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

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Zacks Investment Research lowered shares of Four Corners Property Trust (NYSE:FCPT) from a hold rating to a sell rating in a research report report published on Monday morning, 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 research analysts have also recently weighed in on FCPT. Janney Montgomery Scott began coverage on Four Corners Property Trust in a report on Friday, June 21st. They issued a buy rating and a $32.00 price target on the stock. Berenberg Bank set a €126.00 ($146.51) price target on Nemetschek and gave the stock a neutral rating in a report on Tuesday, April 23rd. Barclays restated a hold rating on shares of Mettler-Toledo International in a report on Wednesday, May 15th. Finally, Boenning Scattergood restated 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 given a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average price target of $30.67.

Shares of FCPT stock opened at $27.30 on Monday. The stock has a market cap of $1.86 billion, a P/E ratio of 19.46 and a beta of 0.18. The stock’s 50 day simple moving average is $28.04. Four Corners Property Trust has a 12-month low of $24.43 and a 12-month high of $29.85. The company has a current ratio of 5.78, a quick ratio of 5.78 and a debt-to-equity ratio of 0.89.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Tuesday, April 23rd. 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 business 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 12.63% and a net margin of 56.35%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $0.34 earnings per share. Analysts expect that Four Corners Property Trust will post 1.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, June 27th. Four Corners Property Trust’s dividend payout ratio is currently 81.56%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. purchased a new position in shares of Four Corners Property Trust during the 1st quarter worth $26,000. NumerixS Investment Technologies Inc lifted its stake in shares of Four Corners Property Trust by 50.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 400 shares during the period. Marshall Wace North America L.P. lifted its stake in shares of Four Corners Property Trust by 37.8% during the 1st quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 638 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in shares of Four Corners Property Trust during the 1st quarter worth $101,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Four Corners Property Trust during the 1st quarter worth $206,000. Institutional investors and hedge funds own 89.88% of the company’s stock.

Four Corners Property Trust Company Profile

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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