Wall Street Zen Upgrades Four Corners Property Trust (NYSE:FCPT) to Hold

Four Corners Property Trust (NYSE:FCPT) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Other analysts have also issued research reports about the stock. Barclays dropped their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 20th. UBS Group lifted their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Tuesday, October 14th. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price target (down from $29.00) on shares of Four Corners Property Trust in a research report on Thursday, September 11th. Finally, Raymond James Financial lowered their price target on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Hold” and a consensus price target of $28.75.

Four Corners Property Trust Stock Up 1.2%

Shares of NYSE FCPT opened at $24.69 on Friday. The company’s 50-day simple moving average is $25.08 and its 200-day simple moving average is $26.39. Four Corners Property Trust has a 52-week low of $23.64 and a 52-week high of $30.12. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 22.86 and a beta of 0.87. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

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

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total transaction of $99,935.00. Following the transaction, the chief accounting officer directly owned 27,502 shares of the company’s stock, valued at $695,800.60. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Lenehan bought 7,850 shares of Four Corners Property Trust stock in a transaction on Friday, September 12th. The shares were purchased at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the purchase, the chief executive officer directly owned 698,426 shares of the company’s stock, valued at $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Four Corners Property Trust

A number of institutional investors have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at approximately $3,579,000. CWM LLC raised its stake in shares of Four Corners Property Trust by 75.9% in the 3rd quarter. CWM LLC now owns 9,723 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 4,195 shares during the period. Inspire Investing LLC raised its stake in shares of Four Corners Property Trust by 36.1% in the 3rd quarter. Inspire Investing LLC now owns 23,819 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 6,324 shares during the period. ZWJ Investment Counsel Inc. raised its stake in shares of Four Corners Property Trust by 11.8% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 9,234 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 976 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Four Corners Property Trust by 14.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 141,710 shares of the financial services provider’s stock valued at $3,458,000 after acquiring an additional 17,969 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

About Four Corners Property Trust

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.