Four Corners Property Trust (NYSE:FCPT) Sees Large Volume Increase - Should You Buy?

Key Points

• Four Corners declared a quarterly dividend of $0.3665 (annualized $1.47) representing a 6.0% yield
• Analysts' consensus is a "Hold" rating with an average price target of $27.86 (three Buys vs. five Holds), implying modest upside from the current share price.
• The company beat quarterly EPS estimates ($0.45 vs. $0.43) and reported revenue up 10.7% year-over-year despite a slight revenue miss, while CEO William Lenehan purchased 7,865 shares at $25.49, increasing insider ownership.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) saw an uptick in trading volume on Wednesday . 837,760 shares traded hands during trading, an increase of 2% from the previous session's volume of 817,593 shares.The stock last traded at $24.1540 and had previously closed at $23.84.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James Financial cut their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating on the stock in a report on Tuesday, March 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Evercore cut their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set an "in-line" rating on the stock in a report on Monday, December 15th. Citigroup reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Finally, Citizens Jmp raised shares of Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research note on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $27.86.

Four Corners Property Trust Stock Performance

The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 22.10 and a beta of 0.83. The stock's 50 day moving average price is $24.84 and its two-hundred day moving average price is $24.25.

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

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.3665 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.47 annualized dividend and a dividend yield of 6.0%. Four Corners Property Trust's payout ratio is currently 132.73%.

Insider Activity at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 7,865 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the transaction, the chief executive officer directly owned 765,845 shares of the company's stock, valued at approximately $19,521,389.05. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, 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

Several institutional investors and hedge funds have recently made changes to their positions in FCPT. Parallel Advisors LLC boosted its position in shares of Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock worth $25,000 after buying an additional 463 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Four Corners Property Trust by 829.2% in 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 in the last quarter. First Horizon Corp boosted its position in shares of Four Corners Property Trust by 147.4% in the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider's stock worth $27,000 after buying an additional 709 shares in the last quarter. Huntington National Bank boosted its position in shares of Four Corners Property Trust by 114.1% in the 4th 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 in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Four Corners Property Trust in the 4th quarter worth about $36,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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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