Four Corners Property Trust (NYSE:FCPT) Downgraded by Berenberg Bank to “Hold”

Berenberg Bank cut shares of Four Corners Property Trust (NYSE:FCPTGet Rating) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has $30.00 target price on the financial services provider’s stock, down from their prior target price of $31.00. The analysts noted that the move was a valuation call.

Several other equities research analysts have also recently weighed in on the stock. Janney Montgomery Scott cut shares of Four Corners Property Trust from a buy rating to a neutral rating and set a $30.00 target price for the company. in a research note on Monday, August 1st. Raymond James raised their price target on shares of Four Corners Property Trust from $32.00 to $33.00 and gave the stock an outperform rating in a research note on Friday, July 8th. Finally, Credit Suisse Group started coverage on shares of Four Corners Property Trust in a research note on Wednesday, June 22nd. They set a neutral rating and a $26.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of Hold and an average price target of $29.75.

Four Corners Property Trust Stock Up 0.5 %

FCPT stock opened at $28.60 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.85 and a quick ratio of 2.85. Four Corners Property Trust has a 52-week low of $24.24 and a 52-week high of $30.13. The company has a 50-day moving average of $27.31 and a two-hundred day moving average of $27.10. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 23.64 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPTGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.12). Four Corners Property Trust had a net margin of 44.68% and a return on equity of 10.01%. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, equities research analysts anticipate that Four Corners Property Trust will post 1.59 EPS for the current year.

Four Corners Property Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Wednesday, June 29th. Four Corners Property Trust’s dividend payout ratio is currently 109.92%.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Four Corners Property Trust by 1.8% in the 1st quarter. BlackRock Inc. now owns 15,230,359 shares of the financial services provider’s stock valued at $411,828,000 after acquiring an additional 267,083 shares in the last quarter. Vanguard Group Inc. increased its stake in Four Corners Property Trust by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 9,456,757 shares of the financial services provider’s stock valued at $255,711,000 after buying an additional 312,407 shares during the last quarter. Victory Capital Management Inc. increased its stake in Four Corners Property Trust by 15.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,712,173 shares of the financial services provider’s stock valued at $125,296,000 after buying an additional 637,518 shares during the last quarter. State Street Corp increased its stake in Four Corners Property Trust by 5.4% in the 1st quarter. State Street Corp now owns 4,411,352 shares of the financial services provider’s stock valued at $120,723,000 after buying an additional 225,087 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Four Corners Property Trust by 3.6% in the 1st quarter. Invesco Ltd. now owns 2,564,004 shares of the financial services provider’s stock valued at $69,331,000 after buying an additional 88,610 shares during the last quarter. 92.46% of the stock is owned by institutional investors.

About Four Corners Property Trust

(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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