Four Corners Property Trust (NYSE:FCPT) Now Covered by UBS Group

UBS Group began coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $33.00 target price on the financial services provider’s stock.

FCPT has been the subject of several other reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Raymond James increased their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their target price on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Four Corners Property Trust Trading Up 1.1 %

Four Corners Property Trust stock opened at $28.22 on Thursday. Four Corners Property Trust has a 12 month low of $22.38 and a 12 month high of $30.93. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 26.37 and a beta of 1.11. The business’s fifty day simple moving average is $28.93 and its two-hundred day simple moving average is $26.87. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The firm had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. As a group, equities analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.355 dividend. The ex-dividend date of this dividend 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 annualized dividend and a yield of 5.03%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Institutional Investors Weigh In On Four Corners Property Trust

A number of hedge funds have recently modified their holdings of FCPT. Covestor Ltd lifted its position in Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Four Corners Property Trust by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after buying an additional 527 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Four Corners Property Trust by 5.6% during the 3rd quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock valued at $348,000 after buying an additional 635 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Four Corners Property Trust by 24.0% during 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. Finally, Arizona State Retirement System increased its holdings in Four Corners Property Trust by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 863 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

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.