Four Corners Property Trust (NYSE:FCPT) Price Target Lowered to $29.00 at Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT) had its price objective reduced by Wells Fargo & Company from $30.00 to $29.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. UBS Group boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Raymond James Financial dropped their price target on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Finally, Barclays lowered their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Four Corners Property Trust Stock Up 0.7%

FCPT opened at $25.90 on Wednesday. The business’s 50-day simple moving average is $26.32 and its 200-day simple moving average is $27.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. Four Corners Property Trust has a one year low of $25.00 and a one year high of $30.93. The stock has a market capitalization of $2.70 billion, a P/E ratio of 23.98 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Analysts anticipate that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.5%. Four Corners Property Trust’s payout ratio is 131.48%.

Insider Activity at Four Corners Property Trust

In other news, Director John S. Moody sold 7,667 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the sale, the director owned 53,821 shares of the company’s stock, valued at $1,475,771.82. The trade was a 12.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of FCPT. Mariner LLC lifted its stake in Four Corners Property Trust by 2.8% in the 4th quarter. Mariner LLC now owns 17,098 shares of the financial services provider’s stock valued at $464,000 after buying an additional 467 shares in the last quarter. First Trust Advisors LP lifted its stake in Four Corners Property Trust by 23.7% in the 4th quarter. First Trust Advisors LP now owns 212,941 shares of the financial services provider’s stock valued at $5,779,000 after buying an additional 40,831 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Four Corners Property Trust by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,343,034 shares of the financial services provider’s stock valued at $36,451,000 after buying an additional 29,449 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Four Corners Property Trust by 8.6% in the 4th quarter. MetLife Investment Management LLC now owns 60,421 shares of the financial services provider’s stock valued at $1,640,000 after buying an additional 4,764 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Four Corners Property Trust by 18.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,848 shares of the financial services provider’s stock valued at $322,000 after buying an additional 1,811 shares in 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 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.