Four Corners Property Trust (NYSE:FCPT) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Four Corners Property Trust's rating was downgraded from "hold" to "sell" by Wall Street Zen, reflecting a shift in analyst sentiment.
• While UBS Group increased its price target to $31.00 with a "buy" rating, Barclays lowered its target to $29.00 with an "equal weight" rating, highlighting diverging analyst opinions.
• Four Corners Property Trust reported $0.44 earnings per share for the last quarter, exceeding estimates and showing a 9.6% year-over-year revenue increase.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other analysts also recently issued reports on FCPT. UBS Group increased their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Barclays lowered their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 20th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Four Corners Property Trust in a research note on Saturday, September 27th. Wells Fargo & Company reiterated an "equal weight" rating and set a $27.00 target price (down from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Finally, Raymond James Financial reduced their target price on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $29.00.

Four Corners Property Trust Stock Down 0.3%

Shares of NYSE:FCPT opened at $23.87 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 52-week low of $23.64 and a 52-week high of $30.12. The company has a 50 day moving average of $25.24 and a two-hundred day moving average of $26.59. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 22.10 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The company had revenue of $72.84 million during the quarter, compared to the consensus estimate of $70.27 million. During the same quarter last year, the company earned $0.43 earnings per share. Four Corners Property Trust's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts forecast that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Four Corners Property Trust

In related news, CAO Niccole Stewart sold 3,950 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total transaction of $99,935.00. Following the transaction, the chief accounting officer directly owned 27,502 shares in the company, valued at $695,800.60. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William H. Lenehan acquired 7,850 shares of Four Corners Property Trust stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the purchase, the chief executive officer directly owned 698,426 shares of the company's stock, valued at $17,740,020.40. The trade was a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently added to or reduced their stakes in the company. Inspire Investing LLC lifted its stake in Four Corners Property Trust by 2.2% during the second quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider's stock worth $471,000 after purchasing an additional 383 shares during the last quarter. CWM LLC lifted its stake in Four Corners Property Trust by 15.0% during the first quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock worth $85,000 after purchasing an additional 389 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Four Corners Property Trust by 5.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider's stock worth $238,000 after buying an additional 450 shares during the period. Palisades Investment Partners LLC increased its position in Four Corners Property Trust by 1.5% in the first quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider's stock worth $912,000 after buying an additional 459 shares during the period. Finally, Bank of Montreal Can increased its position in Four Corners Property Trust by 3.1% in the second quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider's stock worth $509,000 after buying an additional 568 shares during the period. 98.66% of the stock is currently owned by institutional investors.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.

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