Four Corners Property Trust, Inc. (FCPT) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Four Corners Property Trust, Inc. (NYSE:FCPT) from a buy rating to a hold rating in a research report released on Wednesday 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. “
A number of other analysts have also recently commented on FCPT. Ladenburg Thalmann Financial Services reaffirmed a buy rating and issued a $27.00 price target (up from $24.00) on shares of Four Corners Property Trust in a research note on Wednesday, August 16th. Raymond James Financial, Inc. raised Four Corners Property Trust from a market perform rating to a buy rating and set a $26.00 price target for the company in a research note on Tuesday, August 15th. BidaskClub raised Four Corners Property Trust from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Finally, UBS Group AG raised Four Corners Property Trust from a market perform rating to an outperform rating in a research note on Tuesday, August 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $27.25.
Shares of Four Corners Property Trust (NYSE:FCPT) opened at $26.60 on Wednesday. The firm has a market capitalization of $1,630.88, a PE ratio of 19.89 and a beta of 0.09. Four Corners Property Trust has a twelve month low of $18.32 and a twelve month high of $26.70.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.10 dividend on an annualized basis and a yield of 4.14%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.24. Four Corners Property Trust’s dividend payout ratio is 68.79%.
Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Four Corners Property Trust during the 2nd quarter worth approximately $106,000. Bessemer Group Inc. bought a new stake in shares of Four Corners Property Trust during the 2nd quarter worth approximately $188,000. Pinebridge Investments L.P. raised its stake in shares of 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 in the last quarter. Quantbot Technologies LP bought a new stake in shares of Four Corners Property Trust during the 3rd quarter worth approximately $199,000. Finally, Schroder Investment Management Group bought a new stake in shares of Four Corners Property Trust during the 3rd quarter worth approximately $201,000. 87.35% of the stock is owned by hedge funds and other institutional investors.
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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