Four Corners Property Trust (NYSE:FCPT) Research Coverage Started at UBS Group

UBS Group began coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $33.00 price objective on the financial services provider’s stock.

FCPT has been the topic of a number of other research reports. Raymond James upped 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 note on Wednesday, August 21st. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Finally, Evercore ISI boosted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.50.

Four Corners Property Trust Stock Up 1.1 %

Four Corners Property Trust stock opened at $28.22 on Thursday. The business has a fifty day moving average price of $28.93 and a 200-day moving average price of $26.85. Four Corners Property Trust has a 1-year low of $22.38 and a 1-year high of $30.93. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 26.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17.

Four Corners Property Trust (NYSE:FCPT) last issued 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). 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 during the quarter, compared to analyst estimates of $63.50 million. During the same period in the prior year, the business posted $0.42 EPS. Four Corners Property Trust’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Four Corners Property Trust will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.355 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.03%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in Four Corners Property Trust in the third quarter valued at approximately $51,000. Covestor Ltd increased its holdings in shares of Four Corners Property Trust by 23.2% during the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Four Corners Property Trust by 34.8% in 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 during the period. Blue Trust Inc. boosted its holdings in Four Corners Property Trust by 1,469.1% during the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after buying an additional 3,467 shares in the last quarter. Finally, Vestcor Inc acquired a new stake in Four Corners Property Trust during the third quarter valued at $109,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

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.