Four Corners Property Trust, Inc. (NYSE:FCPT) Stock Has Average Target Price of $26.45

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $26.45.

A number of research analysts recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, November 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Wells Fargo & Company dropped their price objective on shares of Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Barclays decreased their price objective on shares of Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th.

Insider Transactions at Four Corners Property Trust

In related news, CEO William Lenehan purchased 10,000 shares of the stock in a transaction dated Monday, November 2nd. The shares were acquired at an average cost of $22.61 per share, with a total value of $226,100.00. Following the purchase, the chief executive officer directly owned 789,857 shares in the company, valued at $17,858,666.77. This trade represents a 1.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Four Corners Property Trust in the 2nd quarter valued at $490,406,000. Lasalle Investment Management Securities LLC increased its holdings in shares of Four Corners Property Trust by 79.9% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock worth $60,680,000 after buying an additional 1,139,493 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Four Corners Property Trust by 75.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock worth $55,469,000 after buying an additional 1,010,648 shares during the last quarter. Callodine Capital Management LP increased its holdings in shares of Four Corners Property Trust by 19.6% during the 1st quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock worth $37,027,000 after buying an additional 256,325 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Four Corners Property Trust by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider’s stock worth $35,100,000 after buying an additional 16,891 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 1.1%

FCPT stock traded down $0.27 during mid-day trading on Friday, reaching $23.41. The company had a trading volume of 756,555 shares, compared to its average volume of 1,157,484. The firm has a fifty day simple moving average of $22.69 and a 200 day simple moving average of $24.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 21.48 and a beta of 0.77. Four Corners Property Trust has a fifty-two week low of $20.85 and a fifty-two week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The company had revenue of $83.68 million for the quarter, compared to analyst estimates of $82.44 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts forecast that Four Corners Property Trust will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.1265 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 6.5%. Four Corners Property Trust’s dividend payout ratio is 139.45%.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.