Four Corners Property Trust (NYSE:FCPT) Sets New 52-Week High Following Strong Earnings

Four Corners Property Trust, Inc. (NYSE:FCPT)’s share price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $42.00 and last traded at $27.73, with a volume of 1149 shares trading hands. The stock had previously closed at $27.75.

The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FCPT. Barclays dropped their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. UBS Group began coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.40.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at approximately $452,000. Creative Planning raised its position 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 purchasing an additional 3,315 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in Four Corners Property Trust during the third quarter worth $208,000. AlphaMark Advisors LLC purchased a new position in shares of Four Corners Property Trust during the third quarter worth $348,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Four Corners Property Trust in the third quarter valued at $226,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

The company has a fifty day moving average of $27.69 and a 200-day moving average of $28.22. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.68 billion, a PE ratio of 25.91 and a beta of 1.14.

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.