Analysts Set Four Corners Property Trust, Inc. (NYSE:FCPT) Target Price at $29.00

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $29.00.

Several research analysts have recently commented on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price objective (down previously from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Barclays reduced their price target on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Four Corners Property Trust in a research report on Saturday, September 27th. Raymond James Financial dropped their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Finally, UBS Group lifted their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 15th.

Four Corners Property Trust Trading Down 0.3%

Shares of FCPT opened at $24.29 on Friday. Four Corners Property Trust has a fifty-two week low of $24.01 and a fifty-two week high of $30.12. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 22.49 and a beta of 0.87. The firm has a 50 day moving average price of $25.43 and a 200-day moving average price of $26.72. 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 (NYSE:FCPT) last issued 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. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The company had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $70.27 million. During the same quarter last year, the company earned $0.43 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.355 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.8%. Four Corners Property Trust’s payout ratio is presently 131.48%.

Insider Activity

In other news, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total transaction of $99,935.00. Following the completion of the sale, the chief accounting officer directly owned 27,502 shares in the company, valued at approximately $695,800.60. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William H. Lenehan bought 7,850 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the purchase, the chief executive officer directly owned 698,426 shares of the company’s stock, valued at $17,740,020.40. The trade was a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its stake in Four Corners Property Trust by 29.0% in the second quarter. Osaic Holdings Inc. now owns 12,943 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 2,910 shares during the period. Orion Porfolio Solutions LLC increased its position in Four Corners Property Trust by 40.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 9,873 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 2,822 shares during the period. Thrivent Financial for Lutherans raised its holdings in Four Corners Property Trust by 52.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 111,599 shares of the financial services provider’s stock worth $3,003,000 after purchasing an additional 38,168 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in shares of Four Corners Property Trust by 42.9% in the 2nd quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider’s stock worth $38,836,000 after purchasing an additional 433,108 shares during the period. Finally, Caxton Associates LLP purchased a new stake in shares of Four Corners Property Trust in the 2nd quarter worth about $261,000. 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.