Four Corners Property Trust (NYSE:FCPT) Share Price Passes Below 50-Day Moving Average - What's Next?

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $24.95 and traded as low as $24.18. Four Corners Property Trust shares last traded at $24.4580, with a volume of 668,791 shares changing hands.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. 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 for the company in a research report on Wednesday, March 25th. BMO Capital Markets assumed coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They issued a "market perform" rating and a $27.00 price objective for the company. Citigroup reaffirmed a "market outperform" rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Finally, Raymond James Financial decreased their price objective on shares of 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. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.13.

Four Corners Property Trust Trading Down 1.8%

The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $24.95 and a 200 day simple moving average of $24.54. The firm has a market cap of $2.68 billion, a PE ratio of 21.84 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $73.34 million. During the same period in the previous year, the company earned $0.44 earnings per share. The company's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 6.0%. Four Corners Property Trust's payout ratio is 131.25%.

Insider Buying and Selling

In other Four Corners Property Trust news, CEO William H. Lenehan bought 3,961 shares of Four Corners Property Trust stock in a transaction on Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the transaction, 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 at this link. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Four Corners Property Trust by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider's stock valued at $278,043,000 after purchasing an additional 344,852 shares during the period. State Street Corp raised its stake in Four Corners Property Trust by 2.7% in the fourth quarter. State Street Corp now owns 6,001,247 shares of the financial services provider's stock valued at $140,547,000 after buying an additional 155,966 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Four Corners Property Trust by 20,354.6% in 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 buying an additional 4,593,018 shares in the last quarter. Victory Capital Management Inc. raised its stake in Four Corners Property Trust by 8.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider's stock valued at $98,031,000 after buying an additional 349,048 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Four Corners Property Trust by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider's stock valued at $65,800,000 after buying an additional 110,791 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

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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