finally, Public Sector Pension Investment Board raised its position in Four Corners Property Trust by 18.9% in the third quarter. Public Sector Pension Investment Board now owns 407,427 shares of the financial services provider's stock valued at $9,941,000 after purchasing an additional 64,906 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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