Four Corners Property Trust initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Four Corners Property Trust with an Overweight rating and $28 price target. The analyst says the company can take advantage of a buyer’s market with a “strong” cost of capital to drive growth. Four Corners’ “reasonable” near-term debt maturities and tenant credit metrics “reinforce a positive thesis” for the shares, the analyst tells investors in a research note.