Four Corners Property Trust (NYSE:FCPT) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $31.00 target price on the financial services provider’s stock.

Other research analysts have also issued reports about the company. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. 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 note on Wednesday, August 21st. Evercore ISI boosted their target price on 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. UBS Group assumed coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.60.

Four Corners Property Trust Stock Down 1.4 %

Shares of NYSE:FCPT opened at $28.11 on Tuesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 26.27 and a beta of 1.12. The stock’s 50-day moving average price is $28.72 and its two-hundred day moving average price is $27.58. Four Corners Property Trust has a 12-month low of $22.38 and a 12-month high of $30.93.

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

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Tuesday, December 31st. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

Institutional Trading of Four Corners Property Trust

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Four Corners Property Trust by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock worth $1,142,000 after acquiring an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Four Corners Property Trust by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after acquiring an additional 22,792 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Four Corners Property Trust by 5.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock valued at $1,836,000 after purchasing an additional 3,597 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Four Corners Property Trust by 12.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,934 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 3,636 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

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.