Four Corners Property Trust (NYSE:FCPT) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Four Corners Property Trust, Inc. (NYSE:FCPT) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.29 and traded as low as $23.50. Four Corners Property Trust shares last traded at $23.7610, with a volume of 485,793 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FCPT. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Raymond James Financial dropped their target price 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. Citizens Jmp raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research report on Wednesday, March 25th. Citigroup restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Finally, Evercore lowered their price target 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, December 15th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust has an average rating of “Hold” and an average price target of $27.86.

Four Corners Property Trust Price Performance

The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 21.60 and a beta of 0.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $24.87 and its 200-day moving average price is $24.29.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.3665 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.2%. Four Corners Property Trust’s dividend payout ratio is currently 132.73%.

Insider Activity

In related news, CEO William H. Lenehan bought 7,865 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the acquisition, the chief executive officer owned 765,845 shares in the company, valued at approximately $19,521,389.05. This trade represents a 1.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Four Corners Property Trust

Several large investors have recently bought and sold shares of the stock. B&I Capital AG grew its holdings in Four Corners Property Trust by 20.5% during the 3rd quarter. B&I Capital AG now owns 268,787 shares of the financial services provider’s stock worth $6,558,000 after acquiring an additional 45,687 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at $3,579,000. JPMorgan Chase & Co. raised its holdings in shares of Four Corners Property Trust by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 611,782 shares of the financial services provider’s stock valued at $14,927,000 after purchasing an additional 104,480 shares in the last quarter. Clear Trail Advisors LLC purchased a new stake in shares of Four Corners Property Trust during the 4th quarter worth $1,328,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Four Corners Property Trust by 18.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 407,427 shares of the financial services provider’s stock worth $9,941,000 after purchasing an additional 64,906 shares during the last quarter. Hedge funds and other 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.