Huntington Initiates Coverage on Four Corners Property Trust (NYSE:FCPT)

Huntington began coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a report released on Wednesday. The brokerage set an “outperform” rating and a $27.00 price target on the financial services provider’s stock. Huntington’s target price would indicate a potential upside of 7.27% from the company’s current price.

Other analysts have also recently issued research reports about the stock. UBS Group reissued a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Raymond James Financial reduced their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. Wells Fargo & Company raised their price target on shares of 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. Barclays boosted their price target on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Finally, BMO Capital Markets began coverage on Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average price target of $27.89.

Four Corners Property Trust Price Performance

FCPT opened at $25.17 on Wednesday. The stock’s 50-day moving average price is $24.88 and its 200 day moving average price is $24.75. Four Corners Property Trust has a 12-month low of $22.78 and a 12-month high of $26.96. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 22.47 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The firm had revenue of $78.17 million for the quarter, compared to analysts’ expectations of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. As a group, sell-side analysts expect that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Insider Activity

In other news, CEO William H. Lenehan bought 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the purchase, the chief executive officer owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCPT. B&I Capital AG boosted its holdings in shares of Four Corners Property Trust by 19.7% in the fourth quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock valued at $7,420,000 after acquiring an additional 53,000 shares during the period. Lasalle Investment Management Securities LLC purchased a new stake in Four Corners Property Trust in the 4th quarter valued at $32,889,000. Northwestern Mutual Wealth Management Co. boosted its stake in Four Corners Property Trust by 20,354.6% during 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 purchasing an additional 4,593,018 shares during the period. Legal & General Group Plc boosted its stake in Four Corners Property Trust by 21.5% during the 4th quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after purchasing an additional 129,610 shares during the period. Finally, UBS Group AG grew its position in Four Corners Property Trust by 37.5% during the 4th quarter. UBS Group AG now owns 179,900 shares of the financial services provider’s stock worth $4,148,000 after purchasing an additional 49,060 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

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.