Four Corners Property Trust (NYSE:FCPT) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $29.00 target price on the financial services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 15.08% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Raymond James cut their price target on shares of Four Corners Property Trust from $35.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Zacks Investment Research cut shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $28.80.

Four Corners Property Trust stock traded up $0.87 during midday trading on Friday, reaching $25.20. The stock had a trading volume of 537,401 shares, compared to its average volume of 357,445. Four Corners Property Trust has a 1-year low of $12.80 and a 1-year high of $32.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 6.16 and a current ratio of 2.27. The firm’s fifty day simple moving average is $23.52 and its 200-day simple moving average is $24.02. The stock has a market capitalization of $1.77 billion, a P/E ratio of 23.55 and a beta of 0.84.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The firm had revenue of $40.93 million during the quarter, compared to analyst estimates of $39.64 million. Four Corners Property Trust had a net margin of 45.60% and a return on equity of 10.69%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, sell-side analysts anticipate that Four Corners Property Trust will post 1.26 earnings per share for the current fiscal year.

In other news, Director John S. Moody bought 5,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $18.56 per share, with a total value of $92,800.00. Following the acquisition, the director now directly owns 41,092 shares in the company, valued at $762,667.52. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William H. Lenehan bought 11,300 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $17.79 per share, for a total transaction of $201,027.00. Following the completion of the acquisition, the chief executive officer now owns 342,253 shares in the company, valued at $6,088,680.87. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 17,719 shares of company stock worth $319,792. 0.71% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its stake in shares of Four Corners Property Trust by 13.6% in the 1st quarter. Wells Fargo & Company MN now owns 1,633,151 shares of the financial services provider’s stock valued at $30,555,000 after buying an additional 195,271 shares during the period. SG Americas Securities LLC lifted its position in Four Corners Property Trust by 74.9% in the 2nd quarter. SG Americas Securities LLC now owns 46,209 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 19,793 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Four Corners Property Trust by 44.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 63,631 shares of the financial services provider’s stock valued at $1,191,000 after acquiring an additional 19,458 shares in the last quarter. FDx Advisors Inc. bought a new position in Four Corners Property Trust in the 1st quarter valued at about $213,000. Finally, Alliancebernstein L.P. lifted its position in Four Corners Property Trust by 2.4% in the 1st quarter. Alliancebernstein L.P. now owns 141,092 shares of the financial services provider’s stock valued at $2,640,000 after acquiring an additional 3,270 shares in the last quarter. 92.48% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Company Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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