Four Corners Property Trust (NYSE:FCPT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Four Corners Property Trust (NYSE:FCPTGet Rating) from a sell rating to a hold rating in a research note released on Friday, Zacks.com reports.

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, StockNews.com began coverage on shares of Four Corners Property Trust in a research note on Thursday, March 31st. They issued a hold rating for the company.

FCPT stock traded up $0.58 during trading on Friday, hitting $26.51. 600,555 shares of the stock traded hands, compared to its average volume of 647,352. Four Corners Property Trust has a one year low of $25.10 and a one year high of $30.13. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 23.67 and a beta of 0.88. The company has a 50 day simple moving average of $27.38 and a 200 day simple moving average of $27.61. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.99.

Four Corners Property Trust (NYSE:FCPTGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. Four Corners Property Trust had a net margin of 42.15% and a return on equity of 9.52%. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, analysts predict that Four Corners Property Trust will post 1.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were paid a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Wednesday, March 30th. Four Corners Property Trust’s dividend payout ratio is presently 118.75%.

In other Four Corners Property Trust news, Director John S. Moody purchased 7,430 shares of the stock in a transaction dated Monday, March 7th. The stock was bought at an average price of $26.87 per share, for a total transaction of $199,644.10. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William H. Lenehan purchased 7,650 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were acquired at an average price of $26.18 per share, with a total value of $200,277.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 16,080 shares of company stock valued at $426,751. Insiders own 0.71% of the company’s stock.

Large investors have recently modified their holdings of the company. Neuberger Berman Group LLC grew its position in shares of Four Corners Property Trust by 6.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 922,413 shares of the financial services provider’s stock worth $24,775,000 after buying an additional 56,899 shares during the period. Dimensional Fund Advisors LP grew its holdings in Four Corners Property Trust by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,107,395 shares of the financial services provider’s stock valued at $29,746,000 after purchasing an additional 10,610 shares during the period. Tudor Investment Corp Et Al acquired a new position in Four Corners Property Trust during the third quarter valued at approximately $1,222,000. Macquarie Group Ltd. grew its holdings in Four Corners Property Trust by 1.6% during the third quarter. Macquarie Group Ltd. now owns 164,287 shares of the financial services provider’s stock valued at $4,411,000 after purchasing an additional 2,519 shares during the period. Finally, AlphaCrest Capital Management LLC acquired a new position in Four Corners Property Trust during the third quarter valued at approximately $494,000. Institutional investors own 92.46% of the company’s stock.

Four Corners Property Trust Company Profile (Get Rating)

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

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