Four Corners Property Trust (NYSE:FCPT) Raised to “Hold” at BMO Capital Markets

Four Corners Property Trust (NYSE:FCPT) was upgraded by stock analysts at BMO Capital Markets to a “hold” rating in a research note issued on Friday,Zacks.com reports.

Several other research firms also recently issued reports on FCPT. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Wednesday, April 8th. Citizens Jmp raised shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Wednesday, March 25th. Raymond James Financial reduced their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Finally, Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.75.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $25.67 on Friday. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 23.33 and a beta of 0.83. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $28.98. 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 firm has a 50 day moving average of $24.90 and a 200-day moving average of $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 EPS 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 last year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William H. Lenehan acquired 7,865 shares of the company’s stock in a transaction on Friday, March 6th. The shares were acquired at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the purchase, the chief executive officer owned 765,845 shares in the company, valued at approximately $19,521,389.05. The trade was a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in Four Corners Property Trust by 395.7% during the 1st quarter. SG Americas Securities LLC now owns 135,344 shares of the financial services provider’s stock valued at $3,201,000 after acquiring an additional 108,041 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Four Corners Property Trust by 41.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,409 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 5,374 shares in the last quarter. XTX Topco Ltd bought a new position in Four Corners Property Trust during the 4th quarter valued at $830,000. Zimmer Partners LP lifted its stake in Four Corners Property Trust by 5.7% during the 4th quarter. Zimmer Partners LP now owns 185,092 shares of the financial services provider’s stock valued at $4,268,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Four Corners Property Trust by 17.9% during the 4th quarter. Voloridge Investment Management LLC now owns 477,701 shares of the financial services provider’s stock valued at $11,016,000 after acquiring an additional 72,636 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

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.