JPMorgan Lowers Four Corners Property Trust Price Target to $26

Four Corners Property Trust (NYSE: FCPT) recently saw its price target lowered by JPMorgan Chase & Co. from $29.00 to $26.00, according to a report released on Tuesday. The firm maintains a "neutral" rating on the stock, suggesting a potential upside of 21.61% from the company's previous close.

Other brokerages have also weighed in on FCPT. Jefferies Financial Group set a $28.00 price target, while Weiss Ratings downgraded the stock from a "hold (c+)" to a "hold (c)" rating. Citizens Jmp reaffirmed a "market outperform" rating with a $28.00 price target, and Citigroup restated a "market outperform" rating. Barclays increased their price target to $30.00 with an "equal weight" rating.

Analysts have mixed opinions on FCPT, with five rating it as a "Buy" and six as a "Hold." The consensus rating stands at "Hold," with an average price target of $27.73. Shares of FCPT traded up $0.15 during mid-day trading on Tuesday, reaching $21.38.

Four Corners Property Trust reported quarterly earnings of $0.45 per share, exceeding analysts' estimates of $0.29. The company's revenue was $78.42 million, slightly below the consensus estimate of $79.02 million. Institutional investors have been active, with BlackRock Inc. acquiring a new position valued at $490.4 million and other firms increasing their stakes significantly.