Four Corners Property Trust (NYSE:FCPT) Rating Increased to Strong-Buy at Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT) was upgraded by research analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued on Monday, Zacks.com reports.

Separately, JMP Securities assumed coverage on Four Corners Property Trust in a research note on Monday, July 8th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $27.02 on Monday. The firm has a market capitalization of $2.49 billion, a PE ratio of 25.25 and a beta of 1.08. The stock’s fifty day moving average is $25.66 and its 200 day moving average is $24.53. Four Corners Property Trust has a fifty-two week low of $20.51 and a fifty-two week high of $27.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.14 and a current ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last released 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). The firm had revenue of $66.48 million for the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. Four Corners Property Trust’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. On average, sell-side analysts anticipate 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 purchased 6,230 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $24.05 per share, with a total value of $149,831.50. Following the transaction, the chief executive officer now owns 620,394 shares of the company’s stock, valued at $14,920,475.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Four Corners Property Trust news, Director John S. Moody sold 7,230 shares of Four Corners Property Trust stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total value of $177,568.80. Following the transaction, the director now owns 61,108 shares in the company, valued at $1,500,812.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Lenehan acquired 6,230 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the transaction, the chief executive officer now 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 owned by insiders.

Hedge Funds Weigh In On Four Corners Property Trust

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Four Corners Property Trust in the 4th quarter valued at approximately $14,546,000. Earnest Partners LLC boosted its position in Four Corners Property Trust by 15.5% in the first quarter. Earnest Partners LLC now owns 2,429,030 shares of the financial services provider’s stock valued at $59,438,000 after buying an additional 326,281 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Four Corners Property Trust by 26.7% in the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock worth $34,512,000 after buying an additional 297,300 shares during the period. Vanguard Group Inc. lifted its stake in Four Corners Property Trust by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock valued at $266,127,000 after acquiring an additional 294,240 shares during the period. Finally, Capital International Investors lifted its stake in Four Corners Property Trust by 14.2% during the 4th quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock valued at $45,739,000 after acquiring an additional 225,327 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

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.