Zacks Investment Research upgraded shares of Four Corners Property Trust Inc. (NYSE:FCPT) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $21.00 price target on the stock.

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, JMP Securities downgraded Four Corners Property Trust from an outperform rating to a market perform rating in a research note on Monday, August 22nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Four Corners Property Trust presently has a consensus rating of Hold and an average target price of $22.00.

Four Corners Property Trust (NYSE:FCPT) traded down 0.53% during mid-day trading on Tuesday, reaching $18.91. 8,504 shares of the company were exchanged. The stock’s 50-day moving average price is $19.72 and its 200-day moving average price is $20.30. Four Corners Property Trust has a 1-year low of $14.09 and a 1-year high of $24.44. The stock has a market capitalization of $1.13 billion and a price-to-earnings ratio of 8.74.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Four Corners Property Trust had a return on equity of 29.56% and a net margin of 115.37%. The firm earned $30.82 million during the quarter, compared to the consensus estimate of $19.53 million. During the same period in the prior year, the company earned $1.00 EPS. The firm’s revenue was up 598.9% compared to the same quarter last year. On average, equities research analysts anticipate that Four Corners Property Trust will post $1.32 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Four Corners Property Trust by 29.7% in the first quarter. Legal & General Group Plc now owns 229,909 shares of the company’s stock worth $4,126,000 after buying an additional 52,618 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Four Corners Property Trust by 150.4% in the first quarter. Squarepoint Ops LLC now owns 47,465 shares of the company’s stock worth $852,000 after buying an additional 28,513 shares during the last quarter. Heitman Real Estate Securities LLC increased its stake in shares of Four Corners Property Trust by 185.5% in the first quarter. Heitman Real Estate Securities LLC now owns 2,965,944 shares of the company’s stock worth $53,239,000 after buying an additional 1,927,232 shares during the last quarter. Laffer Investments increased its stake in shares of Four Corners Property Trust by 50.0% in the first quarter. Laffer Investments now owns 12,251 shares of the company’s stock worth $220,000 after buying an additional 4,083 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Four Corners Property Trust by 1.4% in the second quarter. Capstone Asset Management Co. now owns 21,967 shares of the company’s stock worth $452,000 after buying an additional 305 shares during the last quarter. 90.55% of the stock is owned by hedge funds and other institutional investors.

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About Four Corners Property Trust

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).

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