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

Four Corners Property Trust, Inc. (NYSE:FCPT) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.60.

Several research analysts recently commented on the stock. UBS Group initiated coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective for the company. Barclays began coverage on 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. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th.

Institutional Trading of Four Corners Property Trust

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Four Corners Property Trust by 13.3% during the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after purchasing an additional 3,315 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Four Corners Property Trust by 6.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock worth $10,236,000 after buying an additional 20,028 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Four Corners Property Trust by 211.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock valued at $4,679,000 after buying an additional 108,345 shares during the period. Geode Capital Management LLC grew its stake 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 worth $69,101,000 after acquiring an additional 27,552 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Four Corners Property Trust by 21.0% during the third quarter. Citigroup Inc. now owns 201,872 shares of the financial services provider’s stock worth $5,917,000 after acquiring an additional 35,059 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 2.3 %

FCPT opened at $26.28 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50 day moving average price is $28.17 and its 200-day moving average price is $27.88. Four Corners Property Trust has a one year low of $22.38 and a one year high of $30.93. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 24.56 and a beta of 1.13.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Four Corners Property Trust will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.40%. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

About Four Corners Property Trust

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.