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

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $30.60.

A number of research analysts have recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Barclays assumed coverage on shares of Four Corners Property Trust in a report on Tuesday, December 17th. They set an “equal weight” rating and a $31.00 price objective on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Finally, UBS Group started coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company.

Hedge Funds Weigh In On Four Corners Property Trust

A number of large investors have recently modified their holdings of the business. Verdence Capital Advisors LLC boosted its holdings in Four Corners Property Trust by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock worth $360,000 after buying an additional 527 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Four Corners Property Trust by 5.6% in the 3rd quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 635 shares during the period. GAMMA Investing LLC increased its stake in Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares in the last quarter. Arizona State Retirement System boosted its position in Four Corners Property Trust by 3.5% during the second 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 921 shares during the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Down 2.3 %

Shares of NYSE:FCPT opened at $26.28 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 firm’s 50 day moving average price is $28.17 and its 200 day moving average price is $27.88. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 24.56 and a beta of 1.13.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, October 30th. 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 $66.79 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. As a group, equities research analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company 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 an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.40%. Four Corners Property Trust’s payout ratio is presently 132.71%.

Four Corners Property Trust Company Profile

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.