Four Corners Property Trust, Inc. (NYSE:FCPT) Receives $28.75 Consensus Price Target from Analysts

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have received an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $28.80.

Several brokerages recently issued reports on FCPT. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Tuesday, October 14th. Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a research report on Wednesday. Wall Street Zen upgraded shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Barclays cut their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Finally, UBS Group raised their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 15th.

Insider Activity at Four Corners Property Trust

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Four Corners Property Trust by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider’s stock valued at $323,602,000 after acquiring an additional 400,396 shares during the last quarter. State Street Corp boosted its position in Four Corners Property Trust by 2.0% in the second quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock valued at $158,408,000 after buying an additional 116,711 shares in the last quarter. Geode Capital Management LLC boosted its position in Four Corners Property Trust by 2.6% in the second quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock valued at $71,910,000 after buying an additional 68,415 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Four Corners Property Trust by 23.9% in the second quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock valued at $58,125,000 after buying an additional 417,134 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Four Corners Property Trust by 1.2% in the first quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider’s stock valued at $52,912,000 after buying an additional 21,205 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Trading Up 0.4%

Four Corners Property Trust stock opened at $23.55 on Tuesday. Four Corners Property Trust has a one year low of $23.05 and a one year high of $30.12. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 21.61 and a beta of 0.87. The firm has a 50-day moving average of $24.87 and a 200-day moving average of $26.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The business had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.86 million. During the same period last year, the business posted $0.43 EPS. Four Corners Property Trust’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.355 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.42 annualized dividend and a dividend yield of 6.0%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 131.48%.

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.