Four Corners Property Trust (NYSE:FCPT) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Four Corners Property Trust (NYSE:FCPT) from a hold rating to a sell rating in a research note released on Wednesday, 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. “

A number of other equities analysts also recently commented on FCPT. Barclays initiated coverage on shares of Four Corners Property Trust in a report on Wednesday, May 15th. They issued an equal weight rating and a $29.00 price objective for the company. ValuEngine downgraded shares of Four Corners Property Trust from a buy rating to a hold rating in a report on Wednesday, July 31st. 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 price objective for the company. Boenning Scattergood reaffirmed a buy rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a report on Wednesday, April 24th. Finally, Berenberg Bank raised shares of Four Corners Property Trust from a hold rating to a buy rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $31.40.



FCPT opened at $27.89 on Wednesday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 19.78 and a beta of 0.18. The firm’s 50 day moving average is $27.48 and its 200-day moving average is $28.22. Four Corners Property Trust has a 52-week low of $24.58 and a 52-week high of $29.85. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.90.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). The company had revenue of $39.57 million during the quarter, compared to the consensus estimate of $40.64 million. Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Equities analysts expect that Four Corners Property Trust will post 1.44 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in FCPT. Dimensional Fund Advisors LP raised its position in Four Corners Property Trust by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 962,170 shares of the financial services provider’s stock worth $25,209,000 after acquiring an additional 27,864 shares in the last quarter. Geode Capital Management LLC raised its holdings in Four Corners Property Trust by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 712,421 shares of the financial services provider’s stock worth $18,665,000 after buying an additional 40,457 shares during the period. Deutsche Bank AG raised its holdings in Four Corners Property Trust by 22.6% during the 4th quarter. Deutsche Bank AG now owns 173,526 shares of the financial services provider’s stock worth $4,543,000 after buying an additional 31,947 shares during the period. Raymond James Trust N.A. acquired a new stake in Four Corners Property Trust during the 1st quarter worth about $206,000. Finally, Nisa Investment Advisors LLC raised its holdings in Four Corners Property Trust by 28.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 14,115 shares of the financial services provider’s stock worth $418,000 after buying an additional 3,150 shares during the period. 88.05% 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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