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

Four Corners Property Trust (NYSE:FCPT - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $31.00 to $30.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price indicates a potential upside of 9.62% from the company's current price.

Several other research firms have also recently commented on FCPT. UBS Group cut their price target on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Barclays decreased 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. Finally, JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three investment 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 a consensus price target of $29.40.

Four Corners Property Trust Stock Performance

NYSE:FCPT traded up $0.20 during midday trading on Monday, reaching $27.37. The stock had a trading volume of 334,643 shares, compared to its average volume of 636,418. The stock has a market capitalization of $2.75 billion, a P/E ratio of 25.58 and a beta of 0.86. Four Corners Property Trust has a 1-year low of $23.76 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. The firm's fifty day simple moving average is $27.53 and its 200-day simple moving average is $27.91.

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

Insider Transactions at Four Corners Property Trust

In other news, CAO Niccole Stewart sold 9,100 shares of Four Corners Property Trust stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total transaction of $248,248.00. Following the completion of the sale, the chief accounting officer now owns 31,204 shares in the company, valued at $851,245.12. The trade was a 22.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its position in shares of Four Corners Property Trust by 109.5% in the 3rd quarter. Barclays PLC now owns 156,021 shares of the financial services provider's stock valued at $4,572,000 after purchasing an additional 81,565 shares during the period. SG Americas Securities LLC lifted its stake in Four Corners Property Trust by 91.2% in the fourth quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider's stock valued at $268,000 after buying an additional 4,708 shares in the last quarter. KBC Group NV boosted its holdings in shares of Four Corners Property Trust by 50.4% in the fourth quarter. KBC Group NV now owns 3,702 shares of the financial services provider's stock valued at $100,000 after buying an additional 1,240 shares during the period. abrdn plc lifted its position in Four Corners Property Trust by 35.8% in the 4th quarter. abrdn plc now owns 24,640 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 6,501 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Four Corners Property Trust by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 36,611 shares of the financial services provider's stock worth $994,000 after buying an additional 600 shares in the last quarter. 98.66% of the stock is owned by 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.