Four Corners Property Trust (NYSE:FCPT) Given New $30.00 Price Target at Barclays

Four Corners Property Trust (NYSE:FCPT) had its target price cut by Barclays from $31.00 to $30.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

FCPT has been the topic of a number of other reports. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. UBS Group started coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.40.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $27.98 on Tuesday. The company has a market capitalization of $2.71 billion, a PE ratio of 26.15 and a beta of 1.14. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust has a twelve month low of $22.38 and a twelve month high of $30.93. The firm has a fifty day simple moving average of $27.79 and a 200 day simple moving average of $28.20.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.355 per share. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is 132.71%.

Institutional Investors Weigh In On Four Corners Property Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of Four Corners Property Trust by 13.3% in the 3rd 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 in the last quarter. Thrivent Financial for Lutherans raised its holdings in Four Corners Property Trust by 6.1% during the third quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock worth $10,236,000 after buying an additional 20,028 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Four Corners Property Trust by 211.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock valued at $4,679,000 after buying an additional 108,345 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Four Corners Property Trust by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock valued at $69,101,000 after buying an additional 27,552 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Four Corners Property Trust by 91.2% during the fourth quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock valued at $268,000 after buying an additional 4,708 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.