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 reiterated by stock analysts at Wells Fargo & Company in a report released on Tuesday, Benzinga reports. They presently have a $32.00 price objective on the financial services provider’s stock, up from their previous price objective of $28.00. Wells Fargo & Company‘s price target would indicate a potential upside of 9.22% from the company’s current price.

FCPT has been the subject of several other reports. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Evercore ISI boosted their price objective 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, Raymond James boosted 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.75.

Four Corners Property Trust Price Performance

Shares of Four Corners Property Trust stock traded down $0.01 on Tuesday, hitting $29.30. The company’s stock had a trading volume of 70,027 shares, compared to its average volume of 512,291. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. Four Corners Property Trust has a 1 year low of $20.51 and a 1 year high of $30.93. The firm has a fifty day moving average price of $28.23 and a 200-day moving average price of $25.74. 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 posted its quarterly earnings data 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). 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 analysts’ expectations of $63.70 million. During the same quarter last year, the firm posted $0.42 earnings per share. Four Corners Property Trust’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FCPT. Earnest Partners LLC lifted its holdings in Four Corners Property Trust by 31.3% in the second 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. Norges Bank acquired a new position in Four Corners Property Trust in the fourth quarter valued at approximately $14,546,000. William Blair Investment Management LLC lifted its holdings in Four Corners Property Trust by 26.7% in the first quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after acquiring an additional 297,300 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Four Corners Property Trust by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock valued at $266,127,000 after acquiring an additional 294,240 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Four Corners Property Trust by 14.2% in the fourth quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock valued at $45,739,000 after acquiring an additional 225,327 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

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.