Four Corners Property Trust, Inc. (NYSE:FCPT) Stock Has Average Price Target of $27.73

Key Points

• Analysts maintain a “Hold” consensus on Four Corners Property Trust, with six holds and five buy ratings. The average 12-month price target is $27.73, above the stock’s recent price of $21.36.
• Institutional investors and hedge funds own 98.66% of FCPT, with several funds increasing their positions during the third quarter.
• FCPT exceeded quarterly earnings expectations, reporting $0.45 in EPS versus a $0.29 estimate, while revenue rose 7.7% year over year. The company also announced a monthly dividend of $0.1265, implying a 7.1% annualized yield.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) have earned a consensus recommendation of "Hold" from the eleven research firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $27.73.

FCPT has been the subject of several analyst reports. Huntington started coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $27.00 price objective for the company. Citizens Jmp reissued a "market outperform" rating and set a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. JPMorgan Chase & Co. cut their target price on Four Corners Property Trust from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Jefferies Financial Group set a $28.00 price target on Four Corners Property Trust in a research report on Tuesday, August 25th. Finally, Barclays boosted their price target on Four Corners Property Trust from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, September 4th.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rye Brook Capital LLC increased its position in Four Corners Property Trust by 15.0% during the third quarter. Rye Brook Capital LLC now owns 168,105 shares of the financial services provider's stock worth $3,658,000 after acquiring an additional 21,960 shares during the period. Pensionfund Sabic boosted its holdings in Four Corners Property Trust by 36.6% in the 3rd quarter. Pensionfund Sabic now owns 28,000 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 7,500 shares during the period. Pensionfund PDN boosted its holdings in Four Corners Property Trust by 29.2% in the 3rd quarter. Pensionfund PDN now owns 57,500 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 13,000 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Four Corners Property Trust in the 2nd quarter valued at $249,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Four Corners Property Trust in the 2nd quarter worth $45,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Down 0.7%

Shares of NYSE FCPT traded down $0.14 during trading hours on Tuesday, hitting $21.36. The stock had a trading volume of 17,314 shares, compared to its average volume of 856,900. The company has a market capitalization of $2.34 billion, a P/E ratio of 19.23 and a beta of 0.80. The firm's 50-day moving average price is $23.76 and its two-hundred day moving average price is $24.55. Four Corners Property Trust has a 52 week low of $20.85 and a 52 week high of $26.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.16. The firm had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. Analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.1265 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.43%.

Four Corners Property Trust Company Profile

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

Four Corners was formed through a 2015 spin-off from Darden Restaurants, Inc, separating Darden's real estate assets from its restaurant operating business.

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