Four Corners Property Trust (NYSE:FCPT) Earns Overweight Rating from Wells Fargo & Company

Wells Fargo & Company reissued their overweight rating on shares of Four Corners Property Trust (NYSE:FCPT) in a report published on Tuesday, Benzinga reports. The brokerage currently has a $32.00 price objective on the financial services provider’s stock, up from their previous price objective of $28.00.

A number of other research analysts have also commented on the company. Evercore ISI upped their price target 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. JMP Securities reiterated a market perform rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Finally, Raymond James upped their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an outperform rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $28.75.

Four Corners Property Trust Trading Down 0.5 %

FCPT opened at $28.87 on Tuesday. The business has a 50 day simple moving average of $28.36 and a two-hundred day simple moving average of $25.82. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 26.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13. Four Corners Property Trust has a one year low of $20.51 and a one year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The business had revenue of $66.48 million for the quarter, compared to the consensus estimate of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. Analysts predict that Four Corners Property Trust will post 1.66 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.345 per share. The ex-dividend date is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.78%. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Institutional Trading of Four Corners Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in FCPT. Larson Financial Group LLC grew its stake in shares of Four Corners Property Trust by 25,000.0% in the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,000 shares during the last quarter. Covestor Ltd grew its stake in shares of Four Corners Property Trust by 23.2% in the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after buying an additional 470 shares during the last quarter. Blue Trust Inc. grew its stake 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 worth $91,000 after buying an additional 3,467 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Four Corners Property Trust by 491.0% in the 1st quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock worth $195,000 after buying an additional 6,624 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in Four Corners Property Trust during the 2nd quarter valued at $229,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

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.