Four Corners Property Trust (NYSE:FCPT) Rating Increased to Hold at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Four Corners Property Trust (NYSE:FCPT – Free Report) from a sell rating to a hold rating in a research note released on Sunday morning.

Several other analysts have also recently weighed in on FCPT. Barclays dropped their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 20th. UBS Group increased their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Raymond James Financial decreased their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price objective (down from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.00.

View Our Latest Stock Analysis on Four Corners Property Trust

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $24.40 on Friday. The firm has a 50 day simple moving average of $25.10 and a 200-day simple moving average of $26.41. Four Corners Property Trust has a 1-year low of $23.64 and a 1-year high of $30.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 22.59 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The business had revenue of $72.84 million during the quarter, compared to analysts’ expectations of $70.27 million. During the same quarter in the prior year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts expect that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.355 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.8%. Four Corners Property Trust’s dividend payout ratio is 131.48%.

Insider Buying and Selling

In other Four Corners Property Trust news, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total transaction of $99,935.00. Following the sale, the chief accounting officer directly owned 27,502 shares in the company, valued at $695,800.60. This represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Lenehan bought 7,850 shares of Four Corners Property Trust stock in a transaction on Friday, September 12th. The shares were acquired at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the acquisition, the chief executive officer owned 698,426 shares in the company, valued at $17,740,020.40. This represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Four Corners Property Trust in the 1st quarter valued at $33,515,000. Nuveen LLC purchased a new position in shares of Four Corners Property Trust in the 1st quarter valued at $18,291,000. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Four Corners Property Trust by 63.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider’s stock valued at $38,539,000 after buying an additional 519,633 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Four Corners Property Trust in the 1st quarter valued at $14,350,000. Finally, Hudson Bay Capital Management LP grew its position in shares of Four Corners Property Trust by 42.9% in the 2nd quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider’s stock valued at $38,836,000 after buying an additional 433,108 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

About Four Corners Property Trust

(Get Free Report)

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.

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