Four Corners Property Trust (NYSE:FCPT) Reaches New 12-Month Low – Should You Sell?

Four Corners Property Trust, Inc. (NYSE:FCPT)’s share price reached a new 52-week low on Monday . The stock traded as low as $24.31 and last traded at $24.33, with a volume of 830973 shares. The stock had previously closed at $24.45.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 15th. Raymond James Financial lowered their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price objective (down previously from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Finally, 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 research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.00.

Four Corners Property Trust Stock Performance

The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 22.53 and a beta of 0.86. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock’s 50-day simple moving average is $25.61 and its 200 day simple moving average is $26.82.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $72.84 million during 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 business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 131.48%.

Insider Transactions at Four Corners Property Trust

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

Hedge Funds Weigh In On Four Corners Property Trust

A number of large investors have recently modified their holdings of the company. Inspire Investing LLC lifted its position in Four Corners Property Trust by 2.2% during the second quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 383 shares during the last quarter. CWM LLC increased its position in Four Corners Property Trust by 15.0% during the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 389 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Four Corners Property Trust by 5.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider’s stock worth $238,000 after buying an additional 450 shares during the period. Palisades Investment Partners LLC boosted its stake in Four Corners Property Trust by 1.5% in the 1st quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 459 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Four Corners Property Trust by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock valued at $509,000 after acquiring an additional 568 shares during the period. 98.66% of the stock is currently owned by institutional investors.

About Four Corners Property Trust

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.