Four Corners Property Trust (NYSE:FCPT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Four Corners Property Trust (NYSE:FCPT) from a hold rating to a sell rating in a research note published on Saturday morning.

Other research analysts have also recently issued research reports about the company. Barclays cut their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 20th. Raymond James Financial lowered their target price 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. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 target price (down from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Four Corners Property Trust in a research note on Saturday, September 27th. Finally, UBS Group boosted their target price 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. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

Four Corners Property Trust Stock Down 0.3%

FCPT stock opened at $23.87 on Friday. The stock’s fifty day simple moving average is $25.24 and its two-hundred day simple moving average is $26.57. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 1-year low of $23.64 and a 1-year high of $30.12. The stock has a market cap of $2.49 billion, a P/E ratio of 22.10 and a beta of 0.87.

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

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Tuesday, September 30th. Four Corners Property Trust’s payout ratio is presently 131.48%.

Insiders Place Their Bets

In related news, CEO William H. Lenehan acquired 7,850 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were 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 owned 698,426 shares in the company, valued at $17,740,020.40. This trade represents a 1.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Niccole Stewart sold 3,950 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the sale, the chief accounting officer owned 27,502 shares in the company, valued at approximately $695,800.60. The trade was a 12.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Four Corners Property Trust by 9.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 796 shares during the period. KBC Group NV grew its position in Four Corners Property Trust by 40.8% during the first quarter. KBC Group NV now owns 5,212 shares of the financial services provider’s stock worth $150,000 after buying an additional 1,510 shares in the last quarter. GAMMA Investing LLC grew its position in Four Corners Property Trust by 23.6% during the first quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider’s stock worth $185,000 after buying an additional 1,231 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Four Corners Property Trust by 9.5% during the first quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider’s stock worth $7,898,000 after buying an additional 23,884 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. purchased a new position in Four Corners Property Trust during the first quarter worth about $437,000. 98.66% of the stock is currently owned by institutional investors.

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.