Wells Fargo & Company Upgrades Four Corners Property Trust (NYSE:FCPT) to “Strong-Buy”

Four Corners Property Trust (NYSE:FCPT) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

Separately, JMP Securities initiated coverage on shares of Four Corners Property Trust in a research note on Monday, July 8th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

Four Corners Property Trust Stock Up 0.7 %

FCPT stock opened at $27.02 on Monday. The business’s fifty day moving average price is $25.66 and its two-hundred day moving average price is $24.53. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 25.25 and a beta of 1.08. Four Corners Property Trust has a fifty-two week low of $20.51 and a fifty-two week high of $27.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Four Corners Property Trust will post 1.65 earnings per share for the current year.

Insider Buying and Selling at Four Corners Property Trust

In related news, CEO William H. Lenehan bought 6,230 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $24.05 per share, with a total value of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at $14,920,475.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William H. Lenehan purchased 6,230 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the acquisition, the chief executive officer now owns 620,394 shares in the company, valued at $14,920,475.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John S. Moody sold 7,230 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total transaction of $177,568.80. Following the completion of the transaction, the director now owns 61,108 shares in the company, valued at approximately $1,500,812.48. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its holdings in Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 470 shares during the period. Arizona State Retirement System raised its stake in Four Corners Property Trust by 2.2% during the 4th quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock worth $641,000 after buying an additional 539 shares during the period. Eagle Bay Advisors LLC boosted its holdings in Four Corners Property Trust by 66.7% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 600 shares in the last quarter. Cerity Partners LLC grew its stake in Four Corners Property Trust by 3.9% in the fourth quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 849 shares during the period. Finally, CWM LLC grew its stake in Four Corners Property Trust by 183.5% in the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 888 shares during the period. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Company Profile

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.