Wells Fargo & Company Lowers Four Corners Property Trust (NYSE:FCPT) Price Target to $25.00

Four Corners Property Trust (NYSE:FCPT) had its target price dropped by stock analysts at Wells Fargo & Company from $27.00 to $25.00 in a research report issued on Tuesday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 4.04% from the company’s previous close.

Several other research firms have also recently commented on FCPT. Barclays lowered their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Wall Street Zen raised Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. UBS Group lifted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Finally, Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust has a consensus rating of “Hold” and an average target price of $28.40.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $24.03 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $2.55 billion, a P/E ratio of 22.05 and a beta of 0.88. The firm’s 50-day moving average is $24.21 and its two-hundred day moving average is $25.72. Four Corners Property Trust has a 12 month low of $23.05 and a 12 month high of $30.12.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The business had revenue of $74.15 million during the quarter, compared to analyst estimates of $71.86 million. During the same period last year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side 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 other news, Director Douglas B. Hansen acquired 1,984 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $23.64 per share, for a total transaction of $46,901.76. Following the transaction, the director directly owned 78,247 shares in the company, valued at approximately $1,849,759.08. This represents a 2.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William H. Lenehan purchased 7,850 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the purchase, the chief executive officer owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Callodine Capital Management LP acquired a new position in shares of Four Corners Property Trust during the 3rd quarter worth $18,673,000. Nuveen LLC purchased a new position in Four Corners Property Trust during the 1st quarter valued at about $18,291,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Four Corners Property Trust by 444.7% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 653,350 shares of the financial services provider’s stock worth $15,942,000 after acquiring an additional 533,408 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Four Corners Property Trust by 63.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider’s stock valued at $38,539,000 after purchasing an additional 519,633 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Four Corners Property Trust in the first quarter valued at about $14,350,000. 98.66% of the stock is owned by institutional investors and hedge funds.

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.