Four Corners Property Trust (NYSE:FCPT) Hits New 1-Year High at $30.80

Four Corners Property Trust, Inc. (NYSE:FCPT) shares reached a new 52-week high on Monday . The stock traded as high as $30.80 and last traded at $30.80, with a volume of 277 shares traded. The stock had previously closed at $30.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FCPT. Raymond James boosted their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Four Corners Property Trust Trading Up 1.3 %

The firm has a market cap of $2.85 billion, a P/E ratio of 28.41 and a beta of 1.10. The business has a 50 day moving average of $27.39 and a two-hundred day moving average of $25.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The firm had revenue of $66.48 million for the quarter, compared to the consensus estimate of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. Four Corners Property Trust’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Four Corners Property Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Earnest Partners LLC boosted its holdings in Four Corners Property Trust by 31.3% in the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after purchasing an additional 759,749 shares during the period. Norges Bank bought a new position in shares of Four Corners Property Trust in the fourth quarter worth $14,546,000. William Blair Investment Management LLC raised its stake in Four Corners Property Trust by 26.7% in the first quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after purchasing an additional 297,300 shares in the last quarter. Vanguard Group Inc. lifted its position in Four Corners Property Trust by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock worth $266,127,000 after purchasing an additional 294,240 shares during the period. Finally, Capital International Investors grew its stake in Four Corners Property Trust by 14.2% during the fourth quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock worth $45,739,000 after buying an additional 225,327 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.