Four Corners Property Trust (NYSE:FCPT – Get Free Report) had its price objective cut by equities research analysts at Wells Fargo & Company from $26.00 to $22.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.89% from the stock’s previous close.
A number of other analysts also recently commented on FCPT. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Barclays lifted their price target on Four Corners Property Trust from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, September 4th. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. decreased their price target on Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Finally, Huntington started coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Hold” and a consensus target price of $27.36.
Read Our Latest Stock Analysis on Four Corners Property Trust
Four Corners Property Trust Stock Performance
NYSE:FCPT traded down $0.40 during mid-day trading on Monday, hitting $21.59. The company’s stock had a trading volume of 273,808 shares, compared to its average volume of 865,824. Four Corners Property Trust has a 1 year low of $20.85 and a 1 year high of $26.86. 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 $2.37 billion, a price-to-earnings ratio of 19.46 and a beta of 0.80. The business’s fifty day moving average is $23.48 and its two-hundred day moving average is $24.49.
Four Corners Property Trust (NYSE:FCPT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to the consensus estimate of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. Analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of FCPT. BlackRock Inc. acquired a new position in shares of Four Corners Property Trust in the second quarter worth about $490,406,000. Lasalle Investment Management Securities LLC grew its position in shares of Four Corners Property Trust by 79.9% during the 1st 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 acquiring an additional 1,139,493 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Four Corners Property Trust by 75.7% during the 1st 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 acquiring an additional 1,010,648 shares during the period. Callodine Capital Management LP grew its position in shares of Four Corners Property Trust by 19.6% during 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 acquiring an additional 256,325 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Four Corners Property Trust by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider’s stock valued at $35,100,000 after purchasing an additional 16,891 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.
Four Corners Property Trust Company Profile
Four Corners Property Trust, Inc is a real estate investment trust that owns and manages a portfolio of primarily restaurant and retail properties. The company generally leases its properties to tenants under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.
Four Corners was formed through a 2015 spin-off from Darden Restaurants, Inc, separating Darden’s real estate assets from its restaurant operating business.
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