Four Corners Property Trust (NYSE:FCPT) Reaches New 52-Week High at $30.80

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Raymond James upped their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Evercore ISI increased their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Four Corners Property Trust Stock Up 1.3 %

The firm’s 50-day simple moving average is $27.39 and its 200-day simple moving average is $25.30. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 28.41 and a beta of 1.10.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC raised its holdings in shares of Four Corners Property Trust by 25,000.0% in the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,000 shares during the last quarter. Covestor Ltd boosted its stake in shares of Four Corners Property Trust by 23.2% in the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Four Corners Property Trust by 1,469.1% during the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after buying an additional 3,467 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Four Corners Property Trust by 85.3% in the fourth quarter. Quadrant Capital Group LLC now owns 7,289 shares of the financial services provider’s stock valued at $184,000 after buying an additional 3,355 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Four Corners Property Trust by 491.0% in the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 6,624 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

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.