UBS Group Initiates Coverage on Four Corners Property Trust (NYSE:FCPT)

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

Several other equities research analysts have also recently issued reports on FCPT. Raymond James lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Finally, Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Four Corners Property Trust Stock Up 1.1 %

NYSE FCPT opened at $28.22 on Thursday. Four Corners Property Trust has a 12 month low of $22.38 and a 12 month high of $30.93. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.73 billion, a PE ratio of 26.37 and a beta of 1.11. The stock’s 50 day moving average is $28.93 and its 200 day moving average is $26.87.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Four Corners Property Trust’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. Research analysts predict that Four Corners Property Trust will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 5.03%. Four Corners Property Trust’s payout ratio is 128.97%.

Institutional Trading of Four Corners Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of FCPT. Boston Trust Walden Corp raised its stake in shares of Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after acquiring an additional 191,259 shares during the period. Creative Planning raised its position in Four Corners Property Trust by 13.3% in the 3rd quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after purchasing an additional 3,315 shares during the period. Vanguard Group Inc. lifted its stake in Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after purchasing an additional 116,453 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after buying an additional 102,662 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Four Corners Property Trust during the third quarter valued at approximately $243,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

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.