Wells Fargo & Company Forecasts Strong Price Appreciation for Four Corners Property Trust (NYSE:FCPT) Stock

Four Corners Property Trust (NYSE:FCPT) had its price target hoisted by Wells Fargo & Company from $30.00 to $31.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

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

Four Corners Property Trust Trading Down 1.8 %

NYSE:FCPT opened at $27.65 on Monday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.76 billion, a PE ratio of 25.84 and a beta of 1.16. The firm’s 50 day moving average is $27.81 and its 200 day moving average is $28.41. 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 posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. Sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 5.14%. Four Corners Property Trust’s payout ratio is 132.71%.

Hedge Funds Weigh In On Four Corners Property Trust

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of Four Corners Property Trust by 234.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 817 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Four Corners Property Trust by 165.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 860 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at approximately $39,000. GF Fund Management CO. LTD. bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at approximately $46,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at approximately $48,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Company Profile

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.