Four Corners Property Trust (NYSE:FCPT) Sets New 1-Year Low – What’s Next?

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) hit a new 52-week low during trading on Thursday . The company traded as low as $22.75 and last traded at $22.6770, with a volume of 976934 shares traded. The stock had previously closed at $23.06.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FCPT shares. UBS Group reaffirmed a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Citizens Jmp reiterated a “market outperform” rating and issued a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Wells Fargo & Company raised their target price on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Barclays boosted their target price on Four Corners Property Trust from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.90.

Four Corners Property Trust Trading Down 1.7%

The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2.49 billion, a PE ratio of 20.43 and a beta of 0.79. The business’s 50-day moving average is $25.17 and its two-hundred day moving average is $25.00.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The business had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a $0.1265 dividend. The ex-dividend date is Thursday, December 31st. This represents a c) annualized dividend and a yield of 6.7%. Four Corners Property Trust’s dividend payout ratio is 132.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Four Corners Property Trust in the second quarter valued at $490,406,000. Geode Capital Management LLC grew its holdings in Four Corners Property Trust by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock worth $65,800,000 after acquiring an additional 110,791 shares during the period. Lasalle Investment Management Securities LLC raised its position in Four Corners Property Trust by 79.9% in the first quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock worth $60,680,000 after acquiring an additional 1,139,493 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Four Corners Property Trust by 75.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock valued at $55,469,000 after acquiring an additional 1,010,648 shares during the period. Finally, Callodine Capital Management LP lifted its holdings in Four Corners Property Trust by 19.6% in the first quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock valued at $37,027,000 after acquiring an additional 256,325 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc (NYSE:FCPT) is a self-administered and self-managed real estate investment trust that owns and leases properties primarily used by restaurant and other service-oriented businesses. The company generally leases its properties under long-term, net lease arrangements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant properties and also includes select medical, automotive and other retail or service-related real estate.