Four Corners Property Trust (NYSE:FCPT) Stock Gets Price Target Trim from Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT) had its target price trimmed by Wells Fargo & Company from $26.00 to $22.00 in a report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on the company. Citizens Jmp reissued a “market outperform” rating and set a $28.00 price target on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. Huntington began coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price objective for the company. Finally, UBS Group reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.91.

Four Corners Property Trust Stock Down 3.2%

Shares of NYSE:FCPT opened at $21.17 on Monday. The stock has a market cap of $2.32 billion, a P/E ratio of 12.14 and a beta of 0.80. The firm has a fifty day moving average price of $23.29 and a 200 day moving average price of $24.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. Four Corners Property Trust has a 1-year low of $20.85 and a 1-year high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The company had revenue of $78.42 million for the quarter, compared to the consensus estimate of $79.02 million. During the same period last year, the firm posted $0.44 EPS. Four Corners Property Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that Four Corners Property Trust will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.1265 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.2%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.43%.

Institutional Trading of Four Corners Property Trust

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Four Corners Property Trust during the second quarter worth about $490,406,000. Lasalle Investment Management Securities LLC increased its stake in Four Corners Property Trust by 79.9% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock valued at $60,680,000 after purchasing an additional 1,139,493 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Four Corners Property Trust by 75.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock valued at $55,469,000 after purchasing an additional 1,010,648 shares in the last quarter. Callodine Capital Management LP increased its stake in Four Corners Property Trust by 19.6% in the 1st quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock valued at $37,027,000 after purchasing an additional 256,325 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Four Corners Property Trust by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider’s stock worth $35,100,000 after purchasing an additional 16,891 shares during 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 is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.