Four Corners Property Trust (NYSE:FCPT) Sees Strong Trading Volume

Four Corners Property Trust, Inc. (NYSE:FCPT) shares saw unusually-strong trading volume on Monday . Approximately 478,909 shares changed hands during trading, a decline of 4% from the previous session’s volume of 500,729 shares.The stock last traded at $23.34 and had previously closed at $23.34.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Raymond James reduced their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th.

Four Corners Property Trust Stock Down 2.2 %

The stock’s 50-day moving average price is $23.84 and its 200-day moving average price is $23.54. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 21.06 and a beta of 1.00.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). The firm had revenue of $65.14 million for the quarter, compared to the consensus estimate of $65.23 million. Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. Four Corners Property Trust’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.64 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.345 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.38 annualized dividend and a dividend yield of 6.07%. Four Corners Property Trust’s payout ratio is 127.78%.

Hedge Funds Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in shares of Four Corners Property Trust by 3.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,786 shares of the financial services provider’s stock valued at $299,000 after buying an additional 388 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in Four Corners Property Trust by 2.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,919 shares of the financial services provider’s stock valued at $554,000 after acquiring an additional 442 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Four Corners Property Trust by 7.0% during the second quarter. Ameritas Investment Partners Inc. now owns 7,162 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 466 shares in the last quarter. Strs Ohio increased its holdings in shares of Four Corners Property Trust by 2.8% during the third quarter. Strs Ohio now owns 18,300 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 500 shares in the last quarter. Finally, Prospector Partners LLC raised its position in shares of Four Corners Property Trust by 3.2% during the fourth quarter. Prospector Partners LLC now owns 16,668 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 522 shares during the period. 98.66% of the stock is currently owned by 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.