Four Corners Property Trust (NYSE:FCPT) Receives Overweight Rating from Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT)‘s stock had its “overweight” rating restated by Wells Fargo & Company in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $32.00 target price on the financial services provider’s stock, up from their previous target price of $28.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 10.27% from the stock’s current price.

A number of other brokerages have also issued reports on FCPT. Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Raymond James lifted their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Four Corners Property Trust presently has a consensus rating of “Hold” and an average target price of $28.75.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $29.02 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.67 billion, a PE ratio of 27.12 and a beta of 1.10. Four Corners Property Trust has a 12-month low of $20.51 and a 12-month high of $30.93. The business’s fifty day simple moving average is $28.28 and its 200-day simple moving average is $25.77.

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). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. During the same quarter last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Four Corners Property Trust

Several hedge funds have recently bought and sold shares of FCPT. Norges Bank acquired a new position in shares of Four Corners Property Trust in the 4th quarter valued at $14,546,000. PNC Financial Services Group Inc. raised its position in shares of Four Corners Property Trust by 31.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 2,551 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Four Corners Property Trust by 17.8% during the 4th quarter. Hsbc Holdings PLC now owns 52,193 shares of the financial services provider’s stock worth $1,320,000 after acquiring an additional 7,884 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its position in shares of Four Corners Property Trust by 78.9% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 21,766 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 9,601 shares during the period. Finally, Capital International Investors increased its stake in shares of Four Corners Property Trust by 14.2% in 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 purchasing an additional 225,327 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

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.