Four Corners Property Trust, Inc. (NYSE:FCPT) Stock Has Average Price Target of $26.45 According to Analysts

Four Corners Property Trust, Inc. (NYSE:FCPT) has received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $26.45.

Several brokerages have recently weighed in on FCPT. Weiss Ratings cut Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Royal Bank Of Canada set a $26.00 price target on Four Corners Property Trust in a report on Monday, November 2nd. Huntington assumed coverage on Four Corners Property Trust in a research report on Wednesday, October 28th. They set a “strong-buy” rating on the stock. JPMorgan Chase & Co. lowered their price objective on Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Finally, Barclays dropped their target price on Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th.

Four Corners Property Trust Price Performance

FCPT traded down $0.27 on Friday, hitting $23.41. 756,555 shares of the company’s stock were exchanged, compared to its average volume of 1,157,484. Four Corners Property Trust has a fifty-two week low of $20.85 and a fifty-two week high of $26.86. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 21.48 and a beta of 0.77. The firm has a 50-day moving average price of $22.69 and a 200-day moving average price of $24.45. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.58.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The business had revenue of $83.68 million during the quarter, compared to analysts’ expectations of $82.44 million. During the same period in the prior year, the business posted $0.45 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.1265 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 6.5%. Four Corners Property Trust’s payout ratio is presently 139.45%.

Insider Activity

In other news, CEO William Lenehan acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average cost of $22.61 per share, for a total transaction of $226,100.00. Following the completion of the transaction, the chief executive officer owned 789,857 shares in the company, valued at approximately $17,858,666.77. This trade represents a 1.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Four Corners Property Trust during the second quarter worth $490,406,000. Lasalle Investment Management Securities LLC lifted its stake in Four Corners Property Trust by 79.9% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock worth $60,680,000 after acquiring an additional 1,139,493 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Four Corners Property Trust by 75.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock worth $55,469,000 after acquiring an additional 1,010,648 shares in the last quarter. Callodine Capital Management LP boosted its holdings in Four Corners Property Trust by 19.6% during the 1st quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock valued at $37,027,000 after acquiring an additional 256,325 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Four Corners Property Trust by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider’s stock valued at $35,100,000 after acquiring an additional 16,891 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.