Four Corners Property Trust’s (FCPT) Market Outperform Rating Reaffirmed at Citizens Jmp

Four Corners Property Trust (NYSE:FCPT)‘s stock had its “market outperform” rating reiterated by Citizens Jmp in a note issued to investors on Tuesday,Benzinga reports. They presently have a $28.00 price target on the financial services provider’s stock. Citizens Jmp’s price objective indicates a potential upside of 9.73% from the company’s current price.

Several other equities analysts have also commented on the company. Wells Fargo & Company increased their price objective on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Weiss Ratings lowered Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Huntington started coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price for the company. Barclays reduced 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 research report on Wednesday, July 22nd. Finally, UBS Group reissued a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.80.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $25.52 on Tuesday. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $26.86. The company has a fifty day moving average of $25.26 and a 200-day moving average of $25.06. The company has a market capitalization of $2.80 billion, a P/E ratio of 22.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The business had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Four Corners Property Trust

A number of large investors have recently bought and sold shares of FCPT. Parallel Advisors LLC boosted its stake in shares of Four Corners Property Trust by 80.1% during 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 during the period. Farther Finance Advisors LLC raised its stake in shares of Four Corners Property Trust by 829.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 995 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Four Corners Property Trust during the fourth quarter worth about $36,000. Huntington National Bank raised its position in Four Corners Property Trust by 114.1% during the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 836 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Four Corners Property Trust by 326.1% in the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,262 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.