Four Corners Property Trust (NYSE:FCPT) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $27.00 price objective on the financial services provider's stock. Zacks Investment Research's target price suggests a potential upside of 11.80% from the company's current price.
According to Zacks, "Four Corners Property Trust, Inc. is involved in the acquisition and leasing of restaurant locations. Four Corners is headquartered in Mill Valley, CA. "
Separately, Raymond James cut their price objective on shares of Four Corners Property Trust from $35.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, April 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. The company currently has an average rating of "Buy" and a consensus target price of $28.75.
Shares of Four Corners Property Trust stock traded up $0.63 during trading on Tuesday, hitting $24.15. 549,900 shares of the company's stock were exchanged, compared to its average volume of 794,258. The company has a debt-to-equity ratio of 1.13, a quick ratio of 6.16 and a current ratio of 6.16. The business has a 50-day simple moving average of $22.50 and a 200-day simple moving average of $24.64. Four Corners Property Trust has a 52-week low of $12.80 and a 52-week high of $32.50. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 22.57 and a beta of 0.83.
Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.35 by ($0.08). Four Corners Property Trust had a return on equity of 10.66% and a net margin of 45.61%. The business had revenue of $42.50 million for the quarter, compared to analysts' expectations of $42.66 million. During the same period last year, the business earned $0.35 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that Four Corners Property Trust will post 1.28 earnings per share for the current fiscal year.
In other Four Corners Property Trust news, Director John S. Moody purchased 5,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $18.56 per share, for a total transaction of $92,800.00. Following the completion of the transaction, the director now owns 41,092 shares of the company's stock, valued at approximately $762,667.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Lenehan purchased 11,300 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $17.79 per share, for a total transaction of $201,027.00. Following the completion of the transaction, the chief executive officer now directly owns 342,253 shares of the company's stock, valued at approximately $6,088,680.87. The disclosure for this purchase can be found here. In the last quarter, insiders bought 17,719 shares of company stock worth $319,792. Company insiders own 0.87% of the company's stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FCPT. Amalgamated Bank raised its stake in Four Corners Property Trust by 4.1% during the fourth quarter. Amalgamated Bank now owns 13,225 shares of the financial services provider's stock worth $373,000 after purchasing an additional 524 shares during the period. Victory Capital Management Inc. raised its stake in Four Corners Property Trust by 5.4% during the fourth quarter. Victory Capital Management Inc. now owns 10,258 shares of the financial services provider's stock worth $311,000 after purchasing an additional 528 shares during the period. Mutual of America Capital Management LLC raised its stake in Four Corners Property Trust by 23.0% during the first quarter. Mutual of America Capital Management LLC now owns 3,017 shares of the financial services provider's stock worth $56,000 after purchasing an additional 564 shares during the period. Marshall Wace North America L.P. raised its stake in Four Corners Property Trust by 37.8% during the first quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider's stock worth $69,000 after purchasing an additional 638 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in Four Corners Property Trust by 0.3% during the first quarter. Parametric Portfolio Associates LLC now owns 243,315 shares of the financial services provider's stock worth $4,552,000 after purchasing an additional 645 shares during the period. Hedge funds and other institutional investors own 92.55% of the company's stock.
Four Corners Property Trust Company Profile
FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.
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