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 rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $28.00.

A number of research analysts have weighed in on the company. Robert W. Baird set a $29.00 target price on Four Corners Property Trust in a report on Wednesday, October 29th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Evercore 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 research report on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Finally, Barclays decreased their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th.

Four Corners Property Trust Trading Down 0.4%

NYSE:FCPT opened at $25.24 on Thursday. The company has a 50-day moving average price of $23.94 and a 200-day moving average price of $24.49. Four Corners Property Trust has a 12 month low of $22.78 and a 12 month high of $29.81. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 23.15 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The company had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $76.04 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. Four Corners Property Trust’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts predict that Four Corners Property Trust will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently made changes to their positions in FCPT. Northwestern Mutual Wealth Management Co. grew its stake in shares of Four Corners Property Trust by 20,354.6% in the 4th 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 purchased a new stake in shares of Four Corners Property Trust in the fourth quarter worth $32,889,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Four Corners Property Trust by 1,071.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider’s stock valued at $30,780,000 after acquiring an additional 1,220,871 shares in the last quarter. Callodine Capital Management LP purchased a new position in shares of Four Corners Property Trust in the 3rd quarter worth about $18,673,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Four Corners Property Trust by 444.7% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 653,350 shares of the financial services provider’s stock worth $15,942,000 after purchasing an additional 533,408 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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.