Four Corners Property Trust (NYSE:FCPT) Sets New 1-Year Low - What's Next?

Key Points

• FCPT shares hit a new 52-week low, trading as low as $22.75 versus a prior close of $23.06, and remained below the 50-day and 200-day moving averages near $25.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $27.90, implying upside from current levels.
• The company beat quarterly EPS expectations, reporting $0.45 versus the $0.29 consensus, while revenue rose 7.7% year over year. FCPT also announced a monthly dividend of $0.1265, representing an annualized yield of about 6.7%.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $22.75 and last traded at $22.6770, with a volume of 976934 shares traded. The stock had previously closed at $23.06.

Analyst Upgrades and Downgrades

A number of research firms have commented on FCPT. Wells Fargo & Company lifted their target price on Four Corners Property Trust from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Monday, June 1st. Citizens Jmp reissued a "market outperform" rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Citigroup restated a "market outperform" rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Finally, UBS Group reiterated a "buy" rating and set a $30.00 price target on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. 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 Price Performance

The company has a fifty day moving average of $25.17 and a 200-day moving average of $25.00. 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 has a market cap of $2.49 billion, a PE ratio of 20.43 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.Four Corners Property Trust's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued 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 6.7%. Four Corners Property Trust's payout ratio is 132.43%.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its position in shares of Four Corners Property Trust by 105.8% during the second quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider's stock worth $28,000 after acquiring an additional 583 shares during the period. Huntington National Bank increased its holdings in Four Corners Property Trust by 114.1% during the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider's stock worth $36,000 after purchasing an additional 836 shares during the period. Bessemer Group Inc. raised its position in Four Corners Property Trust by 326.1% in the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 1,262 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Four Corners Property Trust in the 2nd quarter valued at about $45,000. Finally, Nykredit A S purchased a new position in shares of Four Corners Property Trust in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 98.66% of the company's stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc 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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