Four Corners Property Trust (NYSE:FCPT) Hits New 1-Year Low - Here's What Happened

Key Points

• Four Corners Property Trust (NYSE: FCPT) reached a new 52-week low at $23.95, closing at $24.00 on Monday, with analysts providing mixed ratings and target price adjustments.
• The company announced a quarterly dividend of $0.355 per share, reflecting a yield of 6.0%, despite a high dividend payout ratio of 131.48%.
• FCPT's latest quarterly earnings report showed an EPS of $0.44, exceeding expectations, with revenue increasing 9.6% year-over-year to $72.84 million.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $23.95 and last traded at $24.00, with a volume of 18652 shares trading hands. The stock had previously closed at $24.26.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FCPT shares. Wells Fargo & Company restated an "equal weight" rating and issued a $27.00 target price (down previously from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Four Corners Property Trust in a report on Saturday, September 27th. Barclays reduced 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 report on Wednesday, August 20th. UBS Group lifted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Finally, Raymond James Financial decreased their target price on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Four Corners Property Trust presently has a consensus rating of "Hold" and an average price target of $29.00.

Four Corners Property Trust Stock Down 2.0%

The stock's fifty day moving average is $25.43 and its two-hundred day moving average is $26.72. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The firm has a market cap of $2.48 billion, a P/E ratio of 22.00 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $72.84 million during the quarter, compared to analyst estimates of $70.27 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company's revenue was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.355 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.42 dividend on an annualized basis and a yield of 6.0%. Four Corners Property Trust's dividend payout ratio is 131.48%.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 7,850 shares of the firm's stock in a transaction on Friday, September 12th. The shares were acquired at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the transaction, the chief executive officer owned 698,426 shares of the company's stock, valued at approximately $17,740,020.40. The trade was a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Niccole Stewart sold 3,950 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the transaction, the chief accounting officer owned 27,502 shares of the company's stock, valued at approximately $695,800.60. This trade represents 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 corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FCPT. Inspire Investing LLC grew its stake in shares of Four Corners Property Trust by 2.2% during the 2nd quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider's stock worth $471,000 after purchasing an additional 383 shares during the period. CWM LLC grew its position in shares of Four Corners Property Trust by 15.0% in the first quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock valued at $85,000 after purchasing an additional 389 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Four Corners Property Trust by 5.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider's stock valued at $238,000 after purchasing an additional 450 shares during the period. Palisades Investment Partners LLC grew its position in shares of Four Corners Property Trust by 1.5% in the first quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider's stock valued at $912,000 after purchasing an additional 459 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Four Corners Property Trust by 3.1% in the second quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider's stock valued at $509,000 after purchasing an additional 568 shares during the period. Institutional investors and hedge funds 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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