Four Corners Property Trust, Inc. (NYSE:FCPT) Given Consensus Recommendation of “Hold” by Brokerages

Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of equities analysts recently commented on FCPT shares. Raymond James lifted their price target on shares of Four Corners Property Trust from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, January 9th. StockNews.com initiated coverage on shares of Four Corners Property Trust in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Robert W. Baird decreased their price objective on shares of Four Corners Property Trust from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, October 7th. Finally, Evercore ISI lowered shares of Four Corners Property Trust from an “outperform” rating to an “inline” rating and set a $28.00 price objective for the company. in a report on Monday, November 21st.

Four Corners Property Trust Stock Performance

Shares of NYSE:FCPT opened at $28.23 on Monday. Four Corners Property Trust has a 52 week low of $22.67 and a 52 week high of $30.13. The stock has a market capitalization of $2.37 billion, a P/E ratio of 22.95 and a beta of 0.87. The firm has a fifty day simple moving average of $26.80 and a two-hundred day simple moving average of $26.65. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.90.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were issued a $0.34 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.36 annualized dividend and a dividend yield of 4.82%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.33. Four Corners Property Trust’s payout ratio is currently 110.57%.

Institutional Investors Weigh In On Four Corners Property Trust

Several large investors have recently modified their holdings of FCPT. Macquarie Group Ltd. raised its holdings in shares of Four Corners Property Trust by 347.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,523,593 shares of the financial services provider’s stock valued at $40,561,000 after purchasing an additional 1,182,740 shares in the last quarter. Millennium Management LLC raised its stake in shares of Four Corners Property Trust by 3,063.1% during the 2nd quarter. Millennium Management LLC now owns 822,438 shares of the financial services provider’s stock worth $21,869,000 after acquiring an additional 796,437 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of Four Corners Property Trust by 71.3% during the 3rd quarter. Centersquare Investment Management LLC now owns 1,645,217 shares of the financial services provider’s stock worth $39,798,000 after acquiring an additional 684,835 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Four Corners Property Trust by 74.6% during the 3rd quarter. Nuveen Asset Management LLC now owns 1,571,736 shares of the financial services provider’s stock worth $38,020,000 after acquiring an additional 671,366 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Four Corners Property Trust by 15.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,712,173 shares of the financial services provider’s stock worth $125,296,000 after acquiring an additional 637,518 shares in the last quarter. Institutional investors own 94.71% of the company’s stock.

Four Corners Property Trust Company Profile

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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.