Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Four Corners Property Trust has a consensus rating of “Moderate Buy” from six research firms, with an average 1-year target price of $29.40.
• The company's quarterly earnings report showed $0.44 earnings per share, exceeding estimates, with revenue of $72.84 million for the quarter, up 9.6% year-over-year.
• Four Corners Property Trust recently announced a quarterly dividend of $0.355 per share, representing an annualized yield of 5.5%, with a payout ratio of 131.48%.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $29.40.

A number of analysts have issued reports on FCPT shares. Barclays reduced their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. UBS Group lifted their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Finally, Raymond James Financial reduced their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st.

Four Corners Property Trust Stock Up 0.9%

Shares of NYSE FCPT opened at $26.0120 on Friday. Four Corners Property Trust has a one year low of $25.00 and a one year high of $30.93. The firm's 50 day simple moving average is $26.41 and its two-hundred day simple moving average is $27.34. The stock has a market capitalization of $2.72 billion, a P/E ratio of 24.09 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. During the same period in the previous year, the firm earned $0.43 EPS. The business's quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Four Corners Property Trust will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.355 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.5%. Four Corners Property Trust's payout ratio is presently 131.48%.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the sale, the director owned 53,821 shares of the company's stock, valued at $1,475,771.82. The trade was a 12.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP increased its position in shares of Four Corners Property Trust by 42.9% during the 2nd quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider's stock valued at $38,836,000 after purchasing an additional 433,108 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $261,000. Public Sector Pension Investment Board increased its position in shares of Four Corners Property Trust by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 342,521 shares of the financial services provider's stock valued at $9,217,000 after purchasing an additional 25,501 shares during the last quarter. Evergreen Capital Management LLC bought a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $214,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Four Corners Property Trust by 5.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 230,017 shares of the financial services provider's stock valued at $6,194,000 after purchasing an additional 12,257 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

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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