Shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Get Free Report) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $42.00 and last traded at $27.73, with a volume of 1149 shares trading hands. The stock had previously closed at $27.75.
The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on FCPT shares. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday. UBS Group started coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Barclays reduced their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.40.
Institutional Investors Weigh In On Four Corners Property Trust
Several hedge funds and other institutional investors have recently bought and sold shares of FCPT. Sanctuary Advisors LLC acquired a new stake in Four Corners Property Trust during the 2nd quarter worth $452,000. Creative Planning grew its position in Four Corners Property Trust by 13.3% during the 3rd quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after purchasing an additional 3,315 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new position in Four Corners Property Trust during the 3rd quarter worth $208,000. AlphaMark Advisors LLC purchased a new position in Four Corners Property Trust during the 3rd quarter worth $348,000. Finally, Inspire Advisors LLC purchased a new position in Four Corners Property Trust during the 3rd quarter worth $226,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.
Four Corners Property Trust Price Performance
The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $2.75 billion, a PE ratio of 26.56 and a beta of 1.14. The company’s 50-day simple moving average is $27.69 and its 200-day simple moving average is $28.22.
About Four Corners Property Trust
Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.
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