Four Corners Property Trust, Inc. (NYSE:FCPT) Lowered to Hold at BidaskClub

BidaskClub lowered shares of Four Corners Property Trust, Inc. (NYSE:FCPT) from a buy rating to a hold rating in a research report report published on Friday, August 4th.

Several other brokerages have also recently weighed in on FCPT. Ladenburg Thalmann Financial Services reaffirmed a buy rating on shares of Four Corners Property Trust in a report on Thursday, August 3rd. Zacks Investment Research cut Four Corners Property Trust from a hold rating to a sell rating in a report on Tuesday, May 9th. Finally, Canaccord Genuity initiated coverage on Four Corners Property Trust in a report on Tuesday, July 18th. They issued a hold rating and a $26.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Four Corners Property Trust has an average rating of Hold and an average target price of $26.75.

Four Corners Property Trust (NYSE:FCPT) traded up 0.20% during midday trading on Friday, reaching $24.99. The company had a trading volume of 271,885 shares. Four Corners Property Trust has a 52-week low of $16.71 and a 52-week high of $25.94. The company’s 50-day moving average is $24.94 and its 200 day moving average is $23.54. The company has a market cap of $1.53 billion, a PE ratio of 18.44 and a beta of 0.15.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $33.33 million. Four Corners Property Trust had a net margin of 63.74% and a return on equity of 17.21%. Four Corners Property Trust’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, equities research analysts forecast that Four Corners Property Trust will post $1.03 EPS for the current year.

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Several institutional investors have recently bought and sold shares of FCPT. WINTON GROUP Ltd boosted its position in Four Corners Property Trust by 46.1% in the second quarter. WINTON GROUP Ltd now owns 66,009 shares of the financial services provider’s stock worth $1,657,000 after buying an additional 20,828 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Four Corners Property Trust during the second quarter worth approximately $326,000. Raymond James Financial Services Advisors Inc. boosted its position in Four Corners Property Trust by 24.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,838 shares of the financial services provider’s stock worth $674,000 after buying an additional 5,320 shares during the period. State Street Corp boosted its position in Four Corners Property Trust by 6.7% in the second quarter. State Street Corp now owns 1,745,481 shares of the financial services provider’s stock worth $43,831,000 after buying an additional 109,180 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Four Corners Property Trust by 1.3% in the second quarter. Goldman Sachs Group Inc. now owns 322,043 shares of the financial services provider’s stock worth $8,086,000 after buying an additional 4,085 shares during the period. 85.86% of the stock is owned by institutional investors.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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