Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Consensus Rating of “Moderate Buy” from Analysts

Four Corners Property Trust, Inc. (NYSE:FCPT) has received an average recommendation of “Moderate Buy” from the four brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $27.00.

Several research analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI upped their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Wells Fargo & Company raised Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Finally, Raymond James upped 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.

Institutional Trading of Four Corners Property Trust

A number of large investors have recently made changes to their positions in FCPT. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Four Corners Property Trust during the 4th quarter worth about $223,000. Beacon Pointe Advisors LLC boosted its stake in shares of Four Corners Property Trust by 12.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 13,377 shares of the financial services provider’s stock worth $338,000 after buying an additional 1,462 shares during the last quarter. Norges Bank acquired a new stake in Four Corners Property Trust in the 4th quarter valued at about $14,546,000. PNC Financial Services Group Inc. lifted its stake in Four Corners Property Trust by 31.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 2,551 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Four Corners Property Trust by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 609,208 shares of the financial services provider’s stock valued at $15,413,000 after purchasing an additional 203,047 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 0.6 %

Shares of FCPT opened at $29.79 on Friday. Four Corners Property Trust has a 12-month low of $20.51 and a 12-month high of $30.93. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 27.84 and a beta of 1.10. The stock’s 50-day moving average price is $27.90 and its 200 day moving average price is $25.50. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The company had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

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

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.