Four Corners Property Trust (NYSE:FCPT) Now Covered by Barclays

Equities research analysts at Barclays assumed coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research note issued on Tuesday,Benzinga reports. The firm set an “equal weight” rating and a $31.00 price target on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 8.75% from the stock’s current price.

FCPT has been the subject of several other reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Raymond James upped their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Evercore ISI lifted their target price on 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. Finally, UBS Group started coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

Four Corners Property Trust Stock Performance

FCPT stock opened at $28.51 on Tuesday. Four Corners Property Trust has a twelve month low of $22.38 and a twelve month high of $30.93. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 26.64 and a beta of 1.12. The business’s fifty day simple moving average is $28.72 and its two-hundred day simple moving average is $27.58. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, October 30th. 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 7.68% and a net margin of 37.27%. The company had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 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 3.0% on a year-over-year basis. Analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds have recently modified their holdings of FCPT. Blue Trust Inc. grew its position in Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 3,467 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Four Corners Property Trust by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock valued at $1,142,000 after buying an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Four Corners Property Trust by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock valued at $24,332,000 after acquiring an additional 22,792 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Four Corners Property Trust by 5.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 3,597 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Four Corners Property Trust by 12.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,934 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 3,636 shares during the last quarter. Institutional investors and hedge funds 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.