Four Corners Property Trust (NYSE:FCPT) Hits New 12-Month Low - Time to Sell?

Key Points

• Shares of Four Corners Property Trust hit a new 12-month low of $24.96, prompting discussions on whether it's time to sell.
• Analysts have mixed sentiments about the stock, with target prices ranging from $27.00 to $31.00, and a current consensus rating of "Hold."
• The company announced a quarterly dividend of $0.355 per share with a dividend yield of 5.8%, scheduled for payment on October 15th.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $24.96 and last traded at $24.97, with a volume of 75272 shares changing hands. The stock had previously closed at $25.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FCPT. Barclays dropped their price target on 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 dropped their price target on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. UBS Group increased their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $27.00 target price (down from $29.00) on shares of Four Corners Property Trust in a research report on Thursday, September 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.00.

Four Corners Property Trust Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The company has a 50 day moving average price of $25.84 and a 200 day moving average price of $26.98. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 22.87 and a beta of 0.86.

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

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Four Corners Property Trust's payout ratio is 131.48%.

Insider Buying and Selling

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 7,850 shares of Four Corners Property Trust stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the purchase, the chief executive officer owned 698,426 shares of the company's stock, valued at approximately $17,740,020.40. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Niccole Stewart sold 3,950 shares of the business's stock in a transaction 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 transaction, the chief accounting officer owned 27,502 shares of the company's stock, valued at $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. Insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently modified their holdings of FCPT. D. E. Shaw & Co. Inc. bought a new position in Four Corners Property Trust in the fourth quarter worth about $206,000. Quantinno Capital Management LP grew its holdings in shares of Four Corners Property Trust by 25.2% during the fourth quarter. Quantinno Capital Management LP now owns 10,511 shares of the financial services provider's stock valued at $285,000 after buying an additional 2,114 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Four Corners Property Trust by 56.3% during the fourth quarter. Two Sigma Investments LP now owns 373,709 shares of the financial services provider's stock valued at $10,142,000 after buying an additional 134,664 shares during the last quarter. Voloridge Investment Management LLC lifted its position in Four Corners Property Trust by 24.5% during the fourth quarter. Voloridge Investment Management LLC now owns 360,369 shares of the financial services provider's stock valued at $9,780,000 after purchasing an additional 71,000 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Four Corners Property Trust by 1.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 260,842 shares of the financial services provider's stock valued at $7,079,000 after purchasing an additional 4,697 shares during the period. 98.66% of the stock is owned by institutional investors.

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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