Four Corners Property Trust (FCPT) Rating Lowered to Hold at Zacks Investment Research

Four Corners Property Trust (NYSE:FCPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” 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 analysts have also commented on the stock. Berenberg Bank assumed coverage on shares of Four Corners Property Trust in a report on Tuesday. They issued a “hold” rating and a $36.00 price objective for the company. Boenning Scattergood set a $30.00 price objective on shares of Four Corners Property Trust and gave the stock a “buy” rating in a report on Friday, February 15th. Finally, ValuEngine upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.75.

Four Corners Property Trust stock opened at $28.12 on Tuesday. The company has a quick ratio of 6.24, a current ratio of 6.24 and a debt-to-equity ratio of 0.88. The stock has a market cap of $1.91 billion, a PE ratio of 19.94 and a beta of 0.34. Four Corners Property Trust has a 1-year low of $21.92 and a 1-year high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.10). The firm had revenue of $39.60 million for the quarter, compared to analysts’ expectations of $39.84 million. Four Corners Property Trust had a return on equity of 13.25% and a net margin of 57.37%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. Sell-side analysts predict that Four Corners Property Trust will post 1.48 earnings per share for the current year.

In other Four Corners Property Trust news, CFO Gerald R. Morgan sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $27.41, for a total value of $82,230.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel James L. Brat sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $27.41, for a total transaction of $164,460.00. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of Four Corners Property Trust by 2.7% during the fourth quarter. M&T Bank Corp now owns 13,804 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 363 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Four Corners Property Trust by 1.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 34,696 shares of the financial services provider’s stock valued at $907,000 after purchasing an additional 395 shares during the last quarter. NumerixS Investment Technologies Inc lifted its holdings in shares of Four Corners Property Trust by 50.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Four Corners Property Trust by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 45,273 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 524 shares during the last quarter. Finally, Eaton Vance Management lifted its holdings in shares of Four Corners Property Trust by 4.9% during the fourth quarter. Eaton Vance Management now owns 11,549 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

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 by acquiring additional real estate to lease, on a net basis, for use in the restaurant and related food services industry.

Further Reading: How to Invest in Growth Stocks

Get a free copy of the Zacks research report on Four Corners Property Trust (FCPT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Four Corners Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Four Corners Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.