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Four Corners Property Trust (NYSE:FCPT) Price Target Cut to $29.00 by Analysts at Raymond James Financial

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Four Corners Property Trust (NYSE:FCPT - Free Report) had its price objective cut by Raymond James Financial from $31.00 to $29.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

A number of other research firms also recently weighed in on FCPT. UBS Group reduced their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Four Corners Property Trust has an average rating of "Moderate Buy" and an average price target of $29.40.

Read Our Latest Report on FCPT

Four Corners Property Trust Trading Up 0.8%

Four Corners Property Trust stock traded up $0.21 during mid-day trading on Thursday, reaching $25.45. 919,549 shares of the company traded hands, compared to its average volume of 612,600. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The firm's 50 day moving average price is $26.96 and its 200 day moving average price is $27.56. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 23.57 and a beta of 0.84. Four Corners Property Trust has a 52-week low of $25.00 and a 52-week high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $72.84 million for the quarter, compared to the consensus estimate of $70.27 million. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The company's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.355 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.6%. Four Corners Property Trust's dividend payout ratio is currently 131.48%.

Insider Buying and Selling

In other news, Director John S. Moody sold 7,667 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the transaction, the director owned 53,821 shares in the company, valued at $1,475,771.82. This trade represents a 12.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company's stock.

Institutional Trading of Four Corners Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of FCPT. American Century Companies Inc. boosted its stake in shares of Four Corners Property Trust by 3.3% in the 4th quarter. American Century Companies Inc. now owns 26,379 shares of the financial services provider's stock valued at $716,000 after buying an additional 841 shares during the period. Sei Investments Co. acquired a new position in Four Corners Property Trust during the fourth quarter worth approximately $229,000. KLP Kapitalforvaltning AS acquired a new position in Four Corners Property Trust during the fourth quarter worth approximately $524,000. LPL Financial LLC increased its position in Four Corners Property Trust by 10.4% during the fourth quarter. LPL Financial LLC now owns 28,783 shares of the financial services provider's stock worth $781,000 after buying an additional 2,721 shares during the period. Finally, Vanguard Group Inc. increased its position in Four Corners Property Trust by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock worth $295,146,000 after buying an additional 240,230 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

(Get Free Report)

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.

Further Reading

Analyst Recommendations for Four Corners Property Trust (NYSE:FCPT)

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