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

Berenberg Bank lowered 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 Ratings reports. The firm currently has $30.00 price objective on the financial services provider’s stock, down from their previous price objective of $31.00. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also issued reports on FCPT. Janney Montgomery Scott lowered shares of Four Corners Property Trust from a buy rating to a neutral rating and set a $30.00 price objective for the company. in a report on Monday. Credit Suisse Group began coverage on Four Corners Property Trust in a research report on Wednesday, June 22nd. They set a neutral rating and a $26.00 target price for the company. Finally, Raymond James increased their target price on Four Corners Property Trust from $32.00 to $33.00 and gave the company an outperform rating in a research report on Friday, July 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $29.75.

Four Corners Property Trust Price Performance

FCPT opened at $28.53 on Tuesday. The company’s 50-day simple moving average is $27.24 and its two-hundred day simple moving average is $27.09. Four Corners Property Trust has a 52-week low of $24.24 and a 52-week high of $30.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.85 and a current ratio of 2.85. The stock has a market capitalization of $2.32 billion, a P/E ratio of 23.58 and a beta of 0.86.

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

Four Corners Property Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.3325 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.33 annualized dividend and a dividend yield of 4.66%. Four Corners Property Trust’s dividend payout ratio (DPR) is 109.92%.

Institutional Trading of Four Corners Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in FCPT. Van ECK Associates Corp increased its stake in shares of Four Corners Property Trust by 69.5% during the fourth quarter. Van ECK Associates Corp now owns 6,014 shares of the financial services provider’s stock valued at $177,000 after buying an additional 2,466 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Four Corners Property Trust during the fourth quarter valued at $14,264,000. State of New Jersey Common Pension Fund D grew its stake in Four Corners Property Trust by 3.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 99,456 shares of the financial services provider’s stock valued at $2,925,000 after purchasing an additional 3,086 shares during the last quarter. Yousif Capital Management LLC purchased a new position in Four Corners Property Trust in the fourth quarter valued at about $2,065,000. Finally, Jackson Creek Investment Advisors LLC purchased a new position in Four Corners Property Trust in the fourth quarter valued at about $1,079,000. 92.46% 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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