Four Corners Property Trust (NYSE:FCPT) Earns Buy Rating from Analysts at UBS Group

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

Several other research firms also recently weighed in on FCPT. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Raymond James lifted their price target on 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 raised their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research 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. 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 Stock Performance

NYSE FCPT traded up $0.18 during trading hours on Thursday, reaching $28.10. 284,248 shares of the company were exchanged, compared to its average volume of 512,092. 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 stock has a market capitalization of $2.72 billion, a P/E ratio of 26.07 and a beta of 1.11. Four Corners Property Trust has a 1 year low of $22.38 and a 1 year high of $30.93. The business’s 50 day simple moving average is $28.95 and its 200-day simple moving average is $26.80.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. During the same period last year, the company posted $0.42 earnings per share. Four Corners Property Trust’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.355 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors have recently bought and sold shares of the stock. Boston Trust Walden Corp lifted its position in Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after purchasing an additional 191,259 shares during the last quarter. Creative Planning grew its stake in shares of Four Corners Property Trust by 13.3% in the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after purchasing an additional 3,315 shares during the last quarter. Vanguard Group Inc. increased its holdings in Four Corners Property Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after purchasing an additional 116,453 shares during the period. Principal Financial Group Inc. raised its position in Four Corners Property Trust by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after purchasing an additional 102,662 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Four Corners Property Trust by 6.1% in the 2nd quarter. Renaissance Technologies LLC now owns 93,400 shares of the financial services provider’s stock worth $2,304,000 after buying an additional 5,400 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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.