Four Corners Property Trust, Inc. (NYSE:FCPT) Receives $30.60 Average Price Target from Brokerages

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

A number of equities analysts have commented on FCPT shares. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. Barclays assumed coverage on shares of Four Corners Property Trust in a report on Tuesday, December 17th. They set an “equal weight” rating and a $31.00 price target for the company. UBS Group assumed coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Finally, Evercore ISI raised their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th.

Four Corners Property Trust Trading Up 1.6 %

FCPT stock opened at $27.16 on Tuesday. Four Corners Property Trust has a one year low of $22.38 and a one year high of $30.93. The company has a market capitalization of $2.63 billion, a PE ratio of 25.38 and a beta of 1.12. The company’s 50 day moving average price is $28.62 and its two-hundred day moving average price is $27.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.355 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a yield of 5.23%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FCPT. FMR LLC boosted its position in shares of 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 purchasing an additional 3,268,064 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new position in Four Corners Property Trust during the third quarter valued at $24,863,000. Earnest Partners LLC boosted its holdings in shares of Four Corners Property Trust by 31.3% during the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after buying an additional 759,749 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Four Corners Property Trust by 539.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,318 shares of the financial services provider’s stock worth $20,145,000 after buying an additional 579,849 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Four Corners Property Trust by 1,867.7% in the 3rd quarter. Bank of Montreal Can now owns 228,987 shares of the financial services provider’s stock worth $6,771,000 after acquiring an additional 217,350 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.