Four Corners Property Trust, Inc. (NYSE:FCPT) Given Consensus Rating of “Moderate Buy” by Brokerages

Four Corners Property Trust, Inc. (NYSE:FCPT) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $27.90.

FCPT has been the subject of several recent research reports. UBS Group reiterated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Huntington started coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price for the company. Citizens Jmp reiterated a “market outperform” rating and set a $28.00 target price on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Finally, Barclays boosted their target price on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th.

Four Corners Property Trust Trading Down 0.8%

FCPT traded down $0.17 during trading on Friday, hitting $22.52. 169,329 shares of the company’s stock were exchanged, compared to its average volume of 812,843. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 1 year low of $22.40 and a 1 year high of $26.86. The stock has a 50 day moving average price of $25.13 and a 200 day moving average price of $24.98. The firm has a market cap of $2.47 billion, a P/E ratio of 20.27 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The business had revenue of $78.42 million for the quarter, compared to the consensus estimate of $79.02 million. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts expect that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.1265 dividend. The ex-dividend date is Thursday, December 31st. This represents a c) annualized dividend and a dividend yield of 6.7%. Four Corners Property Trust’s payout ratio is 132.43%.

Institutional Investors Weigh In On Four Corners Property Trust

A number of hedge funds have recently bought and sold shares of FCPT. Sequoia Financial Advisors LLC purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $249,000. Integrated Wealth Concepts LLC purchased a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $45,000. IFP Advisors Inc boosted its stake in shares of Four Corners Property Trust by 105.8% during the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 583 shares during the last quarter. Allworth Financial LP grew its position in shares of Four Corners Property Trust by 42.8% during the second quarter. Allworth Financial LP now owns 2,765 shares of the financial services provider’s stock worth $68,000 after buying an additional 829 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Four Corners Property Trust by 3.9% during the second quarter. Arizona State Retirement System now owns 30,282 shares of the financial services provider’s stock worth $743,000 after buying an additional 1,144 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc (NYSE:FCPT) is a self-administered and self-managed real estate investment trust that owns and leases properties primarily used by restaurant and other service-oriented businesses. The company generally leases its properties under long-term, net lease arrangements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant properties and also includes select medical, automotive and other retail or service-related real estate.