Four Corners Property Trust (NYSE:FCPT) Earns Buy Rating from Analysts at UBS Group

UBS Group started coverage on shares of Four Corners Property Trust (NYSE:FCPTFree Report) in a research note published on Thursday, Marketbeat reports. The firm issued a buy rating and a $33.00 price target on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on FCPT. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Evercore ISI boosted their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Finally, Raymond James boosted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust has an average rating of “Moderate Buy” and an average price target of $30.50.

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Four Corners Property Trust Trading Up 1.1 %

Shares of Four Corners Property Trust stock opened at $28.22 on Thursday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust has a twelve month low of $22.38 and a twelve month high of $30.93. The firm has a market capitalization of $2.73 billion, a PE ratio of 26.37 and a beta of 1.11. The firm’s 50-day moving average price is $28.93 and its 200 day moving average price is $26.85.

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

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a yield of 5.03%. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Hedge Funds Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Four Corners Property Trust during the 3rd quarter worth approximately $51,000. Covestor Ltd lifted its holdings in Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 470 shares during the last quarter. Blue Trust Inc. grew its position in Four Corners Property Trust by 1,469.1% in the second 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 period. Mirae Asset Global Investments Co. Ltd. increased its stake in Four Corners Property Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 921 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in Four Corners Property Trust in the third quarter valued at $109,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

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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.

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Analyst Recommendations for Four Corners Property Trust (NYSE:FCPT)

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