Huntington Sec Begins Coverage on Four Corners Property Trust (NYSE:FCPT)

Investment analysts at Huntington Sec started coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research report issued on Wednesday, Zacks reports. The brokerage set a “strong-buy” rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on FCPT. Barclays decreased their target price on shares of Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. JPMorgan Chase & Co. cut their price target on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. UBS Group reaffirmed a “buy” rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Finally, Jefferies Financial Group set a $28.00 price objective on Four Corners Property Trust in a report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and an average price target of $26.70.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $22.47 on Wednesday. The company has a market cap of $2.47 billion, a PE ratio of 20.61 and a beta of 0.80. The company has a current ratio of 0.12, a quick ratio of 0.14 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $22.88 and a 200-day moving average price of $24.48. Four Corners Property Trust has a 12-month low of $20.85 and a 12-month high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The company had revenue of $83.68 million during the quarter, compared to analysts’ expectations of $82.44 million. During the same period in the prior year, the firm earned $0.45 EPS. Four Corners Property Trust’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that Four Corners Property Trust will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FCPT. IFP Advisors Inc boosted its position in Four Corners Property Trust by 105.8% during the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 583 shares during the period. Bessemer Group Inc. grew its holdings in Four Corners Property Trust by 326.1% in the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,262 shares during the last quarter. Covestor Ltd increased its position in shares of Four Corners Property Trust by 40.0% in the third quarter. Covestor Ltd now owns 1,799 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 514 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Four Corners Property Trust in the second quarter valued at about $45,000. Finally, Nykredit A S purchased a new position in shares of Four Corners Property Trust in the second quarter valued at about $49,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.