Four Corners Property Trust, Inc. (NYSE:FCPT) Receives $29.60 Average PT from Analysts

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $29.60.

FCPT has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. Barclays cut their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Finally, UBS Group cut their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th.

Insider Buying and Selling

In related news, CAO Niccole Stewart sold 9,100 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total transaction of $248,248.00. Following the sale, the chief accounting officer now directly owns 31,204 shares in the company, valued at $851,245.12. This trade represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Four Corners Property Trust by 234.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 817 shares during the period. Smartleaf Asset Management LLC increased its stake in Four Corners Property Trust by 165.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock valued at $38,000 after buying an additional 860 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in Four Corners Property Trust in the 4th quarter valued at $39,000. Costello Asset Management INC acquired a new stake in Four Corners Property Trust in the 1st quarter valued at $40,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Four Corners Property Trust in the 4th quarter valued at $46,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

Shares of FCPT stock opened at $27.58 on Friday. Four Corners Property Trust has a 52-week low of $23.70 and a 52-week high of $30.93. The stock has a market cap of $2.77 billion, a PE ratio of 25.78 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The firm’s 50 day moving average price is $27.78 and its two-hundred day moving average price is $27.97.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The firm had revenue of $71.48 million for the quarter, compared to analysts’ expectations of $67.17 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts forecast that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.355 per share. The ex-dividend date was Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.15%. Four Corners Property Trust’s payout ratio is 132.71%.

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.