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

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

FCPT has been the subject of several research reports. Barclays dropped their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Evercore dropped their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a research note on Monday, December 15th. Robert W. Baird set a $29.00 target price on Four Corners Property Trust in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Finally, Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th.

Institutional Trading of Four Corners Property Trust

Several hedge funds have recently modified their holdings of FCPT. Handelsbanken Fonder AB grew its stake in Four Corners Property Trust by 3.7% during the 4th quarter. Handelsbanken Fonder AB now owns 33,495 shares of the financial services provider’s stock worth $772,000 after purchasing an additional 1,200 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Four Corners Property Trust by 7.8% in the 4th quarter. ProShare Advisors LLC now owns 277,163 shares of the financial services provider’s stock valued at $6,391,000 after buying an additional 20,149 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Four Corners Property Trust by 20,354.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after buying an additional 4,593,018 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Four Corners Property Trust by 15.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 88,690 shares of the financial services provider’s stock worth $2,045,000 after buying an additional 11,844 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Four Corners Property Trust by 3.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,276 shares of the financial services provider’s stock worth $560,000 after buying an additional 700 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $25.36 on Thursday. The firm has a 50-day simple moving average of $23.84 and a two-hundred day simple moving average of $24.52. The stock has a market cap of $2.69 billion, a PE ratio of 23.27 and a beta of 0.83. 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.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.3665 dividend. This represents a $1.47 annualized dividend and a dividend yield of 5.8%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, December 31st. Four Corners Property Trust’s payout ratio is presently 134.86%.

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.