Four Corners Property Trust, Inc. (NYSE:FCPT) Receives $27.78 Average Target Price from Brokerages

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $27.7778.

Several equities research analysts recently issued reports on the stock. Huntington initiated coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price for the company. Barclays lowered their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. UBS Group reissued a “buy” rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Finally, BMO Capital Markets initiated coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They set a “market perform” rating and a $27.00 price objective on the stock.

Four Corners Property Trust Stock Up 0.2%

FCPT stock opened at $25.23 on Thursday. Four Corners Property Trust has a twelve month low of $22.78 and a twelve month high of $26.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.77 billion, a P/E ratio of 22.73 and a beta of 0.79. The business’s 50-day moving average price is $25.17 and its 200-day moving average price is $25.00.

Four Corners Property Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.1222 dividend. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio is presently 131.53%.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently made changes to their positions in FCPT. Northwestern Mutual Wealth Management Co. grew its holdings in Four Corners Property Trust by 20,354.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after buying an additional 4,593,018 shares in the last quarter. Lasalle Investment Management Securities LLC purchased a new position in shares of Four Corners Property Trust in the fourth quarter worth $32,889,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Four Corners Property Trust by 1,071.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider’s stock worth $30,780,000 after acquiring an additional 1,220,871 shares during the last quarter. Millennium Management LLC boosted its position in shares of Four Corners Property Trust by 478.4% during 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 during the last quarter. Finally, Callodine Capital Management LP grew its stake in Four Corners Property Trust by 71.1% during the fourth quarter. Callodine Capital Management LP now owns 1,309,282 shares of the financial services provider’s stock valued at $30,192,000 after acquiring an additional 544,007 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

About Four Corners Property Trust

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.