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

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.00.

FCPT has been the subject of several analyst reports. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Barclays reduced their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Evercore ISI dropped their price objective on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday. Finally, Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.39 on Friday. The business has a fifty day moving average of $23.62 and a 200 day moving average of $24.77. Four Corners Property Trust has a 1 year low of $22.78 and a 1 year high of $29.81. 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 firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 22.38 and a beta of 0.85.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share for the quarter, beating 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 38.04%.The business had revenue of $74.15 million during the quarter, compared to analyst estimates of $71.86 million. During the same quarter last year, the business posted $0.43 EPS. The company’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.3665 dividend. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, December 31st. This represents a $1.47 annualized dividend and a yield of 6.0%. Four Corners Property Trust’s payout ratio is presently 134.86%.

Insider Buying and Selling at Four Corners Property Trust

In other news, Director Douglas B. Hansen bought 1,984 shares of the business’s stock in a transaction on Friday, October 31st. The shares were bought at an average price of $23.64 per share, with a total value of $46,901.76. Following the completion of the transaction, the director directly owned 78,247 shares in the company, valued at $1,849,759.08. This trade represents a 2.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FCPT. Allspring Global Investments Holdings LLC grew its position in Four Corners Property Trust by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,363 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 1,192 shares during the last quarter. Rye Brook Capital LLC raised its stake in Four Corners Property Trust by 11.4% during the 2nd quarter. Rye Brook Capital LLC now owns 122,600 shares of the financial services provider’s stock valued at $3,299,000 after acquiring an additional 12,500 shares during the last quarter. B&I Capital AG raised its stake in Four Corners Property Trust by 2.3% during the 2nd quarter. B&I Capital AG now owns 223,100 shares of the financial services provider’s stock valued at $6,004,000 after acquiring an additional 5,100 shares during the last quarter. Assetmark Inc. acquired a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $463,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Four Corners Property Trust by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 915,445 shares of the financial services provider’s stock valued at $24,635,000 after purchasing an additional 41,471 shares during the last quarter. Hedge funds and other 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.