Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report)'s stock price hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $42.00 and last traded at $27.73, with a volume of 1149 shares. The stock had previously closed at $27.75.
The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Barclays lowered their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. UBS Group initiated coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a "buy" rating and a $33.00 price objective on the stock. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.40.
Check Out Our Latest Stock Report on Four Corners Property Trust
Hedge Funds Weigh In On Four Corners Property Trust
A number of institutional investors have recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV raised its position in shares of Four Corners Property Trust by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 12,988 shares of the financial services provider's stock valued at $357,000 after buying an additional 504 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Four Corners Property Trust by 9.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,908 shares of the financial services provider's stock worth $1,490,000 after acquiring an additional 4,729 shares in the last quarter. Lazard Asset Management LLC increased its stake in Four Corners Property Trust by 45.2% in the fourth quarter. Lazard Asset Management LLC now owns 43,931 shares of the financial services provider's stock valued at $1,192,000 after acquiring an additional 13,683 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Four Corners Property Trust during the fourth quarter valued at about $206,000. Finally, Deutsche Bank AG lifted its stake in Four Corners Property Trust by 4.5% during the fourth quarter. Deutsche Bank AG now owns 634,564 shares of the financial services provider's stock worth $17,222,000 after purchasing an additional 27,283 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.
Four Corners Property Trust Stock Performance
The company has a 50 day simple moving average of $27.64 and a 200-day simple moving average of $28.24. 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 stock has a market cap of $2.69 billion, a P/E ratio of 25.97 and a beta of 1.14.
About Four Corners Property Trust
(
Get Free Report)
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.
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