Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Average Rating of “Moderate Buy” from Analysts

Four Corners Property Trust, Inc. (NYSE:FCPT) has received an average recommendation of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $27.00.

FCPT has been the topic of several analyst reports. Evercore ISI raised their target price on 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. Wells Fargo & Company upgraded Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Finally, Raymond James upped their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors have recently bought and sold shares of FCPT. Earnest Partners LLC boosted its position in 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 worth $78,667,000 after acquiring an additional 759,749 shares during the period. Norges Bank acquired a new stake in shares of Four Corners Property Trust during the 4th quarter valued at about $14,546,000. William Blair Investment Management LLC raised its stake in shares of Four Corners Property Trust by 26.7% in the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after acquiring an additional 297,300 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Four Corners Property Trust by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock valued at $266,127,000 after acquiring an additional 294,240 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Four Corners Property Trust by 14.2% in the 4th quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock valued at $45,739,000 after acquiring an additional 225,327 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Down 0.4 %

Shares of Four Corners Property Trust stock opened at $29.45 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $28.13 and its 200-day simple moving average is $25.64. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 27.52 and a beta of 1.10. Four Corners Property Trust has a twelve month low of $20.51 and a twelve month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results 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). The company had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Equities research analysts forecast that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.345 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.69%. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

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.