Four Corners Property Trust, Inc. (NYSE:FCPT) Given Average Rating of “Hold” by Analysts

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of brokerages have recently weighed in on FCPT. Citigroup restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Evercore dropped their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Finally, Wells Fargo & Company decreased 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 report on Tuesday, November 25th.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $25.66 on Monday. The stock has a market capitalization of $2.82 billion, a P/E ratio of 23.33 and a beta of 0.82. The business has a 50-day moving average of $24.62 and a two-hundred day moving average of $24.44. Four Corners Property Trust has a fifty-two week low of $22.78 and a fifty-two week high of $29.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results 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 firm had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Four Corners Property Trust will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared 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. This represents a $1.47 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Four Corners Property Trust’s payout ratio is currently 133.64%.

Insider Activity at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 7,865 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was bought 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 in the company, valued at $19,521,389.05. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its position in Four Corners Property Trust by 41.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,409 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 5,374 shares during the period. XTX Topco Ltd bought a new stake in Four Corners Property Trust in the 4th quarter valued at $830,000. Zimmer Partners LP boosted its holdings in Four Corners Property Trust by 5.7% in the 4th quarter. Zimmer Partners LP now owns 185,092 shares of the financial services provider’s stock valued at $4,268,000 after purchasing an additional 10,000 shares during the period. Voloridge Investment Management LLC grew its position in Four Corners Property Trust by 17.9% in the 4th quarter. Voloridge Investment Management LLC now owns 477,701 shares of the financial services provider’s stock worth $11,016,000 after purchasing an additional 72,636 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its position in Four Corners Property Trust by 398.5% in the 4th quarter. Tudor Investment Corp ET AL now owns 154,539 shares of the financial services provider’s stock worth $3,564,000 after purchasing an additional 123,538 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

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.