Evercore ISI Cuts Four Corners Property Trust (NYSE:FCPT) Price Target to $26.00

Four Corners Property Trust (NYSE:FCPT) had its target price reduced by Evercore ISI from $29.00 to $26.00 in a research report report published on Monday morning, MarketBeat.com reports. Evercore ISI currently has an in-line rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on FCPT. Robert W. Baird set a $29.00 price target on shares of Four Corners Property Trust in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Barclays cut their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Wells Fargo & Company reduced their price target on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Finally, Wall Street Zen raised Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Hold” and a consensus target price of $28.00.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $23.44 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.49 billion, a P/E ratio of 21.51 and a beta of 0.86. The business’s 50 day moving average price is $23.86 and its 200-day moving average price is $25.31. Four Corners Property Trust has a 52 week low of $22.80 and a 52 week high of $29.81.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The business had revenue of $74.15 million during the quarter, compared to analysts’ expectations of $71.86 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.3665 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.47 dividend on an annualized basis and a yield of 6.3%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.36. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 130.28%.

Insider Buying and Selling at Four Corners Property Trust

In other news, Director Douglas B. Hansen purchased 1,984 shares of the stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $23.64 per share, with a total value of $46,901.76. Following the acquisition, the director directly owned 78,247 shares of the company’s stock, valued at $1,849,759.08. This represents a 2.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FCPT. Parallel Advisors LLC grew its stake in shares of Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares during the period. Trust Co. of Toledo NA OH bought a new stake in Four Corners Property Trust during the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new stake in Four Corners Property Trust during the second quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd raised its position in Four Corners Property Trust by 1,632.6% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 1,551 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Four Corners Property Trust by 1,389.5% during the 1st quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 1,584 shares during the last quarter. Institutional investors 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.