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

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $30.60.

Several analysts recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. UBS Group started coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price target on the stock. Barclays began coverage on Four Corners Property Trust in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 price target on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $27.17 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $28.10 and a 200-day simple moving average of $27.97. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 25.39 and a beta of 1.13. Four Corners Property Trust has a 12-month low of $22.38 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (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 analysts’ expectations of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, equities 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 announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.355 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.23%. 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 presently 132.71%.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds have recently bought and sold shares of FCPT. Eagle Bay Advisors LLC lifted its position in shares of Four Corners Property Trust by 25.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 425 shares in the last quarter. GAMMA Investing LLC raised its stake in Four Corners Property Trust by 24.3% in the 4th quarter. GAMMA Investing LLC now owns 5,226 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 1,021 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Four Corners Property Trust by 13.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 392,448 shares of the financial services provider’s stock valued at $11,503,000 after purchasing an additional 46,732 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Four Corners Property Trust by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after purchasing an additional 102,662 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Four Corners Property Trust by 44.9% during the third quarter. Sanctuary Advisors LLC now owns 27,967 shares of the financial services provider’s stock worth $818,000 after buying an additional 8,666 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, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.