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

Four Corners Property Trust, Inc. (NYSE:FCPT) has received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $27.73.

Several research analysts recently commented on the company. UBS Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Huntington began coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently modified their holdings of FCPT. BlackRock Inc. bought a new stake in Four Corners Property Trust in the second quarter valued at $490,406,000. Bank of America Corp DE acquired a new position in Four Corners Property Trust during the second quarter worth $29,000,000. Lasalle Investment Management Securities LLC lifted its holdings in shares of Four Corners Property Trust by 79.9% during the first 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 acquiring an additional 1,139,493 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Four Corners Property Trust during the second quarter valued at $25,196,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of 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. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

FCPT traded down $0.14 on Tuesday, hitting $21.36. 17,314 shares of the stock traded hands, compared to its average volume of 856,900. The business has a fifty day moving average price of $23.76 and a two-hundred day moving average price of $24.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.34 billion, a PE ratio of 19.23 and a beta of 0.80. Four Corners Property Trust has a 52 week low of $20.85 and a 52 week high of $26.86.

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

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.1265 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio is currently 132.43%.

About Four Corners Property Trust

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.