Todays Report: Today, Four Corners Property Trust Inc. (FCPT) Upgrade at The Zacks Investment Research

Today, Four Corners Property Trust Inc. (FCPT) Upgrade at The Zacks Investment Research

Zacks Investment Research upgraded shares of Four Corners Property Trust Inc. (NYSE:FCPT) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $21.00 price objective 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 report on Monday, August 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Four Corners Property Trust has a consensus rating of Hold and a consensus target price of $22.00.

Shares of Four Corners Property Trust (NYSE:FCPT) opened at 19.01 on Tuesday. Four Corners Property Trust has a 52 week low of $14.09 and a 52 week high of $24.44. The stock has a 50 day moving average of $19.67 and a 200 day moving average of $20.29. The firm has a market cap of $1.14 billion and a P/E ratio of 8.78.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.34 earnings per share (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 business earned $30.82 million during the quarter, compared to analyst estimates of $19.53 million. During the same period in the previous year, the firm earned $1.00 EPS. Four Corners Property Trust’s quarterly revenue was up 598.9% compared to the same quarter last year. Equities analysts forecast that Four Corners Property Trust will post $1.32 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in shares of Four Corners Property Trust by 48.8% in the third quarter. Creative Planning now owns 4,925 shares of the company’s stock worth $105,000 after buying an additional 1,615 shares in the last quarter. PineBridge Investments L.P. boosted its stake in shares of Four Corners Property Trust by 3.9% in the second quarter. PineBridge Investments L.P. now owns 6,835 shares of the company’s stock worth $141,000 after buying an additional 255 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Four Corners Property Trust by 33.1% in the second quarter. Teacher Retirement System of Texas now owns 7,952 shares of the company’s stock worth $164,000 after buying an additional 1,978 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Four Corners Property Trust by 1.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,760 shares of the company’s stock worth $180,000 after buying an additional 150 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Four Corners Property Trust by 470.8% in the second quarter. Macquarie Group Ltd. now owns 9,093 shares of the company’s stock worth $187,000 after buying an additional 7,500 shares in the last quarter. 90.55% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Company Profile

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).

Related posts

Leave a Comment