Four Corners Property Trust, Inc. (NYSE:FCPT) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Four Corners Property Trust, Inc. (NYSE:FCPT) has received an average analyst rating of "Hold", with four ratings suggesting hold and two recommending buy, and an average target price of $29.00.
• CEO William H. Lenehan recently purchased 7,850 shares of the company, while the CAO sold 3,950 shares, reflecting different levels of confidence in the company.
• The company announced a quarterly dividend of $0.355, to be paid on October 15th, representing an annualized yield of 5.8%.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) have been assigned an average rating of "Hold" from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $29.00.

FCPT has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Wells Fargo & Company reiterated an "equal weight" rating and set a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a research report on Thursday, September 11th. Barclays lowered their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 20th. Raymond James Financial reduced their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Four Corners Property Trust in a research note on Saturday, September 27th.

Insider Activity

In related news, CEO William H. Lenehan purchased 7,850 shares of the business's stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the acquisition, the chief executive officer owned 698,426 shares in the company, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total transaction of $99,935.00. Following the completion of the transaction, the chief accounting officer directly owned 27,502 shares of the company's stock, valued at $695,800.60. The trade was a 12.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Four Corners Property Trust

Several hedge funds have recently made changes to their positions in the business. Trust Co. of Toledo NA OH acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC acquired a new position in Four Corners Property Trust during the 2nd quarter worth approximately $37,000. Costello Asset Management INC acquired a new position in shares of Four Corners Property Trust in the 1st quarter valued at approximately $40,000. Brooklyn Investment Group increased its holdings in shares of Four Corners Property Trust by 1,389.5% in the 1st quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 1,584 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Four Corners Property Trust in the first quarter worth $77,000. Institutional investors and hedge funds own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

Shares of FCPT stock traded down $0.07 during mid-day trading on Friday, hitting $24.29. 595,121 shares of the stock traded hands, compared to its average volume of 768,047. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 22.49 and a beta of 0.87. The company's 50-day simple moving average is $25.43 and its 200-day simple moving average is $26.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. Four Corners Property Trust has a twelve month low of $24.01 and a twelve month high of $30.12.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The company had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. During the same period last year, the company earned $0.43 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Four Corners Property Trust's dividend payout ratio (DPR) is currently 131.48%.

About Four Corners Property Trust

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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