Four Corners Property Trust (NYSE:FCPT) Price Target Cut to $28.00 by Analysts at Raymond James Financial

Four Corners Property Trust (NYSE:FCPT) had its price objective decreased by Raymond James Financial from $29.00 to $28.00 in a report released on Tuesday,Benzinga reports. Raymond James Financial currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also commented on the company. Citigroup restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Evercore lowered their price objective on shares of 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Finally, Wells Fargo & Company dropped their price target on shares of 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. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.83.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $25.69 on Tuesday. The firm’s 50 day moving average is $24.94 and its 200-day moving average is $24.43. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.36. Four Corners Property Trust has a 12-month low of $22.78 and a 12-month high of $28.98. The company has a market capitalization of $2.82 billion, a PE ratio of 23.35 and a beta of 0.82.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The company had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $76.04 million. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.3665 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.47 annualized dividend and a yield of 5.7%. Four Corners Property Trust’s dividend payout ratio (DPR) is 133.64%.

Insider Activity at Four Corners Property Trust

In related news, CEO William H. Lenehan acquired 7,865 shares of the stock in a transaction on Friday, March 6th. The stock was acquired 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 directly owned 765,845 shares of the company’s stock, valued at approximately $19,521,389.05. This represents a 1.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Several institutional investors have recently bought and sold shares of FCPT. B&I Capital AG lifted its holdings in Four Corners Property Trust by 20.5% in the third quarter. B&I Capital AG now owns 268,787 shares of the financial services provider’s stock valued at $6,558,000 after acquiring an additional 45,687 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Four Corners Property Trust during the third quarter valued at approximately $3,579,000. Geode Capital Management LLC boosted its holdings in Four Corners Property Trust by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock worth $71,910,000 after buying an additional 68,415 shares during the period. Legal & General Group Plc boosted its stake in shares of Four Corners Property Trust by 3.5% in the second quarter. Legal & General Group Plc now owns 660,396 shares of the financial services provider’s stock worth $17,771,000 after acquiring an additional 22,248 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in Four Corners Property Trust by 50.6% in the 2nd quarter. Edgestream Partners L.P. now owns 241,450 shares of the financial services provider’s stock worth $6,497,000 after purchasing an additional 81,173 shares during the period. 98.66% of the stock is owned by hedge funds and other 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.