Four Corners Property Trust, Inc. (NYSE:FCPT) Given Consensus Rating of “Moderate Buy” by Analysts

Four Corners Property Trust, Inc. (NYSE:FCPT) has been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $30.60.

FCPT has been the topic of a number of research analyst reports. Raymond James increased their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI upped their target price on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. UBS Group started coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Barclays assumed coverage on Four Corners Property Trust in a research report on Tuesday. They issued an “equal weight” rating and a $31.00 target price on the stock.

Institutional Trading of Four Corners Property Trust

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 3,467 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Four Corners Property Trust by 3.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock valued at $1,142,000 after buying an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Four Corners Property Trust by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after acquiring an additional 22,792 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Four Corners Property Trust by 5.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 3,597 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Four Corners Property Trust by 12.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,934 shares of the financial services provider’s stock worth $812,000 after purchasing an additional 3,636 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock traded down $0.06 on Tuesday, reaching $28.44. The stock had a trading volume of 36,882 shares, compared to its average volume of 514,912. Four Corners Property Trust has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The business’s 50-day moving average price is $28.72 and its two-hundred day moving average price is $27.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market cap of $2.75 billion, a P/E ratio of 26.49 and a beta of 1.12.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, sell-side analysts forecast that Four Corners Property Trust will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.355 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 4.99%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is 132.71%.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.