Four Corners Property Trust’s (FCPT) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Four Corners Property Trust (NYSE:FCPT) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $28.00 target price on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. Huntington began coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price for the company. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Barclays cut their price target on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective 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. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.80.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $25.20 on Tuesday. Four Corners Property Trust has a fifty-two week low of $22.78 and a fifty-two week high of $26.86. The business has a 50-day moving average of $25.31 and a two-hundred day moving average of $25.06. The stock has a market capitalization of $2.77 billion, a P/E ratio of 22.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. The business had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities research analysts predict that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.1222 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is 132.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in Four Corners Property Trust by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 5,786 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Four Corners Property Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 2,508 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Four Corners Property Trust by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock valued at $19,569,000 after acquiring an additional 79,023 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Four Corners Property Trust in the 1st quarter worth approximately $2,627,000. Finally, American Century Companies Inc. boosted its holdings in shares of Four Corners Property Trust by 34.3% in the 2nd quarter. American Century Companies Inc. now owns 37,054 shares of the financial services provider’s stock worth $997,000 after acquiring an additional 9,460 shares in 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.