Four Corners Property Trust (NYSE:FCPT) Upgraded by Citizens Jmp to “Outperform” Rating

Citizens Jmp upgraded shares of Four Corners Property Trust (NYSE:FCPT) from a market perform rating to an outperform rating in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has $28.00 target price on the financial services provider’s stock.

Several other equities analysts also recently commented on FCPT. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Evercore decreased their target price on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Wells Fargo & Company dropped their price target on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Finally, Raymond James Financial cut their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.86.

Four Corners Property Trust Stock Up 0.5%

Shares of FCPT stock opened at $24.02 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13. Four Corners Property Trust has a one year low of $22.78 and a one year high of $28.98. The company’s fifty day moving average price is $25.00 and its 200-day moving average price is $24.38. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 21.83 and a beta of 0.82.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The company had revenue of $75.67 million during the quarter, compared to the consensus estimate of $76.04 million. During the same quarter in the prior year, the firm posted $0.44 EPS. Four Corners Property Trust’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that Four Corners Property Trust will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.3665 dividend. This represents a $1.47 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Four Corners Property Trust’s payout ratio is 133.64%.

Insider Activity at Four Corners Property Trust

In other news, CEO William H. Lenehan purchased 7,865 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $25.49 per share, with a total value of $200,478.85. Following the completion of the purchase, the chief executive officer owned 765,845 shares in the company, valued at approximately $19,521,389.05. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Four Corners Property Trust by 20,354.6% during 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 acquiring an additional 4,593,018 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust in the fourth quarter worth $32,889,000. Sumitomo Mitsui Trust Group Inc. increased its position in Four Corners Property Trust by 1,071.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider’s stock worth $30,780,000 after purchasing an additional 1,220,871 shares during the last quarter. Callodine Capital Management LP purchased a new stake in Four Corners Property Trust during the third quarter valued at $18,673,000. Finally, Millennium Management LLC raised its stake in Four Corners Property Trust by 478.4% during the fourth quarter. Millennium Management LLC now owns 744,787 shares of the financial services provider’s stock valued at $17,175,000 after purchasing an additional 616,012 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

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.