Four Corners Property Trust (FCPT) Upgraded to B at TheStreet

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Four Corners Property Trust (NYSE:FCPT) was upgraded by TheStreet from a “c” rating to a “b” rating in a note issued to investors on Monday.

Several other brokerages have also recently commented on FCPT. Zacks Investment Research cut shares of Four Corners Property Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 25th. LADENBURG THALM/SH SH cut shares of Four Corners Property Trust from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research note on Tuesday, July 31st.

NYSE FCPT opened at $26.93 on Monday. Four Corners Property Trust has a 12-month low of $21.28 and a 12-month high of $27.48. The company has a debt-to-equity ratio of 0.90, a quick ratio of 6.59 and a current ratio of 6.59. The company has a market capitalization of $1.64 billion, a PE ratio of 19.80 and a beta of 0.05.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.08). Four Corners Property Trust had a net margin of 57.05% and a return on equity of 14.09%. The business had revenue of $36.12 million during the quarter, compared to the consensus estimate of $36.38 million. During the same period last year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts predict that Four Corners Property Trust will post 1.41 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System grew its stake in Four Corners Property Trust by 8.5% during the third quarter. Arizona State Retirement System now owns 96,960 shares of the financial services provider’s stock valued at $2,491,000 after acquiring an additional 7,619 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in Four Corners Property Trust by 67.8% during the third quarter. Cullen Frost Bankers Inc. now owns 25,834 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 10,435 shares in the last quarter. Securian Asset Management Inc purchased a new position in Four Corners Property Trust during the third quarter valued at approximately $7,738,000. First Trust Advisors LP grew its stake in Four Corners Property Trust by 29.0% during the third quarter. First Trust Advisors LP now owns 12,431 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 2,797 shares in the last quarter. Finally, First Quadrant L P CA purchased a new position in Four Corners Property Trust during the third quarter valued at approximately $814,000. 88.45% of the stock is owned by institutional investors.

Four Corners Property Trust Company Profile

FCPT 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 for use in the restaurant and related food services industry.

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