Boenning Scattergood started coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research report released on Thursday, MarketBeat reports. The firm issued an outperform rating and a $30.00 target price on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on FCPT. TheStreet upgraded shares of Four Corners Property Trust from a c rating to a b rating in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Four Corners Property Trust from a hold rating to a strong sell rating in a research note on Thursday, October 25th.

FCPT stock traded down $0.07 during trading on Thursday, reaching $28.38. The stock had a trading volume of 11,634 shares, compared to its average volume of 277,405. Four Corners Property Trust has a 1-year low of $21.28 and a 1-year high of $28.41. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.95 and a quick ratio of 2.95. The firm has a market capitalization of $1.86 billion, a P/E ratio of 20.82 and a beta of 0.08.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). Four Corners Property Trust had a return on equity of 13.21% and a net margin of 57.05%. The firm had revenue of $36.12 million during the quarter, compared to analyst estimates of $36.38 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Four Corners Property Trust will post 1.41 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Stockholders of record on Friday, January 4th will be paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Thursday, January 3rd. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.28. Four Corners Property Trust’s dividend payout ratio is 80.88%.

In related news, CFO Gerald R. Morgan sold 3,400 shares of the stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $27.03, for a total transaction of $91,902.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Four Corners Property Trust by 12.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,918 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 1,991 shares during the period. Louisiana State Employees Retirement System raised its stake in Four Corners Property Trust by 7.3% during the third quarter. Louisiana State Employees Retirement System now owns 29,500 shares of the financial services provider’s stock worth $758,000 after acquiring an additional 2,000 shares during the period. Rhumbline Advisers raised its stake in Four Corners Property Trust by 1.5% during the second quarter. Rhumbline Advisers now owns 159,602 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 2,327 shares during the period. Texas Permanent School Fund raised its stake in Four Corners Property Trust by 6.1% during the third quarter. Texas Permanent School Fund now owns 42,056 shares of the financial services provider’s stock worth $1,080,000 after acquiring an additional 2,434 shares during the period. Finally, Aperio Group LLC raised its stake in Four Corners Property Trust by 4.6% during the third quarter. Aperio Group LLC now owns 55,321 shares of the financial services provider’s stock worth $1,421,000 after acquiring an additional 2,440 shares during the period. Hedge funds and other institutional investors own 91.10% of the company’s stock.

About Four Corners Property Trust

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 related food services industry.

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