Four Corners Property Trust (NYSE:FCPT) Trading Up 3.7%

Four Corners Property Trust, Inc. (NYSE:FCPTGet Rating) shares were up 3.7% during trading on Wednesday . The company traded as high as $27.45 and last traded at $27.45. Approximately 15,334 shares were traded during trading, a decline of 95% from the average daily volume of 296,320 shares. The stock had previously closed at $26.46.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FCPT shares. Berenberg Bank cut Four Corners Property Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $31.00 to $30.00 in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Raymond James lowered their target price on Four Corners Property Trust from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, September 6th. Evercore ISI upped their price objective on Four Corners Property Trust from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, September 12th. Credit Suisse Group started coverage on Four Corners Property Trust in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $26.00 price objective on the stock. Finally, Janney Montgomery Scott lowered Four Corners Property Trust to a “neutral” rating in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.40.

Four Corners Property Trust Stock Down 3.9 %

The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 21.37 and a beta of 0.87. The firm’s 50 day moving average price is $27.80 and its two-hundred day moving average price is $27.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.85 and a quick ratio of 2.85.

Four Corners Property Trust (NYSE:FCPTGet Rating) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.12). Four Corners Property Trust had a return on equity of 10.01% and a net margin of 44.68%. During the same quarter last year, the company posted $0.38 EPS. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.58 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.333 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Thursday, September 29th. Four Corners Property Trust’s dividend payout ratio is currently 109.92%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FCPT. Macquarie Group Ltd. increased its holdings in Four Corners Property Trust by 347.0% in the second quarter. Macquarie Group Ltd. now owns 1,523,593 shares of the financial services provider’s stock valued at $40,561,000 after buying an additional 1,182,740 shares in the last quarter. Millennium Management LLC increased its holdings in Four Corners Property Trust by 3,063.1% in the second quarter. Millennium Management LLC now owns 822,438 shares of the financial services provider’s stock valued at $21,869,000 after buying an additional 796,437 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Four Corners Property Trust by 15.6% in the second quarter. Victory Capital Management Inc. now owns 4,712,173 shares of the financial services provider’s stock valued at $125,296,000 after buying an additional 637,518 shares in the last quarter. Invesco Ltd. increased its holdings in Four Corners Property Trust by 21.0% in the fourth quarter. Invesco Ltd. now owns 2,475,394 shares of the financial services provider’s stock valued at $72,800,000 after buying an additional 428,790 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Four Corners Property Trust by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 9,456,757 shares of the financial services provider’s stock worth $255,711,000 after purchasing an additional 312,407 shares in the last quarter. 94.65% of the stock is owned by hedge funds and other institutional investors.

About Four Corners Property Trust

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FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.

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