Four Corners Property Trust (NYSE:FCPT) Shares Cross Above 50-Day Moving Average on Analyst Downgrade

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) passed above its 50-day moving average during trading on Monday after Barclays raised their price target on the stock from $29.00 to $30.00. The stock has a 50-day moving average of $22.84 and traded as high as $23.36. Barclays currently has an equal weight rating on the stock. Four Corners Property Trust shares last traded at $23.2410, with a volume of 1,408,778 shares trading hands.

A number of other research analysts have also recently weighed in on the stock. UBS Group restated a “buy” rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a report on Thursday, July 9th. 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. Wells Fargo & Company increased their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $28.00 price target on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.45.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William Lenehan bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $22.61 per share, for a total transaction of $226,100.00. Following the completion of the purchase, the chief executive officer directly owned 789,857 shares in the company, valued at $17,858,666.77. This trade represents a 1.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new position in shares of Four Corners Property Trust during the second quarter worth about $15,215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Four Corners Property Trust by 15,777.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 653,820 shares of the financial services provider’s stock worth $16,051,000 after purchasing an additional 649,702 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at about $2,061,000. Jupiter Topco LLC purchased a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at about $1,112,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at about $2,584,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 3.4%

The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.32 and a beta of 0.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The business has a 50-day moving average of $22.84 and a 200-day moving average of $24.47.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The firm had revenue of $83.68 million for the quarter, compared to analyst estimates of $82.44 million. During the same period last year, the firm earned $0.45 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research 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 declared a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a $0.1265 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.52 annualized dividend and a yield of 6.5%. Four Corners Property Trust’s dividend payout ratio is 134.86%.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.