Four Corners Property Trust (NYSE:FCPT) Hits New 1-Year Low – What’s Next?

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) hit a new 52-week low during trading on Tuesday. The company traded as low as $21.83 and last traded at $22.0350, with a volume of 1397314 shares changing hands. The stock had previously closed at $22.20.

Wall Street Analysts Forecast Growth

FCPT has been the subject of several research reports. UBS Group reiterated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Huntington assumed coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Barclays boosted their price target on Four Corners Property Trust from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.90.

Four Corners Property Trust Price Performance

The firm has a fifty day moving average price of $24.48 and a two-hundred day moving average price of $24.76. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2.39 billion, a P/E ratio of 19.63 and a beta of 0.79.

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

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.1265 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio is currently 132.43%.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in FCPT. Sequoia Financial Advisors LLC bought a new position in Four Corners Property Trust in the 2nd quarter valued at approximately $249,000. Integrated Wealth Concepts LLC purchased a new stake in Four Corners Property Trust during the 2nd quarter valued at $45,000. IFP Advisors Inc increased its holdings in shares of Four Corners Property Trust by 105.8% in the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 583 shares in the last quarter. Allworth Financial LP raised its stake in shares of Four Corners Property Trust by 42.8% in the second quarter. Allworth Financial LP now owns 2,765 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 829 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Four Corners Property Trust by 3.9% in the second quarter. Arizona State Retirement System now owns 30,282 shares of the financial services provider’s stock worth $743,000 after purchasing an additional 1,144 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 (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.