Four Corners Property Trust (NYSE:FCPT) Research Coverage Started at Huntington

Huntington initiated coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $27.00 price objective on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Raymond James Financial decreased their target price on 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. Weiss Ratings raised Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Barclays increased their price objective on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Wells Fargo & Company raised their price objective on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, UBS Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Five investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Four Corners Property Trust Stock Down 0.2%

Shares of NYSE:FCPT opened at $26.36 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market cap of $2.89 billion, a PE ratio of 23.54 and a beta of 0.80. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $26.96. The firm has a 50 day simple moving average of $24.92 and a 200 day simple moving average of $24.80.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. During the same period in the prior year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. Four Corners Property Trust’s dividend payout ratio (DPR) is 131.25%.

Insider Activity at Four Corners Property Trust

In related news, CEO William H. Lenehan purchased 3,961 shares of the stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the acquisition, the chief executive officer directly owned 775,696 shares in the company, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

A number of institutional investors have recently bought and sold shares of FCPT. Northwestern Mutual Wealth Management Co. increased its holdings in Four Corners Property Trust by 20,354.6% in 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 during the last quarter. Lasalle Investment Management Securities LLC acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $32,889,000. Sumitomo Mitsui Trust Group Inc. lifted its stake 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 valued at $30,780,000 after acquiring an additional 1,220,871 shares during the last quarter. Millennium Management LLC grew its position in Four Corners Property Trust by 478.4% in the fourth quarter. Millennium Management LLC now owns 744,787 shares of the financial services provider’s stock worth $17,175,000 after acquiring an additional 616,012 shares in the last quarter. Finally, Callodine Capital Management LP increased its stake in shares of Four Corners Property Trust by 71.1% during the 4th quarter. Callodine Capital Management LP now owns 1,309,282 shares of the financial services provider’s stock worth $30,192,000 after purchasing an additional 544,007 shares during the last quarter. Institutional investors and hedge funds 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.