Four Corners Property Trust (NYSE:FCPT) Hits New 52-Week High at $29.89

Four Corners Property Trust Inc (NYSE:FCPT)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $29.89 and last traded at $29.84, with a volume of 3485 shares changing hands. The stock had previously closed at $29.70.

A number of research analysts have commented on the company. JPMorgan Chase & Co. began coverage on Four Corners Property Trust in a research report on Wednesday, December 18th. They set a “neutral” rating and a $30.00 price target for the company. Zacks Investment Research upgraded Four Corners Property Trust from a “strong sell” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Monday, December 16th. Finally, Evercore ISI started coverage on Four Corners Property Trust in a research note on Friday. They set an “outperform” rating and a $34.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Four Corners Property Trust has an average rating of “Buy” and a consensus target price of $31.57.

The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average price is $27.81 and its two-hundred day moving average price is $27.95. The stock has a market cap of $2.05 billion, a P/E ratio of 27.17 and a beta of 0.12.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.06). The company had revenue of $40.18 million during the quarter, compared to analysts’ expectations of $40.49 million. Four Corners Property Trust had a return on equity of 10.90% and a net margin of 47.59%. As a group, analysts expect that Four Corners Property Trust Inc will post 1.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were given a $0.305 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.22 annualized dividend and a dividend yield of 4.08%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.29. Four Corners Property Trust’s dividend payout ratio is currently 86.52%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new stake in shares of Four Corners Property Trust during the 2nd quarter worth approximately $32,000. Point72 Hong Kong Ltd acquired a new position in Four Corners Property Trust in the second quarter valued at approximately $47,000. Marshall Wace North America L.P. lifted its holdings in Four Corners Property Trust by 37.8% in the first quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 638 shares during the last quarter. Optimum Investment Advisors grew its position in Four Corners Property Trust by 34.0% in the third quarter. Optimum Investment Advisors now owns 2,692 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 683 shares during the period. Finally, Griffin Asset Management Inc. purchased a new position in Four Corners Property Trust in the second quarter worth approximately $164,000. Institutional investors own 90.55% of the company’s stock.

Four Corners Property Trust Company Profile (NYSE:FCPT)

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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