Four Corners Property Trust (NYSE:FCPT) Downgraded to Inline at Evercore ISI

Evercore ISI downgraded shares of Four Corners Property Trust (NYSE:FCPTGet Rating) from an outperform rating to an inline rating in a research report released on Monday morning, MarketBeat Ratings reports. The firm currently has $28.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Janney Montgomery Scott cut shares of Four Corners Property Trust to a neutral rating in a report on Tuesday, August 9th. StockNews.com assumed coverage on shares of Four Corners Property Trust in a report on Wednesday, October 12th. They set a hold rating on the stock. Robert W. Baird cut their price target on shares of Four Corners Property Trust from $30.00 to $27.00 and set an outperform rating on the stock in a report on Friday, October 7th. Raymond James cut their price target on shares of Four Corners Property Trust from $30.00 to $28.00 and set an outperform rating on the stock in a report on Tuesday, October 4th. Finally, Berenberg Bank cut shares of Four Corners Property Trust from a buy rating to a hold rating and dropped their target price for the stock from $31.00 to $30.00 in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $28.17.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $27.18 on Monday. The firm’s 50-day simple moving average is $25.27 and its two-hundred day simple moving average is $26.59. Four Corners Property Trust has a fifty-two week low of $22.67 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market cap of $2.28 billion, a PE ratio of 22.10 and a beta of 0.88.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 5.00%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 108.13%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its position in Four Corners Property Trust by 1.8% in the first quarter. Daiwa Securities Group Inc. now owns 23,073 shares of the financial services provider’s stock worth $624,000 after acquiring an additional 398 shares during the period. Arizona State Retirement System raised its position in Four Corners Property Trust by 2.0% in the first quarter. Arizona State Retirement System now owns 20,910 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 400 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in Four Corners Property Trust by 2.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,919 shares of the financial services provider’s stock worth $554,000 after acquiring an additional 442 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Four Corners Property Trust by 1.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,012 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 473 shares during the period. Finally, Texas Permanent School Fund raised its position in Four Corners Property Trust by 0.9% in the third quarter. Texas Permanent School Fund now owns 58,589 shares of the financial services provider’s stock worth $1,417,000 after acquiring an additional 504 shares during the period. 94.65% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Four Corners Property Trust (NYSE:FCPT)

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