Four Corners Property Trust (FCPT) Given a $30.00 Price Target at Boenning Scattergood

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Boenning Scattergood set a $30.00 target price on Four Corners Property Trust (NYSE:FCPT) in a research report released on Friday morning. The firm currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. TheStreet upgraded shares of Four Corners Property Trust from a c rating to a b rating in a research report on Monday, October 29th. Zacks Investment Research upgraded shares of Four Corners Property Trust from a hold rating to a buy rating and set a $31.00 price target on the stock in a research report on Thursday, January 31st. Finally, ValuEngine upgraded shares of Four Corners Property Trust from a hold rating to a buy rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Four Corners Property Trust presently has an average rating of Buy and a consensus target price of $29.00.

NYSE:FCPT opened at $27.86 on Friday. The firm has a market capitalization of $1.89 billion, a PE ratio of 19.76 and a beta of 0.36. Four Corners Property Trust has a 1-year low of $21.28 and a 1-year high of $28.68. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.75.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). The business had revenue of $38.04 million during the quarter, compared to analyst estimates of $38.76 million. Four Corners Property Trust had a return on equity of 13.82% and a net margin of 57.37%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Research analysts predict that Four Corners Property Trust will post 1.47 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp lifted its holdings in Four Corners Property Trust by 2.7% during the fourth quarter. M&T Bank Corp now owns 13,804 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 363 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Four Corners Property Trust by 1.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 34,696 shares of the financial services provider’s stock valued at $907,000 after purchasing an additional 395 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in Four Corners Property Trust by 50.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 400 shares in the last quarter. Eaton Vance Management lifted its holdings in Four Corners Property Trust by 4.9% during the fourth quarter. Eaton Vance Management now owns 11,549 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 536 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. lifted its holdings in Four Corners Property Trust by 4.6% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 16,124 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 706 shares in the last quarter. 92.54% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 related food services industry.

Read More: Leveraged Buyout (LBO)

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