Zacks Investment Research upgraded shares of Four Corners Property Trust Inc. (NYSE:FCPT) from a sell rating to a hold rating in a report released on Tuesday morning.

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. “

Several other research firms have also issued reports on FCPT. Robert W. Baird lowered Four Corners Property Trust from an outperform rating to a neutral rating and upped their target price for the company from $20.00 to $21.00 in a report on Tuesday, July 12th. JMP Securities lowered Four Corners Property Trust from an outperform rating to a market perform rating in a report on Monday, August 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $22.33.

Shares of Four Corners Property Trust (NYSE:FCPT) traded up 0.35% during trading on Tuesday, reaching $20.00. The company’s stock had a trading volume of 33,492 shares. The stock has a market cap of $1.20 billion and a P/E ratio of 10.46. The stock has a 50-day moving average of $20.69 and a 200-day moving average of $19.95. Four Corners Property Trust has a 52-week low of $14.09 and a 52-week high of $24.44.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. The firm earned $30.90 million during the quarter, compared to the consensus estimate of $4.62 million. Four Corners Property Trust’s revenue for the quarter was up 569.0% compared to the same quarter last year. Analysts predict that Four Corners Property Trust will post $1.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.97 annualized dividend and a dividend yield of 4.87%.

Several large investors have recently bought and sold shares of FCPT. Hilton Capital Management LLC increased its stake in Four Corners Property Trust by 10.0% in the third quarter. Hilton Capital Management LLC now owns 348,640 shares of the company’s stock valued at $7,436,000 after buying an additional 31,670 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Four Corners Property Trust by 32.5% in the third quarter. Independent Portfolio Consultants Inc. now owns 11,670 shares of the company’s stock worth $249,000 after buying an additional 2,865 shares during the period. Macquarie Group Ltd. increased its stake in shares of Four Corners Property Trust by 470.8% in the second quarter. Macquarie Group Ltd. now owns 9,093 shares of the company’s stock worth $187,000 after buying an additional 7,500 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of Four Corners Property Trust during the second quarter worth about $217,000. Finally, IFP Advisors Inc increased its stake in shares of Four Corners Property Trust by 148.3% in the second quarter. IFP Advisors Inc now owns 19,846 shares of the company’s stock worth $409,000 after buying an additional 11,852 shares during the period. Hedge funds and other institutional investors own 89.40% of the company’s stock.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a self-administered company, which is engaged in the ownership, acquisition and leasing of restaurant properties. The Company’s business is conducted through its subsidiaries, Four Corners Operating Partnership, LP (Four Corners OP) and Four Corners GP, LLC (Four Corners GP).

5 Day Chart for NYSE:FCPT

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