Four Corners Property Trust (NYSE:FCPT) Share Price Passes Below 50-Day Moving Average - Should You Sell?

Key Points

• FCPT shares fell below their 50-day moving average, trading as low as $22.88 and last changing hands near $23.05, below the $25.17 average.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $27.90—roughly above the reported trading price.
• The company reported quarterly EPS of $0.45, beating estimates of $0.29, while revenue rose 7.7% year over year. FCPT also declared a monthly dividend of $0.1265 per share, implying a 6.6% annualized yield.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report)'s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $25.17 and traded as low as $22.88. Four Corners Property Trust shares last traded at $23.0530, with a volume of 1,864,618 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCPT. Huntington initiated coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 price target for the company. Citizens Jmp reissued a "market outperform" rating and issued a $28.00 price target on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. UBS Group reaffirmed a "buy" rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Finally, Barclays increased their target price on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.90.

Four Corners Property Trust Stock Down 1.9%

The company has a market capitalization of $2.53 billion, a P/E ratio of 20.77 and a beta of 0.79. The company has a 50-day moving average of $25.17 and a two-hundred day moving average of $25.00. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.16. The business had revenue of $78.42 million during the quarter, compared to the consensus estimate of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, research analysts predict that Four Corners Property Trust, Inc. will post 1.76 EPS 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. Stockholders of record on Thursday, December 31st will be given a $0.1265 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust's payout ratio is currently 132.43%.

Institutional Trading of Four Corners Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in FCPT. IFP Advisors Inc boosted its position in shares of Four Corners Property Trust by 105.8% during the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 583 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Four Corners Property Trust by 1.8% in the second quarter. Handelsbanken Fonder AB now owns 34,095 shares of the financial services provider's stock valued at $837,000 after acquiring an additional 600 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Four Corners Property Trust by 44.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,181 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 667 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Four Corners Property Trust by 3.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 24,276 shares of the financial services provider's stock worth $560,000 after acquiring an additional 700 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Four Corners Property Trust by 3.8% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 20,229 shares of the financial services provider's stock worth $478,000 after acquiring an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Company Profile

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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