Four Corners Property Trust (NYSE:FCPT) Receives “Market Perform” Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Four Corners Property Trust (NYSE:FCPT) in a research note issued to investors on Tuesday morning,Benzinga reports.

Several other research firms also recently commented on FCPT. Evercore ISI boosted 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 report on Wednesday, August 28th. Raymond James increased their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. UBS Group initiated coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Four Corners Property Trust Trading Up 0.1 %

Four Corners Property Trust stock opened at $29.28 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust has a 12 month low of $22.38 and a 12 month high of $30.93. The company’s fifty day simple moving average is $28.72 and its 200-day simple moving average is $27.44. The stock has a market cap of $2.83 billion, a P/E ratio of 27.36 and a beta of 1.12.

Four Corners Property Trust (NYSE:FCPT) last issued 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 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 business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 4.85%. Four Corners Property Trust’s payout ratio is currently 128.97%.

Institutional Investors Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Four Corners Property Trust by 30.6% during the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock worth $408,310,000 after purchasing an additional 3,268,064 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after buying an additional 759,749 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Four Corners Property Trust by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock valued at $69,101,000 after acquiring an additional 27,552 shares during the period. Principal Financial Group Inc. grew its stake in shares of Four Corners Property Trust by 6.1% in the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after acquiring an additional 102,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Four Corners Property Trust by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock valued at $44,495,000 after purchasing an additional 63,856 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

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.