Four Corners Property Trust, Inc. (NYSE:FCPT) Receives $28.80 Consensus Target Price from Brokerages

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) have been given an average rating of “Hold” by the six brokerages that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.80.

FCPT has been the subject of a number of research reports. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. 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 target price on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Barclays decreased their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 7,850 shares of the stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the transaction, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas B. Hansen purchased 1,984 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $23.64 per share, with a total value of $46,901.76. Following the acquisition, the director owned 78,247 shares in the company, valued at $1,849,759.08. The trade was a 2.60% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its position in shares of Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 463 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in Four Corners Property Trust during the second quarter valued at $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Four Corners Property Trust during the 2nd quarter worth about $37,000. Costello Asset Management INC purchased a new position in shares of Four Corners Property Trust during the 1st quarter valued at about $40,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of Four Corners Property Trust by 1,632.6% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock valued at $40,000 after buying an additional 1,551 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.2%

FCPT stock opened at $23.95 on Friday. The business has a 50 day moving average of $24.26 and a 200 day moving average of $25.76. The firm has a market cap of $2.54 billion, a PE ratio of 21.97 and a beta of 0.88. Four Corners Property Trust has a twelve month low of $23.05 and a twelve month high of $30.12. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

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

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.3665 per share. This represents a $1.47 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Wednesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.36. Four Corners Property Trust’s payout ratio is 130.28%.

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.