Four Corners Property Trust (NYSE:FCPT) Given New $31.00 Price Target at Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT) had its price target increased by Wells Fargo & Company from $30.00 to $31.00 in a research note released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on FCPT. UBS Group began coverage on Four Corners Property Trust in a report on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective on the stock. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Finally, Barclays lowered their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $28.99 on Monday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.90 billion, a PE ratio of 27.10 and a beta of 1.16. Four Corners Property Trust has a 12-month low of $22.38 and a 12-month high of $30.93. The business’s 50-day moving average price is $27.76 and its two-hundred day moving average price is $28.39.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. As a group, analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.90%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

Institutional Investors Weigh In On Four Corners Property Trust

Several large investors have recently modified their holdings of FCPT. FMR LLC boosted its position in Four Corners Property Trust by 30.6% during the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after acquiring an additional 3,268,064 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Four Corners Property Trust by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider’s stock valued at $295,146,000 after purchasing an additional 240,230 shares in the last quarter. Invesco Ltd. grew its stake in Four Corners Property Trust by 2.9% during the fourth quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock worth $83,395,000 after purchasing an additional 85,476 shares during the period. Geode Capital Management LLC increased its holdings in Four Corners Property Trust by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider’s stock worth $66,651,000 after purchasing an additional 98,120 shares in the last quarter. Finally, Capital International Investors lifted its stake in Four Corners Property Trust by 25.4% in the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider’s stock valued at $61,538,000 after buying an additional 459,542 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

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.