Published On: Tue, Sep 6th, 2016

Four Corners Property Trust Inc. (FCPT) Rating Increased to Hold at Zacks Investment Research

Four Corners Property Trust Inc. (NYSE:FCPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Four Corners Property Trust (NYSE:FCPT) traded up 2.134% during mid-day trading on Tuesday, reaching $21.295. 318,146 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $21.17 and a 200-day moving average of $19.33. Four Corners Property Trust has a 12 month low of $14.09 and a 12 month high of $24.44. The firm has a market cap of $1.28 billion and a price-to-earnings ratio of 11.138.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/06/four-corners-property-trust-inc-fcpt-rating-increased-to-hold-at-zacks-investment-research-2/

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. The business had revenue of $30.90 million for the quarter, compared to analysts’ expectations of $4.62 million. The company’s revenue for the quarter was up 569.0% on a year-over-year basis. Analysts anticipate that Four Corners Property Trust will post $1.31 earnings per share for the current year.
Other institutional investors recently modified their holdings of the company. Laffer Investments increased its position in shares of Four Corners Property Trust by 50.0% in the first quarter. Laffer Investments now owns 12,251 shares of the company’s stock valued at $220,000 after buying an additional 4,083 shares during the last quarter. Strs Ohio increased its position in shares of Four Corners Property Trust by 1,882.2% in the second quarter. Strs Ohio now owns 20,100 shares of the company’s stock valued at $413,000 after buying an additional 19,086 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Four Corners Property Trust by 1.4% in the second quarter. Capstone Asset Management Co. now owns 21,967 shares of the company’s stock valued at $452,000 after buying an additional 305 shares during the last quarter. Babson Capital Management LLC increased its position in shares of Four Corners Property Trust by 36.7% in the first quarter. Babson Capital Management LLC now owns 22,182 shares of the company’s stock valued at $398,000 after buying an additional 5,950 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Four Corners Property Trust by 43.9% in the first quarter. Arizona State Retirement System now owns 27,638 shares of the company’s stock valued at $496,000 after buying an additional 8,438 shares during the last quarter.
Several other analysts have also issued reports on FCPT. JMP Securities lowered shares of Four Corners Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, August 22nd. Robert W. Baird lowered shares of Four Corners Property Trust from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $21.00 in a research report on Tuesday, July 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $22.33.
Four Corners Property Trust, Inc is a self-administered company, which is engaged in the ownership, acquisition and leasing of restaurant properties. The Company’s business is conducted through its subsidiaries, Four Corners Operating Partnership, LP (Four Corners OP) and Four Corners GP, LLC (Four Corners GP).
Get a free copy of the Zacks research report on Four Corners Property Trust (FCPT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Four Corners Property Trust Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Four Corners Property Trust Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>