Brokerages Set Four Corners Property Trust, Inc. (NYSE:FCPT) PT at $30.40

Four Corners Property Trust, Inc. (NYSE:FCPT) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $30.40.

Several equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective on the stock. Barclays cut their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of 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 worth $408,310,000 after purchasing an additional 3,268,064 shares during the period. Geode Capital Management LLC boosted its holdings in 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 worth $69,101,000 after buying an additional 27,552 shares in the last quarter. Principal Financial Group Inc. grew its position in Four Corners Property Trust by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,822,422 shares of the financial services provider’s stock valued at $49,463,000 after buying an additional 48,319 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Four Corners Property Trust by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider’s stock valued at $43,776,000 after buying an additional 94,903 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Four Corners Property Trust by 9.5% in the third quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock worth $39,061,000 after acquiring an additional 115,924 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Trading Down 0.3 %

Shares of NYSE:FCPT opened at $27.92 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $2.70 billion, a P/E ratio of 26.09 and a beta of 1.14. The business’s 50-day moving average is $27.79 and its 200 day moving average is $28.20. Four Corners Property Trust has a 1 year low of $22.38 and a 1 year high of $30.93.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change 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 5.09%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

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.