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

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FCPT. UBS Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Weiss Ratings cut shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Huntington assumed coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price target on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $28.00 price objective on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, Jefferies Financial Group set a $28.00 price target on Four Corners Property Trust in a research report on Tuesday, August 25th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average price target of $27.90.

Four Corners Property Trust Stock Down 0.7%

The firm has a market capitalization of $2.47 billion, a PE ratio of 20.31 and a beta of 0.79. The stock has a 50-day simple moving average of $25.08 and a 200-day simple moving average of $24.96. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results 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. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The firm had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts forecast that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.1265 per share. The ex-dividend date of this dividend 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%.

Hedge Funds Weigh In On Four Corners Property Trust

Large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Four Corners Property Trust by 105.8% during the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 583 shares in the last quarter. Huntington National Bank grew its stake in Four Corners Property Trust by 114.1% in the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after buying an additional 836 shares in the last quarter. Bessemer Group Inc. raised its holdings in Four Corners Property Trust by 326.1% during the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,262 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Four Corners Property Trust during the 2nd quarter valued at $45,000. Finally, Nykredit A S bought a new stake in Four Corners Property Trust during the 2nd quarter valued at $49,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

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.