Raymond James Financial Lowers Four Corners Property Trust (NYSE:FCPT) Price Target to $29.00

Four Corners Property Trust (NYSE:FCPT) had its price target dropped by analysts at Raymond James Financial from $31.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s target price would indicate a potential upside of 13.95% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. UBS Group dropped their price target on Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, June 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $25.45 on Thursday. The company has a market cap of $2.66 billion, a P/E ratio of 23.57 and a beta of 0.84. Four Corners Property Trust has a one year low of $25.00 and a one year high of $30.93. The business has a fifty day moving average of $26.96 and a two-hundred day moving average of $27.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, analysts predict that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the completion of the transaction, the director directly owned 53,821 shares in the company, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several institutional investors have recently added to or reduced their stakes in the business. Zimmer Partners LP purchased a new stake in Four Corners Property Trust during the fourth quarter valued at about $38,512,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Four Corners Property Trust during the first quarter worth about $33,515,000. Balyasny Asset Management L.P. acquired a new position in shares of Four Corners Property Trust in the 4th quarter valued at approximately $18,084,000. Nuveen LLC acquired a new stake in shares of Four Corners Property Trust during the 1st quarter valued at approximately $18,291,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in Four Corners Property Trust by 63.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider’s stock worth $38,539,000 after acquiring an additional 519,633 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 engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.