Four Corners Property Trust (NYSE:FCPT) PT Raised to $28.00

Four Corners Property Trust (NYSE:FCPT) had its price objective increased by Evercore ISI from $26.00 to $28.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target indicates a potential downside of 0.28% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday. Finally, Raymond James raised their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock opened at $28.08 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $26.38 and its two-hundred day moving average is $24.84. Four Corners Property Trust has a 52 week low of $20.51 and a 52 week high of $28.31. The company has a market capitalization of $2.58 billion, a PE ratio of 26.24 and a beta of 1.08.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The company had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts expect that Four Corners Property Trust will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO William H. Lenehan bought 6,230 shares of Four Corners Property Trust stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the acquisition, the chief executive officer now owns 620,394 shares of the company’s stock, valued at approximately $14,920,475.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director John S. Moody sold 7,230 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total transaction of $177,568.80. Following the completion of the sale, the director now owns 61,108 shares in the company, valued at approximately $1,500,812.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William H. Lenehan acquired 6,230 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $24.05 per share, with a total value of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at $14,920,475.70. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Four Corners Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its holdings in shares of Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 470 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of Four Corners Property Trust by 66.7% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after buying an additional 600 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Four Corners Property Trust by 3.5% during the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after buying an additional 863 shares during the period. CWM LLC grew its holdings in shares of Four Corners Property Trust by 183.5% during the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after buying an additional 888 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Four Corners Property Trust by 25,000.0% in the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Company Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.