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

Four Corners Property Trust (NYSE:FCPT) was upgraded by equities research analysts at BMO Capital Markets to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. 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 note on Tuesday, March 17th. Citizens Jmp upgraded 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 note on Wednesday, March 25th. Finally, Citigroup restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.75.

Four Corners Property Trust Stock Up 2.2%

Shares of NYSE FCPT opened at $25.67 on Friday. Four Corners Property Trust has a 1 year low of $22.78 and a 1 year high of $28.98. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 23.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. The stock’s 50-day simple moving average is $24.90 and its 200-day simple moving average is $24.29.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 7,865 shares of Four Corners Property Trust stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the transaction, the chief executive officer owned 765,845 shares in the company, valued at approximately $19,521,389.05. This represents a 1.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Four Corners Property Trust by 80.1% during the third 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. Rye Brook Capital LLC raised its holdings in Four Corners Property Trust by 0.4% during the third quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock worth $3,004,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System raised its holdings in Four Corners Property Trust by 1.9% during the third quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 554 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Four Corners Property Trust by 1.1% during the second quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock worth $1,467,000 after purchasing an additional 568 shares in the last quarter. Finally, Strs Ohio raised its holdings in Four Corners Property Trust by 3.3% during the fourth quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 600 shares in the last quarter. Institutional investors 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.