Four Corners Property Trust (NYSE:FCPT) Given New $30.00 Price Target at Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT) had its target price cut by Wells Fargo & Company from $31.00 to $30.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

FCPT has been the topic of several other research reports. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Barclays cut their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group cut their price objective on Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $27.58 on Monday. The company has a market cap of $2.77 billion, a P/E ratio of 25.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The business’s 50 day moving average price is $27.61 and its 200-day moving average price is $27.93. Four Corners Property Trust has a fifty-two week low of $23.76 and a fifty-two week high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $71.48 million for the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. Sell-side analysts predict that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend was Monday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Insider Buying and Selling at Four Corners Property Trust

In other news, CAO Niccole Stewart sold 9,100 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $27.28, for a total transaction of $248,248.00. Following the transaction, the chief accounting officer now owns 31,204 shares in the company, valued at approximately $851,245.12. This trade represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

A number of hedge funds have recently added to or reduced their stakes in FCPT. 1620 Investment Advisors Inc. raised its holdings in shares of Four Corners Property Trust by 4.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 363 shares in the last quarter. CWM LLC increased its holdings in Four Corners Property Trust by 15.0% during the first quarter. CWM LLC now owns 2,975 shares of the financial services provider’s stock valued at $85,000 after buying an additional 389 shares during the period. Arizona State Retirement System raised its stake in Four Corners Property Trust by 1.5% in the fourth quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock worth $730,000 after buying an additional 406 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Four Corners Property Trust by 5.4% during the fourth 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. Finally, Palisades Investment Partners LLC lifted its holdings in Four Corners Property Trust by 1.5% during the first quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider’s stock worth $912,000 after buying an additional 459 shares during the period. 98.66% of the stock is owned by hedge funds and other 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.