Four Corners Property Trust, Inc. (NYSE:FCPT) Stock Has Average Target Price of $27.73 According to Brokerages

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $27.36.

Several brokerages have recently commented on FCPT. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. JPMorgan Chase & Co. reduced their price target on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Barclays lifted their price objective 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. Citizens Jmp restated a “market outperform” rating and set a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a report on Tuesday, August 25th.

Four Corners Property Trust Stock Down 1.8%

Shares of NYSE FCPT opened at $21.58 on Tuesday. The stock has a market capitalization of $2.37 billion, a P/E ratio of 12.22 and a beta of 0.80. The stock’s fifty day moving average is $23.42 and its 200 day moving average is $24.48. Four Corners Property Trust has a 52 week low of $20.85 and a 52 week high of $26.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) 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 business had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. Four Corners Property Trust’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. Sell-side analysts forecast that Four Corners Property Trust will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.1265 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.0%. Four Corners Property Trust’s payout ratio is 132.43%.

Institutional Trading of Four Corners Property Trust

Several institutional investors and hedge funds have recently modified their holdings of FCPT. Abel Hall LLC raised its position in Four Corners Property Trust by 27.9% in the third quarter. Abel Hall LLC now owns 12,812 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 2,798 shares during the last quarter. Rye Brook Capital LLC boosted its stake in shares of Four Corners Property Trust by 15.0% during the third quarter. Rye Brook Capital LLC now owns 168,105 shares of the financial services provider’s stock valued at $3,658,000 after purchasing an additional 21,960 shares in the last quarter. Pensionfund Sabic boosted its stake in shares of Four Corners Property Trust by 36.6% during the third quarter. Pensionfund Sabic now owns 28,000 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 7,500 shares in the last quarter. Pensionfund PDN boosted its stake in shares of Four Corners Property Trust by 29.2% during the third quarter. Pensionfund PDN now owns 57,500 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Four Corners Property Trust during the second quarter valued at about $249,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust that owns and manages a portfolio of primarily restaurant and retail properties. The company generally leases its properties to tenants under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Four Corners was formed through a 2015 spin-off from Darden Restaurants, Inc, separating Darden’s real estate assets from its restaurant operating business.