Four Corners Property Trust (NYSE:FCPT) Given “Overweight” Rating at Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT)‘s stock had its “overweight” rating restated by Wells Fargo & Company in a report issued on Tuesday, Benzinga reports. They presently have a $32.00 target price on the financial services provider’s stock, up from their prior target price of $28.00. Wells Fargo & Company‘s target price indicates a potential upside of 9.22% from the stock’s previous close.

FCPT has been the topic of a number of other reports. Raymond James upped their price target 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 upped their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Hold” and a consensus price target of $28.75.

Four Corners Property Trust Trading Down 0.0 %

NYSE:FCPT traded down $0.01 during trading hours on Tuesday, reaching $29.30. 70,027 shares of the stock were exchanged, compared to its average volume of 512,291. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $28.23 and a two-hundred day moving average of $25.74. Four Corners Property Trust has a twelve month low of $20.51 and a twelve month high of $30.93. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 27.49 and a beta of 1.10.

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 return on equity of 7.72% and a net margin of 37.01%. The firm had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities analysts predict that Four Corners Property Trust will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new position in shares of Four Corners Property Trust in the 2nd quarter valued at about $452,000. Algert Global LLC purchased a new position in shares of Four Corners Property Trust in the 2nd quarter valued at about $229,000. The Manufacturers Life Insurance Company increased its holdings in shares of Four Corners Property Trust by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,170 shares of the financial services provider’s stock valued at $1,238,000 after acquiring an additional 2,063 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Four Corners Property Trust by 31.3% in the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after acquiring an additional 759,749 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Four Corners Property Trust by 14.4% in the 2nd quarter. AQR Capital Management LLC now owns 22,485 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 2,825 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

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.