Four Corners Property Trust, Inc. (NYSE:FCPT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.60.

Several analysts have recently commented on FCPT shares. Raymond James raised their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an "outperform" rating in a research note on Wednesday, August 21st. UBS Group started coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They issued a "buy" rating and a $33.00 price objective for the company. JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Wells Fargo & Company reissued an "overweight" rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Finally, Evercore ISI upped their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an "in-line" rating in a report on Wednesday, August 28th.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in FCPT. Sanctuary Advisors LLC lifted its stake in Four Corners Property Trust by 44.9% in the third quarter. Sanctuary Advisors LLC now owns 27,967 shares of the financial services provider's stock valued at $818,000 after purchasing an additional 8,666 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Four Corners Property Trust by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider's stock valued at $69,101,000 after buying an additional 27,552 shares during the period. Vestcor Inc purchased a new position in shares of Four Corners Property Trust during the 3rd quarter valued at $109,000. Barclays PLC grew its stake in shares of Four Corners Property Trust by 109.5% during the 3rd quarter. Barclays PLC now owns 156,021 shares of the financial services provider's stock worth $4,572,000 after acquiring an additional 81,565 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Four Corners Property Trust by 2.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 116,480 shares of the financial services provider's stock worth $3,414,000 after acquiring an additional 2,600 shares during the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Trading Down 1.4 %

FCPT traded down $0.39 during midday trading on Tuesday, hitting $28.11. 835,758 shares of the company were exchanged, compared to its average volume of 518,276. The firm's 50 day moving average price is $28.72 and its 200-day moving average price is $27.58. Four Corners Property Trust has a 1-year low of $22.38 and a 1-year high of $30.93. The firm has a market capitalization of $2.72 billion, a P/E ratio of 26.27 and a beta of 1.12. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. During the same quarter in the previous year, the business posted $0.42 EPS. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Four Corners Property Trust will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.05%. This is an increase from Four Corners Property Trust's previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.