Four Corners Property Trust (NYSE:FCPT) Coverage Initiated at UBS Group

Investment analysts at UBS Group started coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $33.00 price target on the financial services provider’s stock. UBS Group’s price target suggests a potential upside of 16.94% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Evercore ISI raised 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. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Finally, Raymond James boosted their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $28.22 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $28.93 and a 200 day simple moving average of $26.83. Four Corners Property Trust has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The company has a market cap of $2.73 billion, a PE ratio of 26.37 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. 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 business posted $0.42 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Four Corners Property Trust will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Four Corners Property Trust by 11.9% during the first quarter. BNP Paribas Financial Markets now owns 45,236 shares of the financial services provider’s stock valued at $1,107,000 after acquiring an additional 4,826 shares during the period. ProShare Advisors LLC grew its position in shares of Four Corners Property Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 18,248 shares of the financial services provider’s stock worth $447,000 after buying an additional 1,255 shares during the period. Entropy Technologies LP increased its stake in shares of Four Corners Property Trust by 7.4% in the 1st quarter. Entropy Technologies LP now owns 20,734 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 1,432 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Four Corners Property Trust by 48.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,709 shares of the financial services provider’s stock valued at $986,000 after acquiring an additional 11,961 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its position in shares of Four Corners Property Trust by 33.8% in the 1st quarter. Centersquare Investment Management LLC now owns 19,426 shares of the financial services provider’s stock valued at $456,000 after acquiring an additional 4,910 shares during the period. 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.