Four Corners Property Trust (NYSE:FCPT) Reaches New 52-Week Low – What’s Next?

Four Corners Property Trust, Inc. (NYSE:FCPT) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.15 and last traded at $22.0350, with a volume of 32188 shares changing hands. The stock had previously closed at $22.44.

Wall Street Analysts Forecast Growth

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

Four Corners Property Trust Stock Down 1.6%

The firm’s 50-day moving average is $24.97 and its two-hundred day moving average is $24.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market cap of $2.42 billion, a P/E ratio of 19.88 and a beta of 0.79.

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

Four Corners Property Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.1265 per share. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio is 132.43%.

Institutional Trading of Four Corners Property Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Four Corners Property Trust during the 2nd quarter worth about $490,406,000. Lasalle Investment Management Securities LLC bought a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $32,889,000. Bank of America Corp DE acquired a new stake in shares of Four Corners Property Trust during the 2nd quarter worth approximately $29,000,000. Bank of New York Mellon Corp acquired a new stake in shares of Four Corners Property Trust during the 2nd quarter worth approximately $25,196,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Four Corners Property Trust by 75.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock worth $55,469,000 after buying an additional 1,010,648 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

About Four Corners Property Trust

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.