Four Corners Property Trust (NYSE:FCPT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Four Corners Property Trust (NYSE:FCPT) from a sell rating to a hold rating in a report released on Sunday morning.

Several other research firms have also weighed in on FCPT. Barclays cut their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 20th. Raymond James Financial dropped their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. UBS Group lifted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price target (down from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.75.

Four Corners Property Trust Price Performance

Shares of FCPT stock opened at $24.66 on Friday. Four Corners Property Trust has a 52-week low of $23.64 and a 52-week high of $30.12. The stock has a market cap of $2.58 billion, a PE ratio of 22.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The firm’s 50 day moving average price is $25.07 and its two-hundred day moving average price is $26.38.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The firm had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $70.27 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts forecast that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.355 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust’s payout ratio is presently 131.48%.

Insider Activity

In related news, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total transaction of $99,935.00. Following the completion of the sale, the chief accounting officer owned 27,502 shares of the company’s stock, valued at approximately $695,800.60. The trade was a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William H. Lenehan bought 7,850 shares of Four Corners Property Trust stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $25.40 per share, with a total value of $199,390.00. Following the acquisition, the chief executive officer directly owned 698,426 shares in the company, valued at $17,740,020.40. This trade represents a 1.14% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Four Corners Property Trust by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider’s stock worth $323,602,000 after purchasing an additional 400,396 shares in the last quarter. State Street Corp raised its stake in Four Corners Property Trust by 2.0% in the 2nd quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock worth $158,408,000 after purchasing an additional 116,711 shares in the last quarter. Geode Capital Management LLC raised its stake in Four Corners Property Trust by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock worth $71,910,000 after purchasing an additional 68,415 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Four Corners Property Trust by 23.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock worth $58,125,000 after purchasing an additional 417,134 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Four Corners Property Trust by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider’s stock worth $52,912,000 after purchasing an additional 21,205 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

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.