Four Corners Property Trust (NYSE:FCPT) Trading 14.9% Higher

Four Corners Property Trust Inc (NYSE:FCPT) traded up 14.9% during mid-day trading on Monday . The stock traded as high as $16.75 and last traded at $16.48, 902,466 shares were traded during mid-day trading. An increase of 23% from the average session volume of 732,110 shares. The stock had previously closed at $14.34.

A number of research analysts recently weighed in on FCPT shares. JPMorgan Chase & Co. started coverage on shares of Four Corners Property Trust in a research report on Wednesday, December 18th. They set a “neutral” rating and a $30.00 price objective on the stock. Raymond James increased their price objective on shares of Four Corners Property Trust from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Evercore ISI initiated coverage on shares of Four Corners Property Trust in a report on Friday, January 24th. They set an “outperform” rating and a $34.00 target price for the company. Finally, Zacks Investment Research cut shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a report on Friday, March 27th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $31.63.

The stock’s 50 day moving average price is $25.28 and its 200-day moving average price is $27.57. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $1.01 billion, a PE ratio of 15.55 and a beta of 0.75.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.07). Four Corners Property Trust had a return on equity of 10.46% and a net margin of 45.32%. The firm had revenue of $40.88 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts forecast that Four Corners Property Trust Inc will post 1.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.305 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.22 annualized dividend and a dividend yield of 7.40%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 87.77%.

In other news, CAO Niccole Stewart sold 1,600 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $29.50, for a total value of $47,200.00. Following the completion of the sale, the chief accounting officer now owns 11,011 shares in the company, valued at approximately $324,824.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel James L. Brat sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $32.08, for a total transaction of $96,240.00. Following the completion of the sale, the general counsel now owns 55,931 shares of the company’s stock, valued at approximately $1,794,266.48. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan increased its stake in Four Corners Property Trust by 1.6% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 20,936 shares of the financial services provider’s stock worth $590,000 after buying an additional 330 shares during the period. Amalgamated Bank lifted its stake in Four Corners Property Trust by 4.1% during the 4th quarter. Amalgamated Bank now owns 13,225 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 524 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Four Corners Property Trust by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 10,258 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 528 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Four Corners Property Trust by 1.2% during the 4th quarter. Texas Permanent School Fund now owns 47,140 shares of the financial services provider’s stock valued at $1,329,000 after purchasing an additional 572 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Four Corners Property Trust by 151.9% during the 4th quarter. Signaturefd LLC now owns 970 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 585 shares in the last quarter. 90.26% of the stock is currently owned by institutional investors.

Four Corners Property Trust Company Profile (NYSE:FCPT)

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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