Four Corners Property Trust (NYSE:FCPT) Sets New 1-Year Low - Time to Sell?

Key Points

• Four Corners Property Trust shares fell to a new 52-week low of $22.15, trading about 1.6% lower and below both its 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a generally positive outlook: FCPT has a “Moderate Buy” consensus rating and an average price target of $27.90, roughly above the recent trading price.
• The company reported quarterly EPS of $0.45, beating estimates, while revenue rose 7.7% year over year. FCPT also declared a monthly dividend of $0.1265, representing an approximately 6.9% annualized yield, though its payout ratio is elevated at 132.43%.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $22.15 and last traded at $22.0350, with a volume of 32188 shares traded. The stock had previously closed at $22.44.

Wall Street Analysts Forecast Growth

FCPT has been the topic of several research reports. Huntington began coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They issued an "outperform" rating and a $27.00 price target on the stock. Barclays increased their price objective on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, September 4th. Citizens Jmp reissued a "market outperform" rating and issued a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. UBS Group reissued a "buy" rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Finally, Weiss Ratings downgraded Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.90.

Four Corners Property Trust Trading Down 1.6%

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 firm's 50-day simple moving average is $24.97 and its 200 day simple moving average is $24.91. The stock has a market cap of $2.42 billion, a P/E ratio of 19.88 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.16. The business 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%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. As a group, equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a $0.1265 dividend. The ex-dividend date is Thursday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. Four Corners Property Trust's dividend payout ratio (DPR) is 132.43%.

Institutional Trading of Four Corners Property Trust

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Four Corners Property Trust during the 2nd quarter valued at about $490,406,000. Lasalle Investment Management Securities LLC bought a new position in Four Corners Property Trust during the fourth quarter worth $32,889,000. Bank of America Corp DE acquired a new position in shares of Four Corners Property Trust during the second quarter valued at about $29,000,000. Bank of New York Mellon Corp acquired a new stake in shares of Four Corners Property Trust during the 2nd quarter valued at about $25,196,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Four Corners Property Trust by 75.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider's stock worth $55,469,000 after purchasing an additional 1,010,648 shares during the period. Hedge funds and other institutional investors own 98.66% of the company's stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc NYSE: FCPT is a self-administered and self-managed real estate investment trust that owns and leases properties primarily used by restaurant and other service-oriented businesses. The company generally leases its properties under long-term, net lease arrangements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT's portfolio is concentrated in restaurant properties and also includes select medical, automotive and other retail or service-related real estate.

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