Four Corners Property Trust (NYSE:FCPT) Hits New 1-Year High at $30.80

Four Corners Property Trust, Inc. (NYSE:FCPT)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.80 and last traded at $30.80, with a volume of 277 shares changing hands. The stock had previously closed at $30.40.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Raymond James upped their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Four Corners Property Trust Stock Up 0.1 %

The firm has a market cap of $2.81 billion, a P/E ratio of 28.51 and a beta of 1.10. The firm’s 50-day moving average price is $27.62 and its 200 day moving average price is $25.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.48 million during the quarter, compared to analyst estimates 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 was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. On average, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Four Corners Property Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Four Corners Property Trust by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,339,614 shares of the financial services provider’s stock valued at $33,892,000 after buying an additional 53,517 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Four Corners Property Trust during the 4th quarter worth approximately $223,000. Quadrant Capital Group LLC lifted its holdings in shares of Four Corners Property Trust by 85.3% in the 4th quarter. Quadrant Capital Group LLC now owns 7,289 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 3,355 shares during the last quarter. Beacon Pointe Advisors LLC boosted its position in Four Corners Property Trust by 12.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 13,377 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 1,462 shares during the period. Finally, Norges Bank bought a new position in Four Corners Property Trust during the 4th quarter worth $14,546,000. 98.66% of the stock is owned by institutional investors and hedge funds.

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.