Four Corners Property Trust (NYSE:FCPT) Now Covered by Huntington Sec

Huntington Sec began coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research report released on Wednesday morning,Zacks reports. The brokerage issued a strong-buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on FCPT. Huntington assumed coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price for the company. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Barclays dropped their price objective on shares of Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. UBS Group reissued a “buy” rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average price target of $26.70.

Four Corners Property Trust Stock Up 0.6%

Shares of FCPT opened at $22.47 on Wednesday. Four Corners Property Trust has a 52 week low of $20.85 and a 52 week high of $26.86. The firm has a market cap of $2.47 billion, a P/E ratio of 20.61 and a beta of 0.80. The firm’s 50-day simple moving average is $22.88 and its 200 day simple moving average is $24.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.14 and a current ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The firm had revenue of $83.68 million for the quarter, compared to the consensus estimate of $82.44 million. Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. Four Corners Property Trust’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. On average, analysts forecast that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.1265 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio is presently 134.86%.

Institutional Trading of Four Corners Property Trust

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in shares of 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 valued at $28,000 after purchasing an additional 583 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Four Corners Property Trust by 326.1% during the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,262 shares during the last quarter. Covestor Ltd lifted its position in shares of Four Corners Property Trust by 40.0% during the 3rd quarter. Covestor Ltd now owns 1,799 shares of the financial services provider’s stock worth $39,000 after buying an additional 514 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Four Corners Property Trust in the second quarter valued at about $45,000. Finally, Nykredit A S acquired a new stake in Four Corners Property Trust in the second quarter valued at about $49,000. 98.66% of the stock is owned by institutional investors and hedge funds.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.