Analysts Set Four Corners Property Trust, Inc. (NYSE:FCPT) Price Target at $30.60

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $30.60.

A number of research firms recently weighed in on FCPT. Evercore ISI boosted 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 report on Wednesday, August 28th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. UBS Group started 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 target for the company. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. Finally, Barclays initiated coverage on Four Corners Property Trust in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 price objective on the stock.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $27.17 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 debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 25.39 and a beta of 1.12. The company’s fifty day moving average price is $28.59 and its 200-day moving average price is $27.66.

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

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.355 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.23%. Four Corners Property Trust’s payout ratio is presently 132.71%.

Institutional Trading of Four Corners Property Trust

Institutional investors have recently modified their holdings of the company. Truvestments Capital LLC bought a new position in Four Corners Property Trust during the 3rd quarter valued at approximately $51,000. Blue Trust Inc. increased its stake in shares of 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 valued at $91,000 after buying an additional 3,467 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Four Corners Property Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 921 shares in the last quarter. Vestcor Inc bought a new position in shares of Four Corners Property Trust during the third quarter valued at approximately $109,000. Finally, GAMMA Investing LLC lifted its stake in Four Corners Property Trust by 24.0% in the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 814 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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.