Four Corners Property Trust, Inc. (NYSE:FCPT – Get Free Report) CEO William Lenehan bought 3,961 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the transaction, the chief executive officer owned 775,696 shares in the company, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Four Corners Property Trust Trading Up 1.1%
Shares of FCPT stock traded up $0.29 during trading hours on Wednesday, hitting $25.43. 467,775 shares of the company were exchanged, compared to its average volume of 813,103. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $28.14. The company has a 50 day simple moving average of $24.98 and a two-hundred day simple moving average of $24.37. The firm has a market cap of $2.79 billion, a P/E ratio of 22.70 and a beta of 0.83.
Four Corners Property Trust (NYSE:FCPT – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The company had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.75 EPS for the current year.
Four Corners Property Trust Announces Dividend
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on FCPT shares. Barclays raised their target price on Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Citizens Jmp raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Wednesday, March 25th. BMO Capital Markets initiated coverage on Four Corners Property Trust in a research note on Friday, April 17th. They set a “market perform” rating and a $27.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Finally, Raymond James Financial lowered their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.
Check Out Our Latest Stock Report on FCPT
Institutional Trading of Four Corners Property Trust
A number of institutional investors and hedge funds have recently modified their holdings of FCPT. Vanguard Group Inc. increased its position in shares of Four Corners Property Trust by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider’s stock valued at $278,043,000 after purchasing an additional 344,852 shares during the last quarter. State Street Corp grew its position in Four Corners Property Trust by 2.7% during the fourth quarter. State Street Corp now owns 6,001,247 shares of the financial services provider’s stock valued at $140,547,000 after buying an additional 155,966 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Four Corners Property Trust by 20,354.6% during the fourth 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 during the period. Victory Capital Management Inc. increased its holdings in Four Corners Property Trust by 8.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider’s stock worth $98,031,000 after buying an additional 349,048 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Four Corners Property Trust by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock worth $65,800,000 after buying an additional 110,791 shares during the last quarter. 98.66% of the stock is 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.
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