Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Four Corners Property Trust, Inc. (NYSE:FCPT) has been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $27.90.

A number of research firms recently issued reports on FCPT. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Citizens Jmp reiterated a “market outperform” rating and issued a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. UBS Group reissued a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Wells Fargo & Company raised their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Finally, Weiss Ratings cut shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th.

Four Corners Property Trust Stock Down 0.5%

FCPT stock opened at $22.12 on Friday. The stock has a market cap of $2.43 billion, a P/E ratio of 19.93 and a beta of 0.79. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock’s fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $24.86. Four Corners Property Trust has a 1-year low of $22.02 and a 1-year high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.16. The firm had revenue of $78.42 million during the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.44 EPS. Analysts expect that Four Corners Property Trust will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a $0.1265 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FCPT. IFP Advisors Inc increased its holdings in Four Corners Property Trust by 105.8% in the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 583 shares during the last quarter. Huntington National Bank lifted its holdings in Four Corners Property Trust by 114.1% during the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 836 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Four Corners Property Trust by 326.1% during the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,262 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Four Corners Property Trust during the second quarter worth about $45,000. Finally, Nykredit A S bought a new position in Four Corners Property Trust during the second quarter worth about $49,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc (NYSE:FCPT) is a self-administered and self-managed real estate investment trust that owns and leases properties primarily used by restaurant and other service-oriented businesses. The company generally leases its properties under long-term, net lease arrangements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant properties and also includes select medical, automotive and other retail or service-related real estate.