Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Average Rating of “Hold” from Brokerages

by · The Markets Daily

Shares of Four Corners Property Trust, Inc. (NYSE:FCPTGet Free Report) have received an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.80.

A number of research firms have recently commented on FCPT. Barclays dropped their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price target (down from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Tuesday, October 14th. Robert W. Baird set a $29.00 target price on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Finally, Raymond James Financial cut their target price on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st.

Get Our Latest Report on FCPT

Insider Buying and Selling at Four Corners Property Trust

In other news, Director Douglas B. Hansen acquired 1,984 shares of Four Corners Property Trust stock in a transaction on Friday, October 31st. The stock was bought at an average price of $23.64 per share, for a total transaction of $46,901.76. Following the transaction, the director owned 78,247 shares of the company’s stock, valued at $1,849,759.08. The trade was a 2.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Niccole Stewart sold 3,950 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the sale, the chief accounting officer owned 27,502 shares in the company, valued at approximately $695,800.60. This represents a 12.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FCPT. Callodine Capital Management LP bought a new stake in Four Corners Property Trust in the third quarter valued at $18,673,000. Nuveen LLC acquired a new stake in shares of Four Corners Property Trust in the 1st quarter valued at $18,291,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Four Corners Property Trust by 444.7% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 653,350 shares of the financial services provider’s stock worth $15,942,000 after purchasing an additional 533,408 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in shares of Four Corners Property Trust by 63.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider’s stock worth $38,539,000 after purchasing an additional 519,633 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Four Corners Property Trust during the 1st quarter worth about $14,350,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 1.8%

Four Corners Property Trust stock traded up $0.42 during mid-day trading on Friday, hitting $24.00. 967,121 shares of the company’s stock were exchanged, compared to its average volume of 612,236. Four Corners Property Trust has a 1-year low of $23.05 and a 1-year high of $30.12. The stock has a 50 day moving average of $24.29 and a two-hundred day moving average of $25.81. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.55 billion, a P/E ratio of 22.01 and a beta of 0.88.

Four Corners Property Trust (NYSE:FCPTGet Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The business had revenue of $74.15 million for the quarter, compared to analyst estimates of $71.86 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts anticipate that Four Corners Property Trust will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a yield of 6.1%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 130.28%.

Four Corners Property Trust Company Profile

(Get Free Report)

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.

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