Four Corners Property Trust’s (FCPT) Market Perform Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of Four Corners Property Trust (NYSE:FCPT) in a research report sent to investors on Tuesday,Benzinga reports.

FCPT has been the subject of several other reports. Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. UBS Group started coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective for the company. Raymond James increased 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. Finally, Evercore ISI lifted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $29.28 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $28.72 and a 200 day moving average price of $27.44. The firm has a market capitalization of $2.83 billion, a PE ratio of 27.36 and a beta of 1.12. 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 posted its earnings results 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). The company had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Four Corners Property Trust’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. Research analysts anticipate that Four Corners Property Trust will post 1.66 earnings per share 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. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.85%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is presently 128.97%.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted 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 valued at $91,000 after purchasing an additional 3,467 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of Four Corners Property Trust by 18.7% during the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after acquiring an additional 191,259 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Four Corners Property Trust by 3.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock valued at $1,142,000 after purchasing an additional 1,400 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Four Corners Property Trust by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after purchasing an additional 22,792 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Four Corners Property Trust by 5.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock worth $1,836,000 after purchasing an additional 3,597 shares during the period. 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.