Zacks Investment Research upgraded shares of Four Corners Property Trust (NYSE:FCPT) from a sell rating to a hold rating in a research report sent to investors on Friday.
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 research firms have also issued reports on FCPT. TheStreet upgraded shares of Four Corners Property Trust from a c rating to a b rating in a report on Monday, October 29th. LADENBURG THALM/SH SH lowered shares of Four Corners Property Trust from a buy rating to a neutral rating and set a $26.00 target price on the stock. in a report on Tuesday, July 31st.
NYSE:FCPT opened at $26.30 on Friday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 19.30 and a beta of 0.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.95 and a current ratio of 2.95. Four Corners Property Trust has a 12-month low of $21.28 and a 12-month high of $27.48.
Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Monday, October 29th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.08). The firm had revenue of $36.12 million during the quarter, compared to analysts’ expectations of $36.38 million. Four Corners Property Trust had a net margin of 57.05% and a return on equity of 13.21%. Four Corners Property Trust’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. Analysts forecast that Four Corners Property Trust will post 1.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.10 annualized dividend and a dividend yield of 4.18%. Four Corners Property Trust’s payout ratio is currently 80.88%.
Hedge funds have recently made changes to their positions in the company. Trust Department MB Financial Bank N A purchased a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $108,000. Eii Capital Management Inc. purchased a new position in shares of Four Corners Property Trust during the 3rd quarter worth about $123,000. Itau Unibanco Holding S.A. purchased a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $166,000. Nisa Investment Advisors LLC purchased a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $265,000. Finally, First Trust Advisors LP lifted its holdings in shares of Four Corners Property Trust by 29.0% during the 3rd quarter. First Trust Advisors LP now owns 12,431 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 2,797 shares during the period. Institutional investors and hedge funds own 88.92% 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 for use in the restaurant and related food services industry.
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