Natixis Advisors LLC Raises Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Natixis Advisors LLC grew its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 37.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,832 shares of the financial services provider’s stock after buying an additional 8,146 shares during the period. Natixis Advisors LLC’s holdings in Four Corners Property Trust were worth $736,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Four Corners Property Trust in the 4th quarter valued at $14,546,000. Earnest Partners LLC increased its stake in shares of Four Corners Property Trust by 15.5% during the first quarter. Earnest Partners LLC now owns 2,429,030 shares of the financial services provider’s stock worth $59,438,000 after acquiring an additional 326,281 shares during the period. William Blair Investment Management LLC raised its holdings in Four Corners Property Trust by 26.7% during the first quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock worth $34,512,000 after purchasing an additional 297,300 shares in the last quarter. Vanguard Group Inc. lifted its position in Four Corners Property Trust by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock valued at $266,127,000 after purchasing an additional 294,240 shares during the period. Finally, Capital International Investors boosted its holdings in Four Corners Property Trust by 14.2% in the 4th quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock valued at $45,739,000 after purchasing an additional 225,327 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $29.77 on Friday. The business has a 50 day moving average price of $27.18 and a 200 day moving average price of $25.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $2.76 billion, a P/E ratio of 27.79 and a beta of 1.10. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $29.86.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FCPT shares. Raymond James increased their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Four Corners Property Trust Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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.