Analysts Set Four Corners Property Trust, Inc. (NYSE:FCPT) Price Target at $27.78

Four Corners Property Trust, Inc. (NYSE:FCPT) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $27.80.

FCPT has been the topic of several recent analyst reports. Huntington began coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. UBS Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a report on Tuesday, August 25th. Finally, Barclays decreased their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds have recently modified their holdings of FCPT. Deutsche Bank AG acquired a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $15,215,000. Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust during the 4th quarter valued at approximately $32,889,000. Northwestern Mutual Wealth Management Co. grew its holdings in Four Corners Property Trust by 20,354.6% in the 4th 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 during the last quarter. Legal & General Group Plc increased its position in Four Corners Property Trust by 21.5% in the 4th quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after buying an additional 129,610 shares during the period. Finally, Bank of America Corp DE increased its position in Four Corners Property Trust by 7.9% in the 1st quarter. Bank of America Corp DE now owns 1,317,179 shares of the financial services provider’s stock worth $31,151,000 after buying an additional 96,689 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Up 0.2%

FCPT stock opened at $25.29 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $2.78 billion, a P/E ratio of 22.78 and a beta of 0.79. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $26.86. The company’s 50 day simple moving average is $25.32 and its 200-day simple moving average is $25.06.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The firm had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities research analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced 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 dividend yield of 5.8%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.43%.

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.