Four Corners Property Trust (NYSE:FCPT) Price Target Lowered to $30.00 at UBS Group

Four Corners Property Trust (NYSE:FCPT) had its target price reduced by research analysts at UBS Group from $33.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. UBS Group’s price objective would suggest a potential upside of 12.15% from the stock’s previous close.

A number of other research firms have also recently issued reports on FCPT. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. Finally, Barclays lowered their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.60.

Four Corners Property Trust Stock Down 0.5%

Shares of Four Corners Property Trust stock opened at $26.75 on Tuesday. Four Corners Property Trust has a 12-month low of $23.70 and a 12-month high of $30.93. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $27.83 and a two-hundred day moving average price of $27.97. The stock has a market capitalization of $2.69 billion, a P/E ratio of 25.00 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The business had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. During the same period in the prior year, the firm earned $0.43 EPS. Four Corners Property Trust’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Four Corners Property Trust by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider’s stock worth $323,602,000 after acquiring an additional 400,396 shares during the period. Invesco Ltd. raised its stake in shares of Four Corners Property Trust by 2.9% in the fourth quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock valued at $83,395,000 after purchasing an additional 85,476 shares in the last quarter. Geode Capital Management LLC boosted its stake in Four Corners Property Trust by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider’s stock worth $66,651,000 after buying an additional 98,120 shares in the last quarter. Capital International Investors raised its stake in shares of Four Corners Property Trust by 25.4% in the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider’s stock valued at $61,538,000 after buying an additional 459,542 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Four Corners Property Trust by 1.2% in the first quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider’s stock valued at $52,912,000 after acquiring an additional 21,205 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

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.