Wells Fargo & Company Has Lowered Expectations for Four Corners Property Trust (NYSE:FCPT) Stock Price

Four Corners Property Trust (NYSE:FCPT) had its price objective lowered by equities research analysts at Wells Fargo & Company from $27.00 to $25.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 3.27% from the stock’s previous close.

Several other analysts have also commented on FCPT. Raymond James Financial reduced their price target on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Robert W. Baird set a $29.00 target price on Four Corners Property Trust in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Tuesday, October 14th. Wall Street Zen raised Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, UBS Group boosted their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Hold” and an average target price of $28.40.

Four Corners Property Trust Trading Up 1.0%

Shares of NYSE FCPT traded up $0.25 during trading on Tuesday, hitting $24.21. 120,097 shares of the company were exchanged, compared to its average volume of 674,934. The company has a fifty day moving average price of $24.26 and a 200-day moving average price of $25.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $2.57 billion, a PE ratio of 22.21 and a beta of 0.88. 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 data on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $74.15 million during the quarter, compared to analysts’ expectations of $71.86 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. Four Corners Property Trust’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. As a group, equities research analysts expect that Four Corners Property Trust will post 1.68 EPS for the current year.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 7,850 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $25.40 per share, with a total value of $199,390.00. Following the acquisition, the chief executive officer directly owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. This represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas B. Hansen acquired 1,984 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average price of $23.64 per share, for a total transaction of $46,901.76. Following the acquisition, the director owned 78,247 shares in the company, valued at approximately $1,849,759.08. The trade was a 2.60% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings in Four Corners Property Trust by 80.1% during the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 463 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Four Corners Property Trust in the 2nd quarter valued at $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Four Corners Property Trust during the 2nd quarter worth $37,000. Costello Asset Management INC purchased a new stake in Four Corners Property Trust in the first quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd lifted its position in Four Corners Property Trust by 1,632.6% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 1,551 shares during the last quarter. 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.