Barclays Begins Coverage on Four Corners Property Trust (NYSE:FCPT)

Barclays began coverage on shares of Four Corners Property Trust (NYSE:FCPT - Free Report) in a research note released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $31.00 price objective on the financial services provider's stock.

Several other research firms have also commented on FCPT. Evercore ISI boosted 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 research report on Wednesday, August 28th. Raymond James lifted their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the company an "outperform" rating in a research report on Wednesday, August 21st. UBS Group initiated coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They set a "buy" rating and a $33.00 price target for the company. Wells Fargo & Company reissued an "overweight" rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.60.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock traded down $0.39 during midday trading on Tuesday, reaching $28.11. The company's stock had a trading volume of 835,758 shares, compared to its average volume of 518,276. The firm has a market capitalization of $2.72 billion, a PE ratio of 26.27 and a beta of 1.12. Four Corners Property Trust has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The stock's 50 day simple moving average is $28.72 and its 200 day simple moving average is $27.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17.

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

Four Corners Property Trust Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FCPT. FMR LLC grew its holdings in Four Corners Property Trust by 30.6% during the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider's stock valued at $408,310,000 after purchasing an additional 3,268,064 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider's stock valued at $78,667,000 after acquiring an additional 759,749 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Four Corners Property Trust by 1.2% during 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 acquiring an additional 27,552 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider's stock worth $51,996,000 after acquiring an additional 102,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Four Corners Property Trust by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider's stock worth $44,495,000 after acquiring an additional 63,856 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

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.