UBS Group Initiates Coverage on Four Corners Property Trust (NYSE:FCPT)

Equities researchers at UBS Group initiated coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $33.00 price target on the financial services provider’s stock. UBS Group’s price objective points to a potential upside of 18.32% from the company’s current price.

Other research analysts also recently issued reports about the company. Evercore ISI boosted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Raymond James boosted their price target 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. Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Trading Down 0.1 %

NYSE FCPT opened at $27.89 on Thursday. The stock has a market cap of $2.70 billion, a P/E ratio of 26.07 and a beta of 1.11. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $28.97 and a two-hundred day simple moving average of $26.79. Four Corners Property Trust has a 12-month low of $22.38 and a 12-month high of $30.93.

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

Institutional Investors Weigh In On Four Corners Property Trust

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in Four Corners Property Trust by 11.9% during the 1st quarter. BNP Paribas Financial Markets now owns 45,236 shares of the financial services provider’s stock valued at $1,107,000 after acquiring an additional 4,826 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Four Corners Property Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 18,248 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 1,255 shares in the last quarter. Entropy Technologies LP grew its position in shares of Four Corners Property Trust by 7.4% in the first quarter. Entropy Technologies LP now owns 20,734 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 1,432 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Four Corners Property Trust by 48.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,709 shares of the financial services provider’s stock valued at $986,000 after purchasing an additional 11,961 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in Four Corners Property Trust by 33.8% during the first quarter. Centersquare Investment Management LLC now owns 19,426 shares of the financial services provider’s stock worth $456,000 after buying an additional 4,910 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.