Four Corners Property Trust (NYSE:FCPT) Sees Strong Trading Volume

Four Corners Property Trust, Inc. (NYSE:FCPT) shares saw unusually-strong trading volume on Monday . Approximately 478,909 shares were traded during mid-day trading, a decline of 4% from the previous session’s volume of 500,729 shares.The stock last traded at $23.34 and had previously closed at $23.34.

Analyst Ratings Changes

FCPT has been the subject of several research analyst reports. Raymond James reduced their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Wells Fargo & Company increased their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th.

Four Corners Property Trust Stock Down 2.2 %

The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 21.06 and a beta of 1.00. The firm has a 50-day moving average of $23.84 and a two-hundred day moving average of $23.54. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.13). The business had revenue of $65.14 million during the quarter, compared to the consensus estimate of $65.23 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.64 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.345 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.38 annualized dividend and a yield of 6.07%. Four Corners Property Trust’s dividend payout ratio is 127.78%.

Institutional Trading of Four Corners Property Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC lifted its holdings in shares of Four Corners Property Trust by 1,120.0% during the 1st quarter. Belpointe Asset Management LLC now owns 915 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 840 shares during the period. Fortis Capital Advisors LLC boosted its stake in Four Corners Property Trust by 18,200.0% in the first quarter. Fortis Capital Advisors LLC now owns 915 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 910 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Four Corners Property Trust during the second quarter worth $33,000. CWM LLC grew its holdings in shares of Four Corners Property Trust by 183.5% during the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 888 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Four Corners Property Trust in the third quarter valued at $52,000. 98.66% of the stock is currently owned by institutional investors.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, 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 real estate to lease, on a net basis, for use in the restaurant and retail industries.