Stock analysts at Canaccord Genuity initiated coverage on shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in a research note issued on Tuesday, The Fly reports. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Zacks Investment Research raised Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, July 12th.

Four Corners Property Trust (FCPT) opened at 25.26 on Tuesday. Four Corners Property Trust has a 52-week low of $16.71 and a 52-week high of $25.94. The company has a market capitalization of $1.52 billion, a P/E ratio of 19.48 and a beta of 0.18. The stock’s 50 day moving average price is $24.71 and its 200-day moving average price is $22.43.

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Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Four Corners Property Trust by 13,867.2% in the first quarter. BlackRock Inc. now owns 8,766,236 shares of the financial services provider’s stock valued at $200,133,000 after buying an additional 8,703,473 shares during the last quarter. FMR LLC raised its position in Four Corners Property Trust by 832.7% in the first quarter. FMR LLC now owns 860,141 shares of the financial services provider’s stock valued at $19,637,000 after buying an additional 767,921 shares during the last quarter. Ameriprise Financial Inc. raised its position in Four Corners Property Trust by 162.4% in the first quarter. Ameriprise Financial Inc. now owns 804,651 shares of the financial services provider’s stock valued at $18,371,000 after buying an additional 498,037 shares during the last quarter. Norges Bank purchased a new position in Four Corners Property Trust during the fourth quarter valued at about $9,776,000. Finally, Citadel Advisors LLC raised its position in Four Corners Property Trust by 471.1% in the first quarter. Citadel Advisors LLC now owns 516,681 shares of the financial services provider’s stock valued at $11,796,000 after buying an additional 426,213 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

The Fly

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