Four Corners Property Trust (NYSE:FCPT) Price Target Raised to $31.00

Key Points

• UBS Group increased the price target for Four Corners Property Trust (FCPT) from $30.00 to $31.00, indicating a potential upside of 22.23% from the last closing price.
• The stock has an average rating of "Moderate Buy" among analysts, with three holding and three buying ratings, while the average price target sits at $29.60.
• Recently, Four Corners Property Trust reported earnings of $0.44 per share, surpassing analysts' expectations and reflecting a year-over-year revenue increase of 9.6%.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) had its target price raised by equities researchers at UBS Group from $30.00 to $31.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. UBS Group's target price suggests a potential upside of 19.74% from the company's previous close.

FCPT has been the topic of several other reports. Raymond James Financial reduced 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 note on Thursday, July 31st. Wells Fargo & Company reduced their target price on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Four Corners Property Trust has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Four Corners Property Trust Trading Up 0.9%

FCPT stock traded up $0.23 during midday trading on Friday, hitting $25.89. The company had a trading volume of 483,839 shares, compared to its average volume of 698,365. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 52 week low of $25.00 and a 52 week high of $30.93. The stock's 50 day moving average price is $26.51 and its 200 day moving average price is $27.38. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 23.97 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the sale, the director directly owned 53,821 shares of the company's stock, valued at $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Four Corners Property Trust by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider's stock worth $323,602,000 after purchasing an additional 400,396 shares during the period. State Street Corp boosted its holdings in Four Corners Property Trust by 2.0% in the second quarter. State Street Corp now owns 5,811,410 shares of the financial services provider's stock worth $158,408,000 after acquiring an additional 116,711 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Four Corners Property Trust by 2.6% in the second quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider's stock worth $71,910,000 after acquiring an additional 68,415 shares in the last quarter. Capital International Investors boosted its holdings in Four Corners Property Trust by 25.4% in the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock worth $61,538,000 after acquiring an additional 459,542 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Four Corners Property Trust by 23.9% in the second quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider's stock worth $58,125,000 after acquiring an additional 417,134 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

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.