Brokerages Set Four Corners Property Trust, Inc. (NYSE:FCPT) Target Price at $30.60

Four Corners Property Trust, Inc. (NYSE:FCPT) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings 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 covered the stock in the last year is $30.60.

A number of brokerages have recently issued reports on FCPT. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Barclays assumed coverage on shares of Four Corners Property Trust in a research report on Tuesday, December 17th. They set an “equal weight” rating and a $31.00 price objective for the company. Evercore ISI upped their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Finally, 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 target price for the company.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors have recently bought and sold shares of FCPT. Truvestments Capital LLC acquired a new stake in shares of Four Corners Property Trust in the 3rd quarter worth $51,000. Blue Trust Inc. lifted its holdings in shares of Four Corners Property Trust by 1,469.1% in the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after buying an additional 3,467 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after buying an additional 921 shares during the last quarter. Vestcor Inc purchased a new stake in Four Corners Property Trust in the 3rd quarter worth approximately $109,000. Finally, GAMMA Investing LLC grew its stake in Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 814 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Up 1.6 %

Four Corners Property Trust stock opened at $27.16 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 $2.63 billion, a price-to-earnings ratio of 25.38 and a beta of 1.12. The stock has a fifty day simple moving average of $28.62 and a two-hundred day simple moving average of $27.63. 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 issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 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 during the quarter, compared to the consensus estimate of $63.50 million. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Equities analysts predict that Four Corners Property Trust will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a yield of 5.23%. Four Corners Property Trust’s payout ratio is currently 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.