Barclays Cuts Four Corners Property Trust (NYSE:FCPT) Price Target to $30.00

Four Corners Property Trust (NYSE:FCPT) had its price objective lowered by Barclays from $31.00 to $30.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. 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 objective on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.40.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $27.98 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. Four Corners Property Trust has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 26.15 and a beta of 1.14. The stock has a fifty day moving average price of $27.79 and a 200-day moving average price of $28.20.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.08%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

Institutional Trading of Four Corners Property Trust

Hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in shares of Four Corners Property Trust by 1.5% during the 4th quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 406 shares in the last quarter. Eagle Bay Advisors LLC raised its position in Four Corners Property Trust by 25.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 425 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Four Corners Property Trust by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider’s stock valued at $1,226,000 after purchasing an additional 469 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of 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 last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Four Corners Property Trust by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 36,611 shares of the financial services provider’s stock valued at $994,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.