Analysts Set Four Corners Property Trust, Inc. (NYSE:FCPT) PT at $27.00

Four Corners Property Trust, Inc. (NYSE:FCPT) has been assigned an average rating of “Moderate Buy” from the four ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $27.00.

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Raymond James raised 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 report on Wednesday, August 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th.

Four Corners Property Trust Stock Up 0.2 %

Shares of Four Corners Property Trust stock opened at $28.40 on Wednesday. Four Corners Property Trust has a 1 year low of $20.51 and a 1 year high of $28.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13. The company has a 50-day moving average of $26.61 and a 200 day moving average of $24.97. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 26.54 and a beta of 1.08.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, July 31st. 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 7.72% and a net margin of 37.01%. The company had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Four Corners Property Trust will post 1.65 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.345 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.38 annualized dividend and a dividend yield of 4.86%. Four Corners Property Trust’s payout ratio is 128.97%.

Insider Buying and Selling at Four Corners Property Trust

In related news, CEO William H. Lenehan purchased 6,230 shares of Four Corners Property Trust stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at approximately $14,920,475.70. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director John S. Moody sold 7,230 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total value of $177,568.80. Following the completion of the transaction, the director now directly owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William H. Lenehan purchased 6,230 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the purchase, the chief executive officer now owns 620,394 shares of the company’s stock, valued at $14,920,475.70. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Boston Trust Walden Corp boosted its holdings in shares of Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after purchasing an additional 191,259 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Four Corners Property Trust by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,339,614 shares of the financial services provider’s stock valued at $33,892,000 after purchasing an additional 53,517 shares in the last quarter. Vanguard Group Inc. increased its stake in Four Corners Property Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after purchasing an additional 116,453 shares in the last quarter. Norges Bank purchased a new position in shares of Four Corners Property Trust in the fourth quarter worth $14,546,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Four Corners Property Trust by 31.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after buying an additional 2,551 shares during the period. 98.66% of the stock is 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.