Four Corners Property Trust (NYSE:FCPT) Stock Rating Lowered by Zacks Investment Research


Share on StockTwits

Four Corners Property Trust (NYSE:FCPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “

Separately, Raymond James raised their target price on shares of Four Corners Property Trust from $32.00 to $34.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 12th.

Shares of NYSE FCPT opened at $29.39 on Wednesday. The firm has a market capitalization of $2.24 billion, a PE ratio of 27.47 and a beta of 0.84. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.98. Four Corners Property Trust has a 1 year low of $16.34 and a 1 year high of $30.42. The firm’s 50-day moving average is $28.00 and its 200-day moving average is $27.88.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Tuesday, February 16th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Four Corners Property Trust had a net margin of 45.45% and a return on equity of 10.54%. As a group, equities research analysts anticipate that Four Corners Property Trust will post 1.39 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its holdings in Four Corners Property Trust by 6.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 30,252 shares of the financial services provider’s stock worth $829,000 after buying an additional 1,754 shares during the period. Exchange Traded Concepts LLC raised its holdings in Four Corners Property Trust by 60.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 34,720 shares of the financial services provider’s stock worth $951,000 after buying an additional 13,062 shares during the period. Louisiana State Employees Retirement System raised its holdings in Four Corners Property Trust by 2.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the financial services provider’s stock worth $948,000 after buying an additional 800 shares during the period. State of Alaska Department of Revenue raised its holdings in Four Corners Property Trust by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 79,927 shares of the financial services provider’s stock worth $2,189,000 after buying an additional 1,919 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in Four Corners Property Trust during the 1st quarter worth approximately $347,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, 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 retail industries.

See Also: How Do Front-End Loads Impact an Investment?

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.