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

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been given an average rating of “Hold” by the nine analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.1250.

A number of research analysts have recently commented on FCPT shares. Wells Fargo & Company increased their target price 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. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Raymond James Financial dropped their target price on 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. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Citizens Jmp raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research report on Wednesday, March 25th.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan purchased 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the transaction, the chief executive officer directly owned 775,696 shares in the company, valued at $19,570,810.08. This represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

A number of institutional investors have recently bought and sold shares of FCPT. Northwestern Mutual Wealth Management Co. lifted its position in Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after buying an additional 4,593,018 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust in the fourth quarter worth $32,889,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Four Corners Property Trust by 1,071.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider’s stock worth $30,780,000 after buying an additional 1,220,871 shares during the last quarter. Callodine Capital Management LP bought a new stake in Four Corners Property Trust in the third quarter worth $18,673,000. Finally, Millennium Management LLC lifted its stake in shares of Four Corners Property Trust by 478.4% during the 4th quarter. Millennium Management LLC now owns 744,787 shares of the financial services provider’s stock worth $17,175,000 after acquiring an additional 616,012 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Stock Up 1.9%

NYSE FCPT opened at $24.95 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market capitalization of $2.74 billion, a P/E ratio of 22.28 and a beta of 0.80. Four Corners Property Trust has a one year low of $22.78 and a one year high of $28.11. The stock has a 50 day moving average price of $24.80 and a 200-day moving average price of $24.50.

Four Corners Property Trust (NYSE:FCPT) last posted its 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). The firm had revenue of $78.17 million for the quarter, compared to the consensus estimate of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, equities analysts predict that Four Corners Property Trust will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.1222 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.9%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 131.25%.

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.