Four Corners Property Trust (NYSE:FCPT) Given New $31.00 Price Target at Wells Fargo & Company

Four Corners Property Trust (NYSE:FCPT) had its price objective increased by Wells Fargo & Company from $30.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 4.56% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Barclays decreased their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group assumed coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Four Corners Property Trust Trading Up 1.1 %

Shares of NYSE:FCPT traded up $0.34 during mid-day trading on Monday, hitting $29.65. The company had a trading volume of 52,705 shares, compared to its average volume of 602,590. The company has a market capitalization of $2.96 billion, a PE ratio of 27.72 and a beta of 1.16. Four Corners Property Trust has a one year low of $22.38 and a one year high of $30.93. The firm has a fifty day moving average price of $27.76 and a 200 day moving average price of $28.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. As a group, research analysts forecast that Four Corners Property Trust will post 1.68 EPS for the current year.

Institutional Trading of Four Corners Property Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in Four Corners Property Trust by 30.6% during the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after acquiring an additional 3,268,064 shares during the period. Vanguard Group Inc. increased its position in shares of Four Corners Property Trust by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider’s stock valued at $295,146,000 after purchasing an additional 240,230 shares during the last quarter. Invesco Ltd. lifted its position in Four Corners Property Trust by 2.9% in the 4th quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock worth $83,395,000 after buying an additional 85,476 shares during the last quarter. Geode Capital Management LLC lifted its position in Four Corners Property Trust by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider’s stock worth $66,651,000 after buying an additional 98,120 shares during the last quarter. Finally, Capital International Investors boosted its stake in Four Corners Property Trust by 25.4% in the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider’s stock worth $61,538,000 after buying an additional 459,542 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

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.