Analysts Set Four Corners Property Trust, Inc. (NYSE:FCPT) Target Price at $27.00

Four Corners Property Trust, Inc. (NYSE:FCPT) has been assigned a consensus recommendation of “Moderate Buy” from the four brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $27.00.

Several brokerages have commented on FCPT. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Raymond James raised their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company raised Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Evercore ISI lifted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $29.57 on Friday. The stock has a market cap of $2.72 billion, a P/E ratio of 27.64 and a beta of 1.10. The firm’s fifty day simple moving average is $28.19 and its 200 day simple moving average is $25.68. Four Corners Property Trust has a twelve month low of $20.51 and a twelve month high of $30.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.48 million for the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. As a group, research analysts predict that Four Corners Property Trust will post 1.66 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, September 30th. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in Four Corners Property Trust in the 2nd quarter worth about $452,000. Algert Global LLC purchased a new position in Four Corners Property Trust in the 2nd quarter worth about $229,000. The Manufacturers Life Insurance Company raised its position in Four Corners Property Trust by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,170 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 2,063 shares during the last quarter. Earnest Partners LLC raised its position in Four Corners Property Trust by 31.3% in the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after buying an additional 759,749 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Four Corners Property Trust by 14.4% during the 2nd quarter. AQR Capital Management LLC now owns 22,485 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 2,825 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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 retail industries.