Raymond James Financial Issues Pessimistic Forecast for Four Corners Property Trust (NYSE:FCPT) Stock Price

Four Corners Property Trust (NYSE:FCPT) had its target price decreased by equities research analysts at Raymond James Financial from $29.00 to $28.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price target indicates a potential upside of 8.46% from the company’s current price.

Several other research analysts have also commented on the company. Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Evercore dropped 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 report on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Finally, Wells Fargo & Company reduced their target price on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 25th. Two 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 “Hold” and a consensus target price of $27.83.

Four Corners Property Trust Trading Up 0.7%

Four Corners Property Trust stock traded up $0.19 during trading on Tuesday, reaching $25.82. 71,992 shares of the company were exchanged, compared to its average volume of 857,831. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $28.98. The company has a market capitalization of $2.83 billion, a P/E ratio of 23.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50 day simple moving average is $24.90 and its two-hundred day simple moving average is $24.43.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $75.67 million for the quarter, compared to analyst estimates of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, equities research analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insider Activity at Four Corners Property Trust

In related news, CEO William H. Lenehan acquired 7,865 shares of Four Corners Property Trust stock in a transaction on Friday, March 6th. The shares were bought at an average price 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 in the company, valued at $19,521,389.05. This trade represents a 1.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV raised its stake 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 valued at $425,000 after buying an additional 5,374 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Four Corners Property Trust during the fourth quarter valued at $830,000. Zimmer Partners LP grew its position 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 worth $4,268,000 after purchasing an additional 10,000 shares during the last quarter. Voloridge Investment Management LLC grew its holdings 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 buying an additional 72,636 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of Four Corners Property Trust by 398.5% in the fourth 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 in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

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.