Four Corners Property Trust (NYSE:FCPT) Stock Gets Price Target Trim from Citizens Jmp

Four Corners Property Trust (NYSE:FCPT) had its price target reduced by Citizens Jmp from $28.00 to $26.00 in a report published on Monday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the financial services provider’s stock.

FCPT has been the topic of a number of other research reports. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday. Jefferies Financial Group set a $28.00 price target on Four Corners Property Trust in a report on Tuesday, August 25th. Barclays dropped their price target on Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. Royal Bank Of Canada set a $26.00 price objective on Four Corners Property Trust in a research note on Monday. Finally, Wells Fargo & Company decreased their price objective on shares of Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.45.

Four Corners Property Trust Stock Up 2.4%

Shares of Four Corners Property Trust stock opened at $23.71 on Monday. The company has a fifty day moving average price of $22.76 and a 200 day moving average price of $24.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.58. Four Corners Property Trust has a twelve month low of $20.85 and a twelve month high of $26.86. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 12.79 and a beta of 0.77.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The firm had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. During the same period last year, the business earned $0.45 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts forecast that Four Corners Property Trust will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.1265 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 139.45%.

Insider Transactions at Four Corners Property Trust

In other news, CEO William Lenehan purchased 10,000 shares of Four Corners Property Trust stock in a transaction dated Monday, November 2nd. The stock was bought at an average price of $22.61 per share, with a total value of $226,100.00. Following the completion of the acquisition, the chief executive officer owned 789,857 shares in the company, valued at $17,858,666.77. The trade was a 1.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several institutional investors have recently modified their holdings of FCPT. IFP Advisors Inc raised its holdings in Four Corners Property Trust by 105.8% during the second quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 583 shares in the last quarter. Bessemer Group Inc. boosted its stake in Four Corners Property Trust by 326.1% during the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,262 shares in the last quarter. Covestor Ltd boosted its stake in Four Corners Property Trust by 40.0% during the 3rd quarter. Covestor Ltd now owns 1,799 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 514 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Four Corners Property Trust during the 2nd quarter valued at $45,000. Finally, Nykredit A S acquired a new position in shares of Four Corners Property Trust during the 2nd quarter valued at $49,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.