Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.1% in the second quarter, Holdings Channel reports. The firm owned 93,400 shares of the financial services provider’s stock after acquiring an additional 5,400 shares during the period. Renaissance Technologies LLC’s holdings in Four Corners Property Trust were worth $2,304,000 as of its most recent SEC filing.

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

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $29.31 on Wednesday. Four Corners Property Trust, Inc. has a 12-month low of $20.51 and a 12-month high of $30.93. The stock has a market capitalization of $2.70 billion, a P/E ratio of 27.39 and a beta of 1.10. The firm’s 50 day moving average is $28.23 and its 200-day moving average is $25.74. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last posted 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 company had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. Four Corners Property Trust’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.345 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.71%. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FCPT shares. Raymond James lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Evercore ISI lifted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Four Corners Property Trust has a consensus rating of “Hold” and a consensus price target of $28.75.

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.