Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Average Rating of “Hold” from Analysts

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $28.00.

Several research analysts have issued reports on the company. BMO Capital Markets assumed coverage on Four Corners Property Trust in a research note on Friday, April 17th. They set a “market perform” rating and a $27.00 price objective for the company. Citizens Jmp upgraded 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. Barclays increased their price objective on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. 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. Finally, Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan acquired 7,865 shares of the company’s stock in a transaction on Friday, March 6th. The stock was purchased at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the purchase, the chief executive officer directly owned 765,845 shares of the company’s stock, valued at $19,521,389.05. The trade was a 1.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Four Corners Property Trust by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider’s stock worth $278,043,000 after acquiring an additional 344,852 shares in the last quarter. State Street Corp increased its stake in shares of 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. increased its stake in shares of 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. increased its stake in shares of 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 increased its stake in shares of 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 currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Up 0.3%

Shares of FCPT stock opened at $25.06 on Friday. The stock has a market cap of $2.75 billion, a P/E ratio of 22.38 and a beta of 0.83. Four Corners Property Trust has a one year low of $22.78 and a one year high of $28.11. The stock has a fifty day moving average price of $24.82 and a 200 day moving average price of $24.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The firm had revenue of $78.17 million during the quarter, compared to the consensus estimate of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.44 earnings per share. Analysts predict that Four Corners Property Trust will post 1.75 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.3665 per share. This represents a $1.47 annualized dividend and a yield of 5.8%. The ex-dividend date was Tuesday, March 31st. Four Corners Property Trust’s dividend payout ratio is currently 131.25%.

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.