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

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, 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 1-year price target among brokers that have issued ratings on the stock in the last year is $30.60.

A number of analysts have weighed in on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Barclays began coverage on shares of Four Corners Property Trust in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $31.00 price target on the stock. UBS Group began coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $27.17 on Friday. The company has a market cap of $2.63 billion, a P/E ratio of 25.39 and a beta of 1.13. The firm has a fifty day moving average price of $28.10 and a 200 day moving average price of $27.97. The company has a current ratio of 0.17, a quick 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 released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (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 business had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.23%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is presently 132.71%.

Hedge Funds Weigh In On Four Corners Property Trust

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Four Corners Property Trust by 30.6% in the 3rd 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 during the last quarter. Earnest Partners LLC lifted its holdings in shares of Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after purchasing an additional 759,749 shares during the period. Geode Capital Management LLC grew its position in Four Corners Property Trust by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock valued at $69,101,000 after buying an additional 27,552 shares during the last quarter. Principal Financial Group Inc. increased its stake in Four Corners Property Trust by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after buying an additional 102,662 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Four Corners Property Trust by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock worth $44,495,000 after buying an additional 63,856 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

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.