Four Corners Property Trust (NYSE:FCPT) Sees Unusually-High Trading Volume – Time to Buy?

Four Corners Property Trust, Inc. (NYSE:FCPT) shares saw unusually-strong trading volume on Monday . Approximately 717,226 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 490,761 shares.The stock last traded at $28.30 and had previously closed at $27.97.

Analyst Upgrades and Downgrades

Several research firms recently commented on FCPT. UBS Group began coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price target on the stock. Barclays reduced their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.40.

Four Corners Property Trust Trading Up 1.0 %

The firm has a market cap of $2.82 billion, a P/E ratio of 26.40 and a beta of 1.14. The business’s 50 day moving average is $27.52 and its 200-day moving average is $28.26. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. As a group, analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning lifted its holdings in Four Corners Property Trust by 13.3% in the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after acquiring an additional 3,315 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 921 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Four Corners Property Trust during the 3rd quarter valued at about $243,000. Boston Trust Walden Corp raised its position in shares of Four Corners Property Trust by 9.5% during the 3rd quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock worth $39,061,000 after buying an additional 115,924 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of Four Corners Property Trust by 10.5% in the 3rd quarter. abrdn plc now owns 18,139 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 1,731 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

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.