Four Corners Property Trust (NYSE:FCPT) had its price target increased to $29.00 by analysts at Raymond James

Four Corners Property Trust (NYSE:FCPT – Free Report) raised their target price on Raymond James from $27.00 to $29.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on FCPT. JMP Securities initiated coverage on Four Corners Property Trust in a report on Monday, July 8th. They have issued a market perform rating on the stock. Wells Fargo & Company raised shares of Four Corners Property Trust to a strong-buy rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $26.67.

Check out the latest stock report on FCPT

Four Corners property trust stocks rose 0.6%

FCPT opened at $27.04 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13, and a quick ratio of 0.14. Four Corners Property Trust has a 12-month low of $20.51 and a 12-month high of $27.71. The stock has a market cap of $2.49 billion, a P/E ratio of 25.27 and a beta of 1.08. The company has a 50-day simple moving average of $25.98 and a 200-day simple moving average of $24.66.

Four Corners Property Trust (NYSE:FCPT – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The company had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. In the same quarter last year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 9.5% year over year. On average, equities analysts anticipate that Four Corners Property Trust will post 1.65 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.345 dividend. The ex-dividend date was Friday, June 28. This represents an annualized dividend of $1.38 and a yield of 5.10%. Four Corners Property Trust’s payout ratio is currently 128.97%.

Insider activity at Four Corners Property Trust

In related news, Director John S. Moody sold 7,230 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total transaction of $177,568.80. Following the completion of the transaction, the director now owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In related news, Director John S. Moody sold 7,230 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total transaction of $177,568.80. Following the completion of the sale, the director now owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, CEO William H. Lenehan purchased 6,230 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the purchase, the chief executive officer now owns 620,394 shares in the company, valued at approximately $14,920,475.70. Disclosure for this purchase can be found here. Insiders own 1.20% of the company’s shares.

Institutional Investors Weigh On Four Corners Property Trust

Several hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its stake in Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares during the period. Eagle Bay Advisors LLC raised its holdings in Four Corners Property Trust by 66.7% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after buying another 600 shares in the last quarter. Cerity Partners LLC raised its stake in Four Corners Property Trust by 3.9% in the 4th quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock worth $573,000 after buying an additional 849 shares. of actions in the respective period. Arizona State Retirement System boosted its holdings in Four Corners Property Trust by 3.5% in the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after buying an additional 863 shares in the last quarter. Finally, CWM LLC boosted its position in Four Corners Property Trust by 183.5% in the 4th quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after buying an additional 888 shares in the last quarter. 98.66% of the shares are currently held by hedge funds and other institutional investors.

About Four Corners Property Trust

(Get a free report)

Headquartered in Mill Valley, CA, FCPT is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional rental real estate on a net basis for use in the restaurant and retail industries.

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