Four Corners Property Trust (NYSE:FCPT) Coverage Initiated by Analysts at UBS Group

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

A number of other equities research analysts have also recently commented on FCPT. Evercore ISI lifted their price objective on 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. Raymond James increased their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Four Corners Property Trust Trading Up 0.6 %

FCPT stock traded up $0.18 during trading on Thursday, hitting $28.10. The company had a trading volume of 284,248 shares, compared to its average volume of 512,092. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 26.07 and a beta of 1.11. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $28.95 and a 200-day moving average price of $26.80. 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 earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (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 business had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This is a positive change 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 annualized dividend and a dividend yield of 5.05%. Four Corners Property Trust’s payout ratio is 128.97%.

Institutional Trading of Four Corners Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in shares of Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after buying an additional 470 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Four Corners Property Trust by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 527 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 valued at $123,000 after purchasing an additional 814 shares during the last quarter. Arizona State Retirement System raised its position in shares of Four Corners Property Trust by 3.5% in the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 worth $106,000 after acquiring an additional 921 shares during the period. 98.66% of the stock is owned by 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.