Wells Fargo & Company Lowers Four Corners Property Trust (NYSE:FCPT) Price Target to $30.00

Four Corners Property Trust (NYSE:FCPT - Get Free Report) had its target price cut by equities research analysts at Wells Fargo & Company from $31.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 9.49% from the stock's previous close.

Other analysts have also issued reports about the stock. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. UBS Group dropped their price target on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays dropped their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust presently has an average rating of "Moderate Buy" and an average price target of $29.40.

Four Corners Property Trust Stock Up 0.0%

Shares of FCPT traded up $0.01 during mid-day trading on Monday, hitting $27.40. 568,958 shares of the company's stock were exchanged, compared to its average volume of 636,642. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 25.61 and a beta of 0.86. Four Corners Property Trust has a fifty-two week low of $23.76 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The stock's 50-day moving average is $27.56 and its 200-day moving average is $27.92.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The firm had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The business's quarterly revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Niccole Stewart sold 9,100 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $27.28, for a total value of $248,248.00. Following the completion of the sale, the chief accounting officer now directly owns 31,204 shares of the company's stock, valued at approximately $851,245.12. This represents a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Four Corners Property Trust

Several large investors have recently modified their holdings of FCPT. EverSource Wealth Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 817 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Four Corners Property Trust by 165.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 860 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Four Corners Property Trust in the fourth quarter valued at approximately $39,000. Costello Asset Management INC acquired a new stake in shares of Four Corners Property Trust during the first quarter worth $40,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Four Corners Property Trust during the fourth quarter worth $46,000. 98.66% of the stock is owned by institutional investors and hedge funds.

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.