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

Four Corners Property Trust, Inc. (NYSE:FCPT) has been given an average rating of “Hold” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Five 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 analysts that have issued ratings on the stock in the last year is $28.00.

FCPT has been the subject of several analyst reports. Evercore lowered their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Wells Fargo & Company decreased their price objective on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 25th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 7,865 shares of Four Corners Property Trust stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $25.49 per share, with a total value of $200,478.85. Following the purchase, the chief executive officer owned 765,845 shares of the company’s stock, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Four Corners Property Trust by 2.9% in 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 acquiring an additional 344,852 shares during the period. State Street Corp grew its holdings 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 purchasing an additional 155,966 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 4,593,018 shares during the period. Victory Capital Management Inc. increased its stake in Four Corners Property Trust by 8.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider’s stock valued at $98,031,000 after purchasing an additional 349,048 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Four Corners Property Trust by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock valued at $65,800,000 after purchasing an additional 110,791 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Trading Up 0.6%

Shares of Four Corners Property Trust stock opened at $25.66 on Monday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36. Four Corners Property Trust has a 1 year low of $22.78 and a 1 year high of $29.81. The company’s fifty day simple moving average is $24.62 and its 200-day simple moving average is $24.45. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 23.33 and a beta of 0.82.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.Four Corners Property Trust’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, sell-side analysts expect that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.3665 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.47 dividend on an annualized basis and a yield of 5.7%. Four Corners Property Trust’s dividend payout ratio is currently 133.64%.

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.