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Boenning & Scattergood Believes Four Corners Property Trust (FCPT) Still Has Room to Grow


Four Corners Property Trust (FCPT) received a Buy rating and a $30 price target from Boenning & Scattergood analyst Merrill Ross today. The company’s shares closed on Tuesday at $27.51, close to its 52-week high of $28.08.

Ross wrote:

“We are initiating coverage of Trust (FCPT) with an Outperform rating and a $30 price target. FCPT is a triple-net lease REIT focused exclusively on free-standing restaurant properties. FCPT was spun out of Darden Restaurants (DRI-$107.75- an initial portfolio of 418 pristine properties that represented the premier restaurant brands operated by among others. While these brands are still dominant, FCPT has acquired nearly 200 additional properties and owns properties that house over 30 brands. Lease escalators provide modest annual growth, but the real driver of value creation will be acquisition activity over time.”

According to TipRanks.com, Ross is a 1-star analyst with an average return of -1.6% and a 48.6% success rate. Ross covers the Financial sector, focusing on stocks such as Preferred Apartment Communities, Easterly Government Properties, and NexPoint Residential Trust Inc.

Four Corners Property Trust has an analyst consensus of Moderate Buy, with a price target consensus of $29.

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Based on Four Corners Property Trust’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $17.5 million. In comparison, last year the company had a net profit of $19.21 million.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.

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Four Corners Property Trust, Inc. operates as a real estate investment trust, which owns, acquires and leases properties for use in the restaurant and food-service related industries. It operates through the following segments Real Estate operations and Restaurant operations.