Four Corners Property Trust (NYSE:FCPT) Rating Lowered to “Sell” at Wall Street Zen

Four Corners Property Trust (NYSE:FCPT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research firms have also commented on FCPT. Weiss Ratings reissued a “hold (c+)” rating on shares of Four Corners Property Trust in a research note on Saturday, September 27th. Raymond James Financial cut their price target on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. UBS Group upped their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Finally, Barclays cut their price target on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.00.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $23.87 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $2.49 billion, a P/E ratio of 22.10 and a beta of 0.87. The business’s fifty day moving average is $25.24 and its two-hundred day moving average is $26.56. Four Corners Property Trust has a 52 week low of $23.64 and a 52 week high of $30.12.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Equities research analysts forecast that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other Four Corners Property Trust news, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total value of $99,935.00. Following the transaction, the chief accounting officer owned 27,502 shares of the company’s stock, valued at approximately $695,800.60. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William H. Lenehan bought 7,850 shares of the business’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the purchase, the chief executive officer directly owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC boosted its position in Four Corners Property Trust by 2.2% during the 2nd quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 383 shares in the last quarter. CWM LLC boosted its position in Four Corners Property Trust by 15.0% during the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 389 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Four Corners Property Trust by 5.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 450 shares in the last quarter. Palisades Investment Partners LLC boosted its position in Four Corners Property Trust by 1.5% during the 1st quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 459 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Four Corners Property Trust by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock valued at $509,000 after acquiring an additional 568 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.