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

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.60.

Several research analysts have recently weighed in on the company. Wells Fargo & Company restated an “overweight” rating and set a $32.00 target price (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 research note on Tuesday, December 10th. Barclays assumed coverage on Four Corners Property Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 target price for the company. Finally, UBS Group initiated coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price target on the stock.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds have recently modified their holdings of the business. Natixis Advisors LLC lifted its position in Four Corners Property Trust by 37.6% in the second quarter. Natixis Advisors LLC now owns 29,832 shares of the financial services provider’s stock valued at $736,000 after buying an additional 8,146 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Four Corners Property Trust by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 335,493 shares of the financial services provider’s stock worth $8,277,000 after acquiring an additional 2,328 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Four Corners Property Trust by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 863 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Four Corners Property Trust by 44.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 45,529 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 14,037 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Four Corners Property Trust by 8.0% in the second quarter. Envestnet Asset Management Inc. now owns 471,955 shares of the financial services provider’s stock valued at $11,643,000 after purchasing an additional 34,980 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Trading Down 0.6 %

Shares of FCPT stock opened at $27.56 on Friday. 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 debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s fifty day moving average is $28.09 and its two-hundred day moving average is $27.99. The firm has a market capitalization of $2.67 billion, a P/E ratio of 25.75 and a beta of 1.13.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The business had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that Four Corners Property Trust will post 1.65 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.355 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.15%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is currently 132.71%.

About Four Corners Property Trust

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.