Four Corners Property Trust, Inc. (NYSE:FCPT) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.

FCPT has been the topic of several other research reports. UBS AG upgraded shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 15th. Zacks Investment Research lowered shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Four Corners Property Trust in a research report on Thursday, August 3rd. Raymond James Financial, Inc. upgraded shares of Four Corners Property Trust from a “market perform” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, August 15th. Finally, Canaccord Genuity initiated coverage on shares of Four Corners Property Trust in a research report on Tuesday, July 18th. They set a “hold” rating and a $26.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $26.75.

Four Corners Property Trust (FCPT) traded up 0.08% on Friday, hitting $25.43. 191,630 shares of the stock were exchanged. The company has a 50-day moving average price of $25.01 and a 200 day moving average price of $23.82. Four Corners Property Trust has a 1-year low of $16.71 and a 1-year high of $25.94. The company has a market capitalization of $1.56 billion, a PE ratio of 18.77 and a beta of 0.18.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $33.33 million. Four Corners Property Trust had a return on equity of 17.21% and a net margin of 63.74%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS. Analysts anticipate that Four Corners Property Trust will post $1.03 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the stock. Creative Planning boosted its position in Four Corners Property Trust by 3.9% in the first quarter. Creative Planning now owns 6,782 shares of the financial services provider’s stock valued at $155,000 after buying an additional 252 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Four Corners Property Trust by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 24,398 shares of the financial services provider’s stock valued at $557,000 after buying an additional 300 shares in the last quarter. Nationwide Fund Advisors boosted its position in Four Corners Property Trust by 36.2% in the first quarter. Nationwide Fund Advisors now owns 35,687 shares of the financial services provider’s stock valued at $815,000 after buying an additional 9,491 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in Four Corners Property Trust by 33.9% in the first quarter. Glen Harbor Capital Management LLC now owns 5,372 shares of the financial services provider’s stock valued at $123,000 after buying an additional 1,360 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Four Corners Property Trust by 68.0% in the first quarter. Russell Investments Group Ltd. now owns 739,699 shares of the financial services provider’s stock valued at $16,885,000 after buying an additional 299,333 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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