Four Corners Property Trust (NYSE:FCPT) Sets New 12-Month High Following Better-Than-Expected Earnings

Four Corners Property Trust, Inc. (NYSE:FCPT)’s stock price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $42.00 and last traded at $27.73, with a volume of 1149 shares changing hands. The stock had previously closed at $27.75.

The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FCPT. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. UBS Group started coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Barclays decreased their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Four Corners Property Trust currently has an average rating of “Moderate Buy” and a consensus price target of $30.40.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors have recently bought and sold shares of FCPT. Resona Asset Management Co. Ltd. acquired a new position in shares of Four Corners Property Trust during the fourth quarter valued at approximately $1,051,000. Wells Fargo & Company MN increased its position in shares of Four Corners Property Trust by 0.9% during the fourth quarter. Wells Fargo & Company MN now owns 543,746 shares of the financial services provider’s stock worth $14,757,000 after purchasing an additional 4,832 shares in the last quarter. Centersquare Investment Management LLC raised its stake in Four Corners Property Trust by 5.5% in the 4th quarter. Centersquare Investment Management LLC now owns 21,666 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 1,120 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $66,651,000 after purchasing an additional 98,120 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Four Corners Property Trust by 32.1% during the 4th quarter. Franklin Resources Inc. now owns 37,574 shares of the financial services provider’s stock worth $1,020,000 after purchasing an additional 9,120 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

The stock’s fifty day moving average price is $27.69 and its 200-day moving average price is $28.22. The firm has a market cap of $2.68 billion, a PE ratio of 25.91 and a beta of 1.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17.

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.