Four Corners Property Trust (NYSE:FCPT) Upgraded at Wall Street Zen

Key Points

• Four Corners Property Trust (NYSE:FCPT) was upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen, reflecting a more favorable outlook on the stock.
• Analysts have varying target prices for FCPT, with Raymond James lowering it from $31.00 to $29.00, while UBS Group raised it from $30.00 to $31.00, indicating mixed sentiments around the stock's potential performance.
• The company recently reported earnings of $0.44 per share, surpassing estimates, with a revenue increase of 9.6% compared to the previous year, showcasing solid financial growth.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

FCPT has been the topic of several other reports. Raymond James Financial dropped their target price on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Weiss Ratings reissued a "hold (c)" rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. UBS Group increased their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, August 15th. Barclays lowered their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 20th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $27.00 price objective (down previously from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.00.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.40 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust has a fifty-two week low of $23.64 and a fifty-two week high of $30.12. The stock's 50-day moving average is $25.10 and its two-hundred day moving average is $26.42. The firm has a market cap of $2.55 billion, a P/E ratio of 22.59 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The company had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. During the same period in the prior year, the firm posted $0.43 EPS. The business's revenue was up 9.6% compared to the same quarter last year. Analysts predict that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Four Corners Property Trust news, CEO William H. Lenehan bought 7,850 shares of the stock in a transaction on Friday, September 12th. The shares were purchased at an average price of $25.40 per share, with a total value of $199,390.00. Following the acquisition, the chief executive officer directly owned 698,426 shares of the company's stock, valued at $17,740,020.40. This represents a 1.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Niccole Stewart sold 3,950 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the completion of the sale, the chief accounting officer directly owned 27,502 shares in the company, valued at $695,800.60. This trade represents a 12.56% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Institutional Trading of Four Corners Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Four Corners Property Trust by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider's stock valued at $323,602,000 after buying an additional 400,396 shares during the last quarter. State Street Corp grew its holdings in shares of Four Corners Property Trust by 2.0% during the 2nd quarter. State Street Corp now owns 5,811,410 shares of the financial services provider's stock worth $158,408,000 after purchasing an additional 116,711 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Four Corners Property Trust by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider's stock worth $71,910,000 after purchasing an additional 68,415 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Four Corners Property Trust by 23.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider's stock worth $58,125,000 after purchasing an additional 417,134 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Four Corners Property Trust by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider's stock worth $52,912,000 after purchasing an additional 21,205 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

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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