Four Corners Property Trust (NYSE:FCPT) Coverage Initiated by Analysts at Barclays

Equities researchers at Barclays started coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set an “equal weight” rating and a $31.00 price target on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 14.35% from the stock’s current price.

Other research analysts also recently issued reports about the company. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Raymond James boosted their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Wells Fargo & Company restated an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, UBS Group assumed coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

Four Corners Property Trust Stock Down 3.6 %

Shares of NYSE FCPT opened at $27.11 on Tuesday. Four Corners Property Trust has a 52-week low of $22.38 and a 52-week high of $30.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The business has a fifty day moving average of $28.72 and a two-hundred day moving average of $27.60. The stock has a market cap of $2.62 billion, a PE ratio of 25.34 and a beta of 1.12.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. As a group, equities research analysts expect that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors have recently modified their holdings of the business. Creative Planning boosted its stake in Four Corners Property Trust by 13.3% in the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock valued at $825,000 after acquiring an additional 3,315 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Four Corners Property Trust by 6.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock worth $10,236,000 after purchasing an additional 20,028 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Four Corners Property Trust by 211.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after purchasing an additional 108,345 shares during the period. Citigroup Inc. increased its holdings in Four Corners Property Trust by 21.0% in the third quarter. Citigroup Inc. now owns 201,872 shares of the financial services provider’s stock valued at $5,917,000 after purchasing an additional 35,059 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Four Corners Property Trust by 1,867.7% in the third quarter. Bank of Montreal Can now owns 228,987 shares of the financial services provider’s stock valued at $6,771,000 after buying an additional 217,350 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

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.