Zacks Investment Research upgraded shares of Four Corners Property Trust, Inc. (NYSE:FCPT) from a hold rating to a buy rating in a research report report published on Tuesday morning. The firm currently has $29.00 target price on the financial services provider’s 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. “

A number of other research analysts also recently issued reports on FCPT. Canaccord Genuity started coverage on shares of Four Corners Property Trust in a research report on Tuesday, July 18th. They issued a hold rating and a $26.00 price objective on the stock. BidaskClub downgraded shares of Four Corners Property Trust from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Ladenburg Thalmann Financial Services reissued a buy rating on shares of Four Corners Property Trust in a research report on Thursday, August 3rd. UBS AG raised shares of Four Corners Property Trust from a market perform rating to an outperform rating in a research report on Tuesday, August 15th. Finally, Raymond James Financial, Inc. raised shares of Four Corners Property Trust from a market perform rating to a buy rating and set a $26.00 target price on the stock in a research report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $27.25.

Four Corners Property Trust (NYSE FCPT) opened at 25.07 on Tuesday. The stock has a 50 day moving average of $25.25 and a 200 day moving average of $24.64. Four Corners Property Trust has a 52 week low of $16.71 and a 52 week high of $25.94. The company has a market cap of $1.53 billion, a P/E ratio of 18.50 and a beta of 0.13.

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

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The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.243 per share. This represents a $0.97 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, September 28th. Four Corners Property Trust’s dividend payout ratio is presently 71.85%.

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $106,000. Ameritas Investment Partners Inc. purchased a new stake in Four Corners Property Trust during the 1st quarter worth approximately $119,000. Bessemer Group Inc. purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $188,000. Pinebridge Investments L.P. grew its position in Four Corners Property Trust by 1.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,908 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 97 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $206,000. 87.80% of the stock is currently 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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