Citizens Jmp Issues Pessimistic Forecast for Four Corners Property Trust (NYSE:FCPT) Stock Price

Key Points

• Citizens JMP lowered its price target for Four Corners Property Trust from $28 to $26 while maintaining a “market outperform” rating, implying approximately 13.4% upside from the prior close.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $26.45, although Wells Fargo and Barclays also recently reduced their targets.
• FCPT’s latest quarterly results were mixed: revenue rose 12.9% year over year to $83.68 million and exceeded estimates, but earnings of $0.26 per share missed consensus by $0.03.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) had its target price dropped by stock analysts at Citizens Jmp from $28.00 to $26.00 in a report released on Monday, Benzinga reports. The firm presently has a "market outperform" rating on the financial services provider's stock. Citizens Jmp's price objective would indicate a potential upside of 13.37% from the company's previous close.

A number of other research firms have also recently weighed in on FCPT. Wells Fargo & Company lowered their target price on shares of Four Corners Property Trust from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday, October 19th. Barclays cut their price target on shares of Four Corners Property Trust from $30.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 20th. UBS Group reaffirmed a "buy" rating and set a $30.00 price objective on shares of Four Corners Property Trust in a report on Thursday, July 9th. Huntington started coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $27.00 price objective on the stock. Finally, Weiss Ratings cut Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.45.

Four Corners Property Trust Stock Performance

Shares of NYSE:FCPT traded up $0.46 during trading on Monday, hitting $22.93. 299,263 shares of the stock were exchanged, compared to its average volume of 881,271. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 21.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.12 and a current ratio of 0.12. Four Corners Property Trust has a 1-year low of $20.85 and a 1-year high of $26.86. The company's fifty day simple moving average is $22.88 and its 200-day simple moving average is $24.48.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.03). Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The firm had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts expect that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of FCPT. IFP Advisors Inc grew its position in shares of Four Corners Property Trust by 105.8% during the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider's stock worth $28,000 after buying an additional 583 shares during the period. Bessemer Group Inc. boosted its stake in Four Corners Property Trust by 326.1% during the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider's stock worth $39,000 after acquiring an additional 1,262 shares during the last quarter. Covestor Ltd boosted its stake in Four Corners Property Trust by 40.0% during the 3rd quarter. Covestor Ltd now owns 1,799 shares of the financial services provider's stock worth $39,000 after acquiring an additional 514 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Four Corners Property Trust during the 2nd quarter worth approximately $45,000. Finally, Nykredit A S acquired a new position in Four Corners Property Trust during the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 98.66% of the company's stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT's portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.

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