Four Corners Property Trust (NYSE:FCPT) Shares Cross Above 50-Day Moving Average on Analyst Downgrade

Four Corners Property Trust, Inc. (NYSE:FCPT) passed above its fifty day moving average during trading on Monday after Barclays raised their price target on the stock from $29.00 to $30.00. The stock has a fifty day moving average of $22.84 and traded as high as $23.36. Barclays currently has an equal weight rating on the stock. Four Corners Property Trust shares last traded at $23.2410, with a volume of 1,408,778 shares trading hands.

Other equities research analysts also recently issued research reports about the stock. Citizens Jmp reiterated a “market outperform” rating and set a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. UBS Group restated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Finally, Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. One equities 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 stock. According to data from MarketBeat, Four Corners Property Trust has an average rating of “Moderate Buy” and an average price target of $26.45.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William Lenehan acquired 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was bought at an average price of $22.61 per share, with a total value of $226,100.00. Following the completion of the transaction, the chief executive officer directly owned 789,857 shares of the company’s stock, valued at approximately $17,858,666.77. The trade was a 1.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in Four Corners Property Trust in the second quarter valued at about $15,215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Four Corners Property Trust by 15,777.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 653,820 shares of the financial services provider’s stock worth $16,051,000 after buying an additional 649,702 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Four Corners Property Trust in the second quarter valued at approximately $2,061,000. Corient Private Wealth LP bought a new position in Four Corners Property Trust during the 2nd quarter worth $2,584,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Four Corners Property Trust in the 2nd quarter worth about $1,112,000. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Up 3.4%

The firm’s 50 day simple moving average is $22.84 and its 200 day simple moving average is $24.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 21.32 and a beta of 0.80.

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

Four Corners Property Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.1265 per share. This represents a $1.52 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 134.86%.

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.