Four Corners Property Trust (NYSE:FCPT) Sets New 52-Week Low - What's Next?

Key Points

• FCPT hit a new 52-week low of $21.83, trading below its 50-day and 200-day moving averages, with a market capitalization of approximately $2.42 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $27.90, despite mixed individual ratings.
• The company reported quarterly EPS of $0.45, beating estimates, and declared a monthly dividend of $0.1265, equivalent to a 6.9% annualized yield; institutional investors own 98.66% of the stock.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $21.83 and last traded at $22.0350, with a volume of 1397314 shares changing hands. The stock had previously closed at $22.20.

Analysts Set New Price Targets

Several brokerages recently issued reports on FCPT. Barclays raised their target price on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. Weiss Ratings lowered Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Huntington assumed coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $27.00 price target on the stock. Wells Fargo & Company raised their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Finally, Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company 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 current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $24.66 and a 200-day moving average of $24.81. The firm has a market capitalization of $2.42 billion, a P/E ratio of 19.85 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The firm had revenue of $78.42 million for 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%.The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. On average, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 6.9%. Four Corners Property Trust's dividend payout ratio is 132.43%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FCPT. Sequoia Financial Advisors LLC acquired a new position in Four Corners Property Trust in the second quarter valued at about $249,000. Integrated Wealth Concepts LLC bought a new position in Four Corners Property Trust in the 2nd quarter valued at about $45,000. IFP Advisors Inc raised its position in shares of Four Corners Property Trust by 105.8% in the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider's stock valued at $28,000 after buying an additional 583 shares in the last quarter. Allworth Financial LP raised its position in shares of Four Corners Property Trust by 42.8% in the 2nd quarter. Allworth Financial LP now owns 2,765 shares of the financial services provider's stock valued at $68,000 after buying an additional 829 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Four Corners Property Trust by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 30,282 shares of the financial services provider's stock valued at $743,000 after buying an additional 1,144 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

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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