Barclays Issues Positive Forecast for Four Corners Property Trust (NYSE:FCPT) Stock Price

Four Corners Property Trust (NYSE:FCPT) had its target price hoisted by investment analysts at Barclays from $29.00 to $30.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 20.39% from the company’s current price.

Several other equities analysts also recently commented on the company. Huntington started coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective on the stock. Wells Fargo & Company lifted their target price on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Weiss Ratings downgraded shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.90.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $24.92 on Friday. The firm’s fifty day moving average is $25.32 and its two-hundred day moving average is $25.06. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $26.86. The company has a market cap of $2.74 billion, a P/E ratio of 22.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.29 by $0.16. The business had revenue of $78.42 million during the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. Four Corners Property Trust’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. As a group, analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP increased its position in shares of Four Corners Property Trust by 1.7% in the 2nd quarter. Corient Private Wealth LP now owns 112,843 shares of the financial services provider’s stock valued at $2,773,000 after acquiring an additional 1,915 shares during the period. Amundi lifted its position in Four Corners Property Trust by 10.4% during the 2nd quarter. Amundi now owns 61,058 shares of the financial services provider’s stock worth $1,499,000 after acquiring an additional 5,740 shares during the period. Groupe la Francaise acquired a new stake in Four Corners Property Trust during the 2nd quarter worth about $575,000. California State Teachers Retirement System grew its stake in Four Corners Property Trust by 2,286.2% during the 2nd quarter. California State Teachers Retirement System now owns 3,096,909 shares of the financial services provider’s stock valued at $76,029,000 after purchasing an additional 2,967,123 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of Four Corners Property Trust in the second quarter valued at about $254,000. 98.66% of the stock is currently 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.