Four Corners Property Trust (NYSE:FCPT) Stock Price Target Cut by JPMorgan Chase & Co.

Four Corners Property Trust (NYSE:FCPT) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $29.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 23.55% from the stock’s current price.

Several other brokerages also recently commented on FCPT. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. UBS Group reissued a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Citizens Jmp restated a “market outperform” rating and issued a $28.00 price target on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, Barclays increased their price objective on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, September 4th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.73.

Four Corners Property Trust Stock Down 1.2%

Shares of FCPT stock opened at $21.04 on Tuesday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 18.96 and a beta of 0.80. Four Corners Property Trust has a one year low of $21.02 and a one year high of $26.86. The company’s fifty day moving average price is $24.01 and its 200-day moving average price is $24.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The company had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter in the previous year, the company earned $0.44 EPS. Four Corners Property Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts expect that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Four Corners Property Trust

Large investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in Four Corners Property Trust by 105.8% during the second 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 last quarter. Bessemer Group Inc. raised its holdings in shares of Four Corners Property Trust by 326.1% during 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 in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Four Corners Property Trust during the 2nd quarter worth approximately $45,000. Nykredit A S bought a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Four Corners Property Trust by 44.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,181 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 667 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Company Profile

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

Four Corners was formed through a 2015 spin-off from Darden Restaurants, Inc, separating Darden’s real estate assets from its restaurant operating business.