StockNews.com Downgrades Four Corners Property Trust (NYSE:FCPT) to Sell

StockNews.com lowered shares of Four Corners Property Trust (NYSE:FCPT – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

A number of other analysts also recently issued reports on FCPT. Evercore ISI downgraded Four Corners Property Trust from an outperform rating to an inline rating and set a $28.00 target price for the company. in a research note on Monday, November 21st. Raymond James raised their price objective on Four Corners Property Trust from $28.00 to $29.00 and gave the stock an outperform rating in a research report on Monday, January 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $28.33.

Four Corners Property Trust Stock Down 1.2 %

Shares of FCPT opened at $26.59 on Wednesday. Four Corners Property Trust has a 52-week low of $22.67 and a 52-week high of $30.13. The company has a market capitalization of $2.29 billion, a PE ratio of 22.16 and a beta of 0.92. The stock has a fifty day simple moving average of $27.93 and a two-hundred day simple moving average of $26.61. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.87.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, March 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is 113.33%.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Four Corners Property Trust by 2.0% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,919 shares of the financial services provider’s stock valued at $554,000 after acquiring an additional 442 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Four Corners Property Trust by 1.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,012 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 473 shares during the period. Harbor Investment Advisory LLC boosted its holdings in Four Corners Property Trust by 39.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,696 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 478 shares during the period. Texas Permanent School Fund boosted its stake in shares of Four Corners Property Trust by 0.9% in the 3rd quarter. Texas Permanent School Fund now owns 58,589 shares of the financial services provider’s stock valued at $1,417,000 after buying an additional 504 shares during the period. Finally, CWM LLC boosted its stake in shares of Four Corners Property Trust by 84.8% in the 4th quarter. CWM LLC now owns 1,133 shares of the financial services provider’s stock valued at $29,000 after buying an additional 520 shares during the period. 94.71% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Company Profile

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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.