Four Corners Property Trust (NYSE:FCPT) Stock Price Target Lowered at JPMorgan Chase & Co.

Four Corners Property Trust (NYSE:FCPT) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $29.00 to $26.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 21.61% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Huntington assumed coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price objective on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Weiss Ratings cut shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group reissued a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Finally, Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.73.

Four Corners Property Trust Trading Up 0.7%

Shares of FCPT stock traded up $0.15 during trading hours on Tuesday, reaching $21.38. The company’s stock had a trading volume of 81,640 shares, compared to its average volume of 854,062. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a one year low of $21.17 and a one year high of $26.86. The stock has a market capitalization of $2.35 billion, a P/E ratio of 19.23 and a beta of 0.80. The firm’s fifty day simple moving average is $24.21 and its 200 day simple moving average is $24.67.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The company had revenue of $78.42 million during the quarter, compared to the consensus estimate of $79.02 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that Four Corners Property Trust will post 1.76 EPS for the current year.

Institutional Trading of Four Corners Property Trust

A number of hedge funds have recently modified their holdings of FCPT. Pensionfund Sabic increased its stake in shares of Four Corners Property Trust by 36.6% in the 3rd quarter. Pensionfund Sabic now owns 28,000 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 7,500 shares in the last quarter. Pensionfund PDN grew its holdings in Four Corners Property Trust by 29.2% in the third quarter. Pensionfund PDN now owns 57,500 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 13,000 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Four Corners Property Trust during the second quarter valued at approximately $249,000. Integrated Wealth Concepts LLC purchased a new position in shares of Four Corners Property Trust during the second quarter valued at approximately $45,000. Finally, IFP Advisors Inc grew its stake in shares of Four Corners Property Trust by 105.8% in the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock worth $28,000 after buying an additional 583 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust that owns and manages a portfolio of primarily restaurant and retail properties. The company generally leases its properties to tenants under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Four Corners was formed through a 2015 spin-off from Darden Restaurants, Inc, separating Darden’s real estate assets from its restaurant operating business.