Four Corners Property Trust’s (FCPT) “Market Perform” Rating Reaffirmed at JMP Securities

Four Corners Property Trust (NYSE:FCPT)‘s stock had its “market perform” rating reissued by stock analysts at JMP Securities in a research report issued to clients and investors on Tuesday,Benzinga reports.

Several other equities research analysts have also commented on FCPT. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI increased their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. UBS Group assumed coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Raymond James upped their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Four Corners Property Trust has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Four Corners Property Trust Price Performance

Shares of FCPT stock traded up $0.04 during trading hours on Tuesday, hitting $29.28. 34,169 shares of the company’s stock were exchanged, compared to its average volume of 510,601. The firm has a 50 day moving average of $28.72 and a two-hundred day moving average of $27.40. Four Corners Property Trust has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The firm has a market cap of $2.83 billion, a P/E ratio of 27.36 and a beta of 1.12. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. Sell-side analysts forecast that Four Corners Property Trust will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC raised its position in shares of Four Corners Property Trust by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after buying an additional 527 shares during the period. MML Investors Services LLC raised its position in Four Corners Property Trust by 5.6% in the third quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 635 shares during the period. GAMMA Investing LLC lifted its stake in shares of Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Four Corners Property Trust by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 921 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

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.