Four Corners Property Trust (NYSE:FCPT) Sets New 12-Month High on Earnings Beat

Four Corners Property Trust, Inc. (NYSE:FCPT) reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $42.00 and last traded at $27.73, with a volume of 1149 shares trading hands. The stock had previously closed at $27.75.

The financial services provider reported $0.44 earnings per share 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%.

Analysts Set New Price Targets

FCPT has been the topic of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday. UBS Group initiated coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Barclays lowered their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Four Corners Property Trust has a consensus rating of “Moderate Buy” and an average price target of $30.40.

Institutional Trading of Four Corners Property Trust

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in Four Corners Property Trust by 13.3% during the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after buying an additional 3,315 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Four Corners Property Trust by 6.1% during the third quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock worth $10,236,000 after acquiring an additional 20,028 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Four Corners Property Trust by 211.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after acquiring an additional 108,345 shares during the last quarter. SG Americas Securities LLC raised its position in Four Corners Property Trust by 91.2% during the fourth quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 4,708 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Four Corners Property Trust by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after acquiring an additional 27,552 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 26.56 and a beta of 1.14. The business’s 50-day simple moving average is $27.69 and its 200-day simple moving average is $28.22.

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.