Four Corners Property Trust (NYSE:FCPT) Given New $31.00 Price Target at Evercore ISI

Four Corners Property Trust (NYSE:FCPTGet Rating) had its price objective boosted by Evercore ISI from $29.00 to $31.00 in a report released on Monday morning, The Fly reports.

FCPT has been the topic of a number of other research reports. Raymond James decreased their target price on Four Corners Property Trust from $33.00 to $30.00 and set an outperform rating on the stock in a research report on Tuesday, September 6th. Berenberg Bank lowered Four Corners Property Trust from a buy rating to a hold rating and decreased their target price for the company from $31.00 to $30.00 in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Janney Montgomery Scott lowered Four Corners Property Trust to a neutral rating in a research report on Tuesday, August 9th. Finally, Credit Suisse Group started coverage on Four Corners Property Trust in a research report on Wednesday, June 22nd. They set a neutral rating and a $26.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $29.40.

Four Corners Property Trust Trading Up 1.7 %

Four Corners Property Trust stock opened at $27.07 on Monday. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.97. Four Corners Property Trust has a 12 month low of $24.24 and a 12 month high of $30.13. The stock’s 50 day simple moving average is $27.92 and its two-hundred day simple moving average is $27.36. The firm has a market cap of $2.21 billion, a PE ratio of 22.37 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPTGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.12). Four Corners Property Trust had a return on equity of 10.01% and a net margin of 44.68%. During the same period in the previous year, the business posted $0.38 earnings per share. Analysts anticipate that Four Corners Property Trust will post 1.58 earnings per share for the current year.

Four Corners Property Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.3325 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.33 dividend on an annualized basis and a yield of 4.91%. Four Corners Property Trust’s payout ratio is currently 109.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCPT. Harbor Investment Advisory LLC lifted its holdings in Four Corners Property Trust by 859.1% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,218 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,091 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Four Corners Property Trust in the 2nd quarter valued at $33,000. Pinebridge Investments L.P. lifted its holdings in Four Corners Property Trust by 347.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,341 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,041 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Four Corners Property Trust in the 1st quarter worth $37,000. Finally, WASHINGTON TRUST Co acquired a new stake in shares of Four Corners Property Trust in the 1st quarter worth $41,000. Hedge funds and other institutional investors own 94.65% of the company’s stock.

About Four Corners Property Trust

(Get Rating)

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

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