Analysts Set Four Corners Property Trust Inc (NYSE:FCPT) PT at $31.40

Four Corners Property Trust Inc (NYSE:FCPT) has been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $30.25.

A number of research firms recently weighed in on FCPT. Boenning Scattergood restated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Wednesday, April 24th. Berenberg Bank raised Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Barclays assumed coverage on Four Corners Property Trust in a research note on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 target price on the stock. Janney Montgomery Scott assumed coverage on Four Corners Property Trust in a research note on Friday, June 21st. They issued a “buy” rating and a $32.00 target price on the stock. Finally, ValuEngine lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st.

Institutional investors have recently modified their holdings of the business. Royal London Asset Management Ltd. purchased a new position in shares of Four Corners Property Trust during the 1st quarter worth $26,000. Marshall Wace North America L.P. lifted its stake in shares of Four Corners Property Trust by 37.8% during the 1st quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 638 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in shares of Four Corners Property Trust during the 1st quarter worth $101,000. Raymond James Trust N.A. purchased a new position in shares of Four Corners Property Trust during the 1st quarter worth $206,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Four Corners Property Trust during the 2nd quarter worth $208,000. 89.88% of the stock is currently owned by institutional investors.

NYSE FCPT traded up $0.32 on Thursday, hitting $27.17. 318,131 shares of the company’s stock were exchanged, compared to its average volume of 391,794. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $27.54. Four Corners Property Trust has a fifty-two week low of $24.58 and a fifty-two week high of $29.85. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 19.26 and a beta of 0.18.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.10). Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. The business had revenue of $39.57 million for the quarter, compared to analyst estimates of $40.64 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts expect that Four Corners Property Trust will post 1.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Thursday, June 27th. Four Corners Property Trust’s dividend payout ratio is presently 81.56%.

About Four Corners Property Trust

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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