Brokerages Set Four Corners Property Trust, Inc. (NYSE:FCPT) Price Target at $27.86

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $27.8571.

A number of analysts recently issued reports on the company. Evercore cut their price objective 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. Raymond James Financial lowered 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 research note on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Finally, Citizens Jmp upgraded shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a report on Wednesday, March 25th.

Four Corners Property Trust Trading Up 0.1%

FCPT opened at $23.74 on Friday. The stock has a market capitalization of $2.60 billion, a PE ratio of 21.58 and a beta of 0.82. Four Corners Property Trust has a one year low of $22.78 and a one year high of $28.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. The business’s 50 day moving average price is $24.95 and its 200 day moving average price is $24.34.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $76.04 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts expect that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

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

Insider Buying and Selling

In other news, CEO William H. Lenehan purchased 7,865 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the purchase, the chief executive officer directly owned 765,845 shares of the company’s stock, valued at approximately $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC grew its holdings in shares of Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares in the last quarter. Rye Brook Capital LLC increased its stake in Four Corners Property Trust by 0.4% during the 3rd quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock worth $3,004,000 after buying an additional 500 shares during the period. Arizona State Retirement System lifted its holdings in Four Corners Property Trust by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock worth $725,000 after buying an additional 554 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Four Corners Property Trust by 1.1% during the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock worth $1,467,000 after buying an additional 568 shares in the last quarter. Finally, Strs Ohio boosted its position in Four Corners Property Trust by 3.3% in the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock valued at $431,000 after buying an additional 600 shares during the period. 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.