Four Corners Property Trust, Inc. (NYSE:FCPT) Receives $30.40 Consensus PT from Brokerages

Four Corners Property Trust, Inc. (NYSE:FCPT) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $30.40.

FCPT has been the topic of a number of recent analyst reports. UBS Group assumed coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. Finally, Barclays lowered their price objective 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.

Institutional Investors Weigh In On Four Corners Property Trust

Several hedge funds have recently modified their holdings of the business. Creative Planning boosted its position in Four Corners Property Trust by 13.3% during the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock valued at $825,000 after purchasing an additional 3,315 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Four Corners Property Trust by 6.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock valued at $10,236,000 after buying an additional 20,028 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Four Corners Property Trust by 211.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after buying an additional 108,345 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after acquiring an additional 27,552 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Four Corners Property Trust by 91.2% during the 4th quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 4,708 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 0.3 %

FCPT opened at $27.92 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50 day moving average price is $27.79 and its 200-day moving average price is $28.20. Four Corners Property Trust has a one year low of $22.38 and a one year high of $30.93. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 26.09 and a beta of 1.14.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.355 dividend. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a dividend yield of 5.09%. The ex-dividend date was Tuesday, December 31st. Four Corners Property Trust’s payout ratio is presently 132.71%.

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.