Four Corners Property Trust (NYSE:FCPT) Sees Unusually-High Trading Volume

Four Corners Property Trust, Inc. (NYSE:FCPT) saw an uptick in trading volume on Thursday . 521,207 shares were traded during trading, an increase of 4% from the previous session’s volume of 501,036 shares.The stock last traded at $30.35 and had previously closed at $30.62.

Analysts Set New Price Targets

FCPT has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Evercore ISI increased their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Raymond James lifted their price objective 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. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.00.

Four Corners Property Trust Trading Down 0.7 %

The company has a market cap of $2.74 billion, a P/E ratio of 27.83 and a beta of 1.10. The business has a fifty day simple moving average of $27.90 and a 200 day simple moving average of $25.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The business had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. Analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.345 per share. The ex-dividend date is Monday, September 30th. This represents a $1.38 annualized dividend and a yield of 4.63%. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Institutional Trading of Four Corners Property Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after buying an additional 116,453 shares during the period. Earnest Partners LLC grew its position 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 acquiring an additional 759,749 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Four Corners Property Trust by 3.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after acquiring an additional 93,552 shares during the period. Capital International Investors lifted its position in Four Corners Property Trust by 14.2% in the 4th quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock valued at $45,739,000 after purchasing an additional 225,327 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Four Corners Property Trust by 26.7% during the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after purchasing an additional 297,300 shares during the period. 98.66% of the stock is currently 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.