Four Corners Property Trust, Inc. (NYSE:FCPT) Receives $30.60 Consensus Price Target from Brokerages

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $30.60.

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

Institutional Trading of Four Corners Property Trust

Several institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in shares of Four Corners Property Trust in the third quarter worth $51,000. Blue Trust Inc. raised its position in Four Corners Property Trust by 1,469.1% in the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after buying an additional 3,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after buying an additional 921 shares during the last quarter. Vestcor Inc bought a new position in Four Corners Property Trust during the 3rd quarter valued at about $109,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 814 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $27.17 on Tuesday. The company has a 50-day simple moving average of $28.59 and a two-hundred day simple moving average of $27.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $2.63 billion, a PE ratio of 25.39 and a beta of 1.12. Four Corners Property Trust has a one year low of $22.38 and a one year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. On average, analysts anticipate 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 declared 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.23%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio (DPR) 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.