Zacks Investment Research Downgrades Four Corners Property Trust (NYSE:FCPT) to Sell

Four Corners Property Trust (NYSE:FCPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Four Corners Property Trust, Inc. is involved in the acquisition and leasing of restaurant locations. Four Corners is headquartered in Mill Valley, CA. “

Several other research firms also recently weighed in on FCPT. Berenberg Bank set a €126.00 ($146.51) target price on shares of Nemetschek and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Janney Montgomery Scott initiated coverage on shares of Four Corners Property Trust in a report on Friday, June 21st. They issued a “buy” rating and a $32.00 target price for the company. Barclays reiterated a “hold” rating on shares of Mettler-Toledo International in a report on Wednesday, May 15th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of First Commonwealth Financial in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.67.



Shares of NYSE FCPT traded down $0.23 during midday trading on Tuesday, reaching $27.84. 880,701 shares of the stock were exchanged, compared to its average volume of 389,050. The firm has a 50 day moving average of $28.28. The stock has a market cap of $1.92 billion, a PE ratio of 19.74 and a beta of 0.18. The company has a quick ratio of 5.78, a current ratio of 5.78 and a debt-to-equity ratio of 0.89. Four Corners Property Trust has a twelve month low of $24.43 and a twelve month high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.10). Four Corners Property Trust had a return on equity of 12.63% and a net margin of 56.35%. The firm had revenue of $39.60 million for the quarter, compared to analyst estimates of $39.84 million. During the same quarter in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts predict that Four Corners Property Trust will post 1.45 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Royal London Asset Management Ltd. purchased a new position in Four Corners Property Trust in the 1st quarter valued at approximately $26,000. NumerixS Investment Technologies Inc boosted its position in Four Corners Property Trust by 50.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 400 shares during the period. Marshall Wace North America L.P. boosted its position in Four Corners Property Trust by 37.8% in the 1st quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock valued at $69,000 after buying an additional 638 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in Four Corners Property Trust in the 1st quarter valued at approximately $101,000. Finally, Raymond James Trust N.A. purchased a new position in Four Corners Property Trust in the 1st quarter valued at approximately $206,000. 89.89% of the stock is owned by institutional investors.

About Four Corners Property Trust

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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