Four Corners Property Trust (NYSE:FCPT) Hits New 12-Month High at $27.74

Four Corners Property Trust, Inc. (NYSE:FCPT)’s stock price reached a new 52-week high on Monday . The company traded as high as $27.74 and last traded at $27.63, with a volume of 7208 shares traded. The stock had previously closed at $27.49.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JMP Securities started coverage on shares of Four Corners Property Trust in a report on Monday, July 8th. They issued a “market perform” rating on the stock. Wells Fargo & Company upgraded Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Finally, Raymond James upped their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average price target of $26.67.

Four Corners Property Trust Trading Up 0.7 %

The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08. The company has a quick ratio of 0.14, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $26.10 and a 200-day moving average price of $24.73.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.48 million for the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. As a group, research analysts expect that Four Corners Property Trust, Inc. will post 1.65 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Friday, June 28th. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

Insider Activity

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

Institutional Trading of Four Corners Property Trust

Several institutional investors have recently added to or reduced their stakes in FCPT. Larson Financial Group LLC boosted its holdings in shares of Four Corners Property Trust by 25,000.0% in the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,000 shares during the period. CWM LLC boosted its stake in Four Corners Property Trust by 183.5% in the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 888 shares during the period. Eagle Bay Advisors LLC grew its holdings in shares of Four Corners Property Trust by 66.7% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 600 shares during the last quarter. Covestor Ltd raised its position in shares of Four Corners Property Trust by 23.2% during the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 470 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Four Corners Property Trust in the 4th quarter worth approximately $66,000. Institutional investors own 98.66% of the company’s stock.

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.