Four Corners Property Trust (NYSE:FCPT) Price Target Raised to $31.00

Four Corners Property Trust (NYSE:FCPT) had its price objective hoisted by Wells Fargo & Company from $30.00 to $31.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on FCPT. Barclays dropped their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. UBS Group began coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 target price for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $27.65 on Monday. Four Corners Property Trust has a 12-month low of $22.38 and a 12-month high of $30.93. The stock’s 50 day moving average price is $27.81 and its two-hundred day moving average price is $28.41. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 25.84 and a beta of 1.16.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. On average, analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.355 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.14%. Four Corners Property Trust’s payout ratio is currently 132.71%.

Institutional Trading of Four Corners Property Trust

A number of large investors have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Four Corners Property Trust by 30.6% in the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after buying an additional 3,268,064 shares during the period. Vanguard Group Inc. grew its stake in shares of Four Corners Property Trust by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider’s stock valued at $295,146,000 after buying an additional 240,230 shares during the period. Invesco Ltd. grew its stake in shares of Four Corners Property Trust by 2.9% in the 4th quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock valued at $83,395,000 after buying an additional 85,476 shares during the period. Geode Capital Management LLC grew its stake in shares of Four Corners Property Trust by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider’s stock valued at $66,651,000 after buying an additional 98,120 shares during the period. Finally, Capital International Investors grew its stake in shares of Four Corners Property Trust by 25.4% in the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider’s stock valued at $61,538,000 after buying an additional 459,542 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.