Four Corners Property Trust (NYSE:FCPT) Sets New 1-Year Low - Here's Why

Key Points

• Four Corners Property Trust shares hit a new 52-week low, falling to $21.27 and trading about 0.4% lower. The stock remains below its 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $27.90 versus the recent trading price.
• The company announced a monthly dividend of $0.1265 per share, equating to an annualized $1.52 payout and a 7.1% yield; institutional investors own approximately 98.66% of the stock.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) shares reached a new 52-week low during trading on Monday. The stock traded as low as $21.27 and last traded at $21.3340, with a volume of 47912 shares changing hands. The stock had previously closed at $21.55.

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of research reports. UBS Group restated a "buy" rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Weiss Ratings lowered Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Citigroup reissued a "market outperform" rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Finally, Huntington started coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.90.

Four Corners Property Trust Stock Down 0.4%

The stock has a market capitalization of $2.35 billion, a P/E ratio of 19.33 and a beta of 0.80. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average price is $24.30 and its two-hundred day moving average price is $24.70.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analysts' expectations of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. Four Corners Property Trust's revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. As a group, research analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.1265 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust's dividend payout ratio is currently 132.43%.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG bought a new position in shares of Four Corners Property Trust in the second quarter worth approximately $15,215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Four Corners Property Trust by 15,777.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 653,820 shares of the financial services provider's stock worth $16,051,000 after purchasing an additional 649,702 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Four Corners Property Trust in the 2nd quarter worth approximately $2,061,000. BlackRock Inc. purchased a new position in Four Corners Property Trust during the second quarter valued at $490,406,000. Finally, Corient Private Wealth LP bought a new position in shares of Four Corners Property Trust during the 2nd quarter valued at about $2,584,000. Hedge funds and other institutional investors own 98.66% of the company's stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust that owns and manages a portfolio of primarily restaurant and retail properties. The company generally leases its properties to tenants under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Four Corners was formed through a 2015 spin-off from Darden Restaurants, Inc, separating Darden's real estate assets from its restaurant operating business.

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