Shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $27.7778.
Several research firms have recently issued reports on FCPT. Huntington began coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price target for the company. Wells Fargo & Company boosted their price target on shares of 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. Barclays cut their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Finally, Weiss Ratings cut Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th.
View Our Latest Stock Analysis on Four Corners Property Trust
Four Corners Property Trust Stock Performance
Four Corners Property Trust (NYSE:FCPT – Get Free Report) last posted its earnings results 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 firm had revenue of $78.42 million for the quarter, compared to analysts’ expectations 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 was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. Equities research analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current year.
Four Corners Property Trust Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.1222 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Four Corners Property Trust’s payout ratio is presently 131.53%.
Institutional Trading of Four Corners Property Trust
Several hedge funds have recently added to or reduced their stakes in FCPT. AQR Capital Management LLC grew its stake in shares of Four Corners Property Trust by 20.3% in the first quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 5,786 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Four Corners Property Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 2,508 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Four Corners Property Trust by 13.1% during 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 period. Jane Street Group LLC bought a new position in Four Corners Property Trust during the 1st quarter valued at about $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 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.
Featured Stories
- Five stocks we like better than Four Corners Property Trust
- Marvell Takes a Shot a Broadcom’s Throne With Google Deal
- 5 of the Most-Upgraded Stocks Over the Last Quarter Are All Software Names—Here’s Why
- Aehr Test Systems Soars Again on Latest Orders, Jefferies Eyes Big-Time Upside Ahead
- Walmart and Home Depot Earnings Show the K (Shaped Economy) Is Here to Stay
Receive News & Ratings for Four Corners Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Four Corners Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.
