Barclays began coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a report published on Wednesday morning, Benzinga reports. The brokerage issued an equal weight rating and a $29.00 price target on the financial services provider’s stock.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered Four Corners Property Trust from a buy rating to a hold rating in a report on Tuesday, April 23rd. Boenning Scattergood reissued a buy rating and set a $30.00 price objective on shares of Four Corners Property Trust in a report on Wednesday, April 24th. Finally, Berenberg Bank assumed coverage on Four Corners Property Trust in a report on Tuesday, April 23rd. They set a hold rating and a $36.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $30.40.
Shares of NYSE:FCPT opened at $29.23 on Wednesday. Four Corners Property Trust has a 1-year low of $21.92 and a 1-year high of $29.85. The company has a market cap of $2.00 billion, a PE ratio of 20.88 and a beta of 0.29. The company has a current ratio of 5.78, a quick ratio of 5.78 and a debt-to-equity ratio of 0.89.
In related news, CFO Gerald R. Morgan sold 3,000 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $27.41, for a total value of $82,230.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel James L. Brat sold 6,000 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $27.41, for a total value of $164,460.00. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in FCPT. Norges Bank acquired a new stake in Four Corners Property Trust in the 4th quarter valued at $22,547,000. Weiss Multi Strategy Advisers LLC acquired a new stake in Four Corners Property Trust in the 4th quarter valued at $20,596,000. Oregon Public Employees Retirement Fund acquired a new stake in Four Corners Property Trust in the 4th quarter valued at $26,000. FMR LLC boosted its stake in Four Corners Property Trust by 9.1% in the 4th quarter. FMR LLC now owns 5,084,348 shares of the financial services provider’s stock valued at $133,209,000 after buying an additional 423,932 shares in the last quarter. Finally, BlackRock Inc. raised its position in Four Corners Property Trust by 2.5% in the 4th quarter. BlackRock Inc. now owns 13,091,181 shares of the financial services provider’s stock valued at $342,988,000 after purchasing an additional 320,071 shares during the last quarter. 91.93% of the stock is currently owned by institutional investors and hedge funds.
About Four Corners Property Trust
FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.
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