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

A number of other analysts have also commented 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 upgraded Four Corners Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. ValuEngine lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Boenning Scattergood restated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Wednesday, April 24th. Finally, Barclays began coverage on Four Corners Property Trust in a report on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Four Corners Property Trust has an average rating of “Hold” and a consensus target price of $31.40.

FCPT stock traded up $0.12 during midday trading on Wednesday, hitting $27.90. 160,100 shares of the company’s stock were exchanged, compared to its average volume of 383,595. The stock’s fifty day moving average price is $27.47 and its 200-day moving average price is $28.22. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. The company has a market cap of $1.91 billion, a PE ratio of 19.79 and a beta of 0.18. Four Corners Property Trust has a one year low of $24.58 and a one year high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). The firm had revenue of $39.57 million during the quarter, compared to the consensus estimate of $40.64 million. Four Corners Property Trust had a net margin of 48.31% and a return on equity of 10.75%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. On average, analysts expect that Four Corners Property Trust will post 1.44 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Everence Capital Management Inc. acquired a new stake in shares of Four Corners Property Trust in the first quarter valued at about $274,000. California Public Employees Retirement System increased its position in shares of Four Corners Property Trust by 19.1% in the first quarter. California Public Employees Retirement System now owns 109,861 shares of the financial services provider’s stock valued at $3,252,000 after acquiring an additional 17,595 shares during the last quarter. Arizona State Retirement System increased its position in shares of Four Corners Property Trust by 0.6% in the second quarter. Arizona State Retirement System now owns 106,106 shares of the financial services provider’s stock valued at $2,900,000 after acquiring an additional 668 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at about $234,000. Finally, Texas Permanent School Fund increased its position in shares of Four Corners Property Trust by 4.7% in the first quarter. Texas Permanent School Fund now owns 46,408 shares of the financial services provider’s stock valued at $1,374,000 after acquiring an additional 2,070 shares during the last quarter. Institutional investors own 88.05% 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.

Further Reading: Cost of Goods Sold (COGS)

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