Blue Trust Inc. Increases Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Blue Trust Inc. lifted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 283.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,190 shares of the financial services provider’s stock after buying an additional 10,487 shares during the period. Blue Trust Inc.’s holdings in Four Corners Property Trust were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Larson Financial Group LLC raised its position in Four Corners Property Trust by 25,000.0% in the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Covestor Ltd increased its holdings in shares of Four Corners Property Trust by 23.2% in the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Four Corners Property Trust by 491.0% in the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 6,624 shares during the period. Finally, Cape ANN Savings Bank purchased a new stake in Four Corners Property Trust during the third quarter worth about $200,000. 98.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Evercore ISI boosted their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Raymond James boosted their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $29.16 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. The business’s fifty day moving average price is $28.84 and its two-hundred day moving average price is $26.28. The stock has a market cap of $2.68 billion, a PE ratio of 27.25 and a beta of 1.10. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $30.93.

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

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.345 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a yield of 4.73%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 128.97%.

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.