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

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 price target increased by equities researchers at UBS Group from $30.00 to $31.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. UBS Group's price target points to a potential upside of 20.93% from the company's current price.

FCPT has been the topic of a number of other research reports. Wells Fargo & Company lowered their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, June 2nd. Raymond James Financial lowered their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $29.60.

Four Corners Property Trust Trading Up 1.9%

FCPT traded up $0.4850 during trading on Friday, reaching $25.6350. 442,373 shares of the stock traded hands, compared to its average volume of 614,166. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average is $26.51 and its 200 day moving average is $27.38. Four Corners Property Trust has a 12 month low of $25.00 and a 12 month high of $30.93. The stock has a market capitalization of $2.68 billion, a PE ratio of 23.74 and a beta of 0.83.

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

Insider Buying and Selling at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.42, for a total value of $210,229.14. Following the sale, the director owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased 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 worth $323,602,000 after acquiring an additional 400,396 shares during the last quarter. State Street Corp increased its stake in shares of 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 purchasing an additional 116,711 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 valued at $71,910,000 after purchasing an additional 68,415 shares during the period. Capital International Investors lifted its stake in shares of Four Corners Property Trust by 25.4% during the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock valued at $61,538,000 after buying 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 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 buying an additional 417,134 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Company Profile

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.