Four Corners Property Trust (NYSE:FCPT) Share Price Passes Below 50 Day Moving Average – Time to Sell?

Four Corners Property Trust, Inc. (NYSE:FCPT) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $25.17 and traded as low as $22.88. Four Corners Property Trust shares last traded at $23.0530, with a volume of 1,864,618 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays lifted their price objective 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. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Huntington started coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price on the stock. Weiss Ratings cut shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.90.

Four Corners Property Trust Stock Down 0.7%

The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 20.32 and a beta of 0.79. The firm has a 50 day simple moving average of $25.13 and a two-hundred day simple moving average of $24.98.

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

Four Corners Property Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a dividend of $0.1265 per share. The ex-dividend date is Thursday, December 31st. This represents a c) dividend on an annualized basis and a yield of 6.7%. Four Corners Property Trust’s payout ratio is currently 132.43%.

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at approximately $490,406,000. Geode Capital Management LLC boosted its holdings in Four Corners Property Trust by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock worth $65,800,000 after purchasing an additional 110,791 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in Four Corners Property Trust by 79.9% in the first quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock valued at $60,680,000 after purchasing an additional 1,139,493 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Four Corners Property Trust by 75.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock valued at $55,469,000 after purchasing an additional 1,010,648 shares in the last quarter. Finally, Callodine Capital Management LP increased its stake in Four Corners Property Trust by 19.6% in the 1st quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock valued at $37,027,000 after buying an additional 256,325 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

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.