Raymond James Financial Has Lowered Expectations for Four Corners Property Trust (NYSE:FCPT) Stock Price

Four Corners Property Trust (NYSE:FCPT) had its price target dropped by equities research analysts at Raymond James Financial from $29.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price objective would suggest a potential upside of 8.46% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Evercore reduced their price target 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. Finally, Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.83.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT traded up $0.19 during mid-day trading on Tuesday, reaching $25.82. The company’s stock had a trading volume of 71,992 shares, compared to its average volume of 857,831. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $28.98. The stock has a fifty day moving average of $24.90 and a two-hundred day moving average of $24.43. The firm has a market capitalization of $2.83 billion, a PE ratio of 23.49 and a beta of 0.82.

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

Insider Buying and Selling at Four Corners Property Trust

In other news, CEO William H. Lenehan purchased 7,865 shares of the stock in a transaction dated Friday, March 6th. The shares were purchased at an average cost of $25.49 per share, with a total value of $200,478.85. Following the completion of the purchase, the chief executive officer directly owned 765,845 shares of the company’s stock, valued at approximately $19,521,389.05. The trade was a 1.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCPT. Mercer Global Advisors Inc. ADV boosted its stake in Four Corners Property Trust by 41.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,409 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 5,374 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Four Corners Property Trust in the fourth quarter worth about $830,000. Zimmer Partners LP boosted its position in Four Corners Property Trust by 5.7% during the fourth quarter. Zimmer Partners LP now owns 185,092 shares of the financial services provider’s stock worth $4,268,000 after acquiring an additional 10,000 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Four Corners Property Trust by 17.9% during the fourth quarter. Voloridge Investment Management LLC now owns 477,701 shares of the financial services provider’s stock worth $11,016,000 after acquiring an additional 72,636 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in Four Corners Property Trust by 398.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 154,539 shares of the financial services provider’s stock valued at $3,564,000 after acquiring an additional 123,538 shares in 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.