Four Corners Property Trust (NYSE:FCPT) Now Covered by Huntington Sec

Analysts at Huntington Sec initiated coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research note issued to investors on Wednesday, Zacks reports. The brokerage set a “strong-buy” rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on FCPT. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Huntington initiated coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. UBS Group reaffirmed a “buy” rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Citizens Jmp reiterated a “market outperform” rating and issued a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Finally, Wells Fargo & Company decreased their target price on shares of Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold 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 target price of $26.70.

Four Corners Property Trust Stock Up 0.6%

NYSE FCPT opened at $22.47 on Wednesday. The business has a fifty day moving average price of $22.88 and a 200 day moving average price of $24.48. Four Corners Property Trust has a one year low of $20.85 and a one year high of $26.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.14 and a current ratio of 0.12. The company has a market cap of $2.47 billion, a P/E ratio of 12.34 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The firm had revenue of $83.68 million during the quarter, compared to analysts’ expectations of $82.44 million. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FCPT. IFP Advisors Inc grew its holdings in shares of Four Corners Property Trust by 105.8% in the second quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 583 shares during the period. Bessemer Group Inc. increased its position in Four Corners Property Trust by 326.1% during the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,262 shares during the last quarter. Covestor Ltd raised its stake in Four Corners Property Trust by 40.0% during the third quarter. Covestor Ltd now owns 1,799 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 514 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Four Corners Property Trust during the second quarter worth about $45,000. Finally, Nykredit A S purchased a new position in Four Corners Property Trust during the second quarter worth about $49,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.