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

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $30.60.

FCPT has been the topic of several recent analyst reports. UBS Group initiated coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price target on the stock. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Finally, Barclays began coverage on Four Corners Property Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 target price on the stock.

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in Four Corners Property Trust during the 3rd quarter valued at $51,000. Eagle Bay Advisors LLC increased its holdings in Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 425 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 921 shares in the last quarter. Vestcor Inc acquired a new stake in Four Corners Property Trust during the 3rd quarter valued at $109,000. Finally, GAMMA Investing LLC increased its holdings in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Up 2.0 %

Shares of Four Corners Property Trust stock opened at $26.78 on Friday. The stock’s fifty day moving average is $28.14 and its 200-day moving average is $27.94. The firm has a market capitalization of $2.59 billion, a PE ratio of 25.03 and a beta of 1.13. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust has a 12-month low of $22.38 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. Equities analysts anticipate that Four Corners Property Trust will post 1.66 earnings per share 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. Investors of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.30%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) 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.