Wells Fargo & Company Cuts Four Corners Property Trust (NYSE:FCPT) Price Target to $25.00

by · The Markets Daily

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

FCPT has been the topic of several other research reports. UBS Group raised their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Raymond James Financial reduced their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Barclays decreased their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Finally, Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Four Corners Property Trust has an average rating of “Hold” and a consensus target price of $28.40.

Read Our Latest Report on FCPT

Four Corners Property Trust Price Performance

FCPT traded up $0.25 on Tuesday, reaching $24.21. The company had a trading volume of 120,097 shares, compared to its average volume of 674,934. The business has a 50 day simple moving average of $24.26 and a 200 day simple moving average 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 company has a market cap of $2.57 billion, a price-to-earnings ratio of 22.21 and a beta of 0.88. Four Corners Property Trust has a 52-week low of $23.05 and a 52-week high of $30.12.

Four Corners Property Trust (NYSE:FCPT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The company had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.86 million. During the same period in the previous year, the firm posted $0.43 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Four Corners Property Trust will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, CAO Niccole Stewart sold 3,950 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total transaction of $99,935.00. Following the sale, the chief accounting officer owned 27,502 shares of the company’s stock, valued at $695,800.60. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas B. Hansen bought 1,984 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $23.64 per share, with a total value of $46,901.76. Following the completion of the purchase, the director owned 78,247 shares of the company’s stock, valued at $1,849,759.08. This represents a 2.60% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCPT. Parallel Advisors LLC raised its position 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 valued at $25,000 after acquiring an additional 463 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at about $27,000. Elevation Point Wealth Partners LLC purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $37,000. Costello Asset Management INC acquired a new position in Four Corners Property Trust in the 1st quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd raised its position in shares of 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 buying an additional 1,551 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

About Four Corners Property Trust

(Get Free Report)

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.

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