Four Corners Property Trust (NYSE:FCPT) Sets New 52-Week High After Strong Earnings

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) reached 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 trading hands. The stock had previously closed at $27.75.

The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%.

Analysts Set New Price Targets

A number of research firms recently commented on FCPT. UBS Group initiated coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday. Finally, Barclays cut their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average target price of $30.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. raised its stake in Four Corners Property Trust by 4.1% during the fourth quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 363 shares in the last quarter. Arizona State Retirement System raised its position in shares of Four Corners Property Trust by 1.5% during the 4th quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock valued at $730,000 after buying an additional 406 shares in the last quarter. Eagle Bay Advisors LLC raised its position in shares of Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after buying an additional 425 shares in the last quarter. Mariner LLC lifted its holdings in shares of Four Corners Property Trust by 2.8% in the 4th quarter. Mariner LLC now owns 17,098 shares of the financial services provider’s stock valued at $464,000 after acquiring an additional 467 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Four Corners Property Trust by 1.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider’s stock worth $1,226,000 after acquiring an additional 469 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Stock Down 2.2 %

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The company has a 50 day simple moving average of $27.64 and a two-hundred day simple moving average of $28.23. The company has a market capitalization of $2.69 billion, a P/E ratio of 25.97 and a beta of 1.14.

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.