Four Corners Property Trust (NYSE:FCPT) Sees Strong Trading Volume

Four Corners Property Trust, Inc. (NYSE:FCPT) saw unusually-strong trading volume on Thursday . Approximately 521,207 shares changed hands 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.

Analyst Ratings Changes

Several brokerages recently commented on FCPT. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Raymond James raised their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI increased their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Four Corners Property Trust Trading Down 2.2 %

The company has a 50 day simple moving average of $27.73 and a 200 day simple moving average of $25.43. The stock has a market capitalization of $2.75 billion, a PE ratio of 28.62 and a beta of 1.10. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. During the same quarter last year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.345 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.38 annualized dividend and a yield of 4.61%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 128.97%.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Four Corners Property Trust by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,339,614 shares of the financial services provider’s stock valued at $33,892,000 after buying an additional 53,517 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Four Corners Property Trust during the fourth quarter worth about $223,000. Beacon Pointe Advisors LLC lifted its holdings 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 acquiring an additional 1,462 shares during the period. Norges Bank acquired a new position in shares of Four Corners Property Trust in the 4th quarter valued at $14,546,000. Finally, PNC Financial Services Group Inc. lifted its position in Four Corners Property Trust by 31.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock valued at $269,000 after buying an additional 2,551 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

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.