Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Consensus Rating of “Hold” from Brokerages

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.00.

FCPT has been the topic of a number of research analyst reports. Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a research note on Wednesday, October 29th. Wells Fargo & Company reduced their price target 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 report on Tuesday, November 25th. Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Evercore ISI lowered 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 report on Monday, December 15th. Finally, Barclays reduced their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th.

Four Corners Property Trust Price Performance

FCPT stock opened at $23.93 on Friday. The stock’s 50 day moving average is $23.61 and its two-hundred day moving average is $24.83. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $29.81. The company has a market capitalization of $2.54 billion, a PE ratio of 21.95 and a beta of 0.85. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Tuesday, October 28th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $74.15 million during the quarter, compared to analysts’ expectations of $71.86 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 EPS. Analysts predict that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.3665 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, December 31st. Four Corners Property Trust’s dividend payout ratio is presently 134.86%.

Insiders Place Their Bets

In other Four Corners Property Trust news, Director Douglas B. Hansen bought 1,984 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $23.64 per share, for a total transaction of $46,901.76. Following the completion of the purchase, the director directly owned 78,247 shares in the company, valued at approximately $1,849,759.08. This trade represents a 2.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FCPT. Clear Trail Advisors LLC acquired a new stake in Four Corners Property Trust during the fourth quarter worth about $1,328,000. SG Americas Securities LLC grew its holdings in shares of Four Corners Property Trust by 45.3% during the fourth quarter. SG Americas Securities LLC now owns 27,303 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 8,509 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Four Corners Property Trust by 31.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,988 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 3,558 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Four Corners Property Trust by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 611,782 shares of the financial services provider’s stock worth $14,927,000 after purchasing an additional 104,480 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Four Corners Property Trust by 12.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 31,001 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 3,424 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

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.