Boenning & Scattergood analyst Merrill Ross maintained a Buy rating on Four Corners Property Trust (FCPT) today and set a price target of $30. The company’s shares opened today at $28.14, close to its 52-week high of $28.68.
Ross commented:
“We believe it can utilize this premium valuation to drive NAV expansion, though we expect management to be disciplined and to not grow for the sake of growth. We maintain an Outperform rating on the shares and believe the risks to the recently increased dividend are low. Our $30 price target is based on the potential to grow NAV over time using a strong currency.”
According to TipRanks.com, Ross is a 2-star analyst with an average return of 0.0% and a 53.1% success rate. Ross covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Pennsylvania Real Estate Investment, and Monmouth Real Estate Investment.
Four Corners Property Trust has an analyst consensus of Moderate Buy, with a price target consensus of $29.
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Four Corners Property Trust’s market cap is currently $1.91B and has a P/E ratio of 21.92. The company has a Price to Book ratio of 2.77.
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Four Corners Property Trust, Inc. operates as a real estate investment trust, which owns, acquires and leases properties for use in the restaurant and food-service related industries. It operates through the following segments Real Estate operations and Restaurant operations.
