Four Corners Property Trust (NYSE:FCPT) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) saw unusually-high trading volume on Wednesday . Approximately 339,746 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 508,806 shares.The stock last traded at $28.30 and had previously closed at $27.93.

Wall Street Analysts Forecast Growth

FCPT has been the subject of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Evercore ISI increased their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Raymond James upped their target price on shares of 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. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st.

Four Corners Property Trust Price Performance

The stock’s fifty day moving average price is $28.99 and its 200-day moving average price is $26.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $2.69 billion, a PE ratio of 26.07 and a beta of 1.11.

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 for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. As a group, equities analysts expect that Four Corners Property Trust, Inc. will post 1.66 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 Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.355 dividend. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.10%. Four Corners Property Trust’s payout ratio is presently 128.97%.

Institutional Investors Weigh In On Four Corners Property Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd increased its holdings in Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after buying an additional 470 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after buying an additional 527 shares in the last quarter. GAMMA Investing LLC grew its stake in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after buying an additional 814 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Four Corners Property Trust by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock valued at $635,000 after acquiring an additional 863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake 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 period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

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.