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

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $29.40.

FCPT has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, June 2nd. UBS Group reduced their price objective on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th.

Four Corners Property Trust Stock Down 0.8%

Shares of NYSE:FCPT traded down $0.22 during mid-day trading on Friday, hitting $26.76. 535,910 shares of the company traded hands, compared to its average volume of 669,090. The firm has a market cap of $2.69 billion, a P/E ratio of 25.01 and a beta of 0.84. The firm's 50 day simple moving average is $27.38 and its 200 day simple moving average is $27.66. Four Corners Property Trust has a 52-week low of $24.42 and a 52-week high of $30.93. The company has a debt-to-equity ratio of 0.40, 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 results on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.57% and a return on equity of 7.46%. The business had revenue of $71.48 million for the quarter, compared to analysts' expectations of $67.17 million. During the same quarter last year, the company posted $0.43 earnings per share. The company's quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Monday, June 30th. Four Corners Property Trust's payout ratio is 132.71%.

Insider Activity

In other news, CAO Niccole Stewart sold 9,100 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total transaction of $248,248.00. Following the sale, the chief accounting officer owned 31,204 shares in the company, valued at $851,245.12. The trade was a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John S. Moody sold 7,667 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. This trade represents a 12.47% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds have recently modified their holdings of FCPT. EverSource Wealth Advisors LLC increased its stake in shares of Four Corners Property Trust by 234.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock worth $32,000 after purchasing an additional 817 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Four Corners Property Trust by 165.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock valued at $38,000 after buying an additional 860 shares during the last quarter. Costello Asset Management INC bought a new position in Four Corners Property Trust during the first quarter worth $40,000. VSM Wealth Advisory LLC acquired a new position in shares of Four Corners Property Trust during the fourth quarter valued at about $39,000. Finally, GF Fund Management CO. LTD. acquired a new position in Four Corners Property Trust in the 4th quarter valued at approximately $46,000. 98.66% of the stock is owned by institutional investors and hedge funds.

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.