BidaskClub cut shares of Four Corners Property Trust, Inc. (NYSE:FCPT) from a buy rating to a hold rating in a research report released on Friday.

Other analysts also recently issued research reports about the company. Zacks Investment Research raised Four Corners Property Trust from a hold rating to a buy rating and set a $28.00 target price on the stock in a research note on Wednesday, July 12th. Ladenburg Thalmann Financial Services reaffirmed a buy rating on shares of Four Corners Property Trust in a research note on Thursday. Finally, Canaccord Genuity initiated coverage on Four Corners Property Trust in a research note on Tuesday, July 18th. They set a hold rating and a $26.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $27.00.

Shares of Four Corners Property Trust (NYSE FCPT) traded up 0.62% on Friday, reaching $24.43. The company had a trading volume of 65,595 shares. The stock has a 50 day moving average price of $25.33 and a 200-day moving average price of $23.27. Four Corners Property Trust has a 12 month low of $16.71 and a 12 month high of $25.94. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 18.84 and a beta of 0.15.

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

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The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Wednesday, June 28th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 71.85%.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Four Corners Property Trust by 13,867.2% in the first quarter. BlackRock Inc. now owns 8,766,236 shares of the financial services provider’s stock valued at $200,133,000 after buying an additional 8,703,473 shares during the last quarter. FMR LLC raised its stake in Four Corners Property Trust by 832.7% in the first quarter. FMR LLC now owns 860,141 shares of the financial services provider’s stock valued at $19,637,000 after buying an additional 767,921 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Four Corners Property Trust by 162.4% in the first quarter. Ameriprise Financial Inc. now owns 804,651 shares of the financial services provider’s stock valued at $18,371,000 after buying an additional 498,037 shares during the last quarter. Norges Bank purchased a new stake in Four Corners Property Trust during the fourth quarter valued at approximately $9,776,000. Finally, Citadel Advisors LLC raised its stake in Four Corners Property Trust by 471.1% in the first quarter. Citadel Advisors LLC now owns 516,681 shares of the financial services provider’s stock valued at $11,796,000 after buying an additional 426,213 shares during the last quarter. Institutional investors own 87.90% of the company’s stock.

About Four Corners Property Trust

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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