Analysts Set Four Corners Property Trust, Inc. (NYSE:FCPT) Target Price at $28.00

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $28.00.

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Tuesday, October 14th. Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a report on Wednesday, October 29th. Wells Fargo & Company dropped their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Finally, Evercore ISI cut their target price on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a research report on Monday.

Insiders Place Their Bets

In other news, Director Douglas B. Hansen bought 1,984 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $23.64 per share, with a total value of $46,901.76. Following the completion of the acquisition, the director directly owned 78,247 shares in the company, valued at approximately $1,849,759.08. The trade was a 2.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted 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 buying an additional 463 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Four Corners Property Trust during the 2nd quarter valued at $27,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Four Corners Property Trust during the 2nd quarter worth $37,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Four Corners Property Trust by 1,632.6% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 1,551 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of Four Corners Property Trust by 1,389.5% in the 1st quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 1,584 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Down 0.3%

FCPT opened at $23.28 on Wednesday. The stock’s 50 day moving average price is $23.84 and its 200 day moving average price is $25.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $2.47 billion, a P/E ratio of 21.36 and a beta of 0.86. Four Corners Property Trust has a 12 month low of $22.80 and a 12 month high of $29.81.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $74.15 million during the quarter, compared to analyst estimates of $71.86 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, research analysts predict that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.3665 dividend. This represents a $1.47 annualized dividend and a dividend yield of 6.3%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, December 31st. Four Corners Property Trust’s payout ratio is currently 130.28%.

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.