Wealth Enhancement Advisory Services LLC Buys Shares of 8,305 Four Corners Property Trust, Inc. (NYSE:FCPT)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,305 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Covestor Ltd raised its position in 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 buying an additional 470 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 3,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 921 shares during the period. GAMMA Investing LLC raised its stake in 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 acquiring an additional 814 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Four Corners Property Trust by 491.0% during the 1st 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 last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Price Performance

FCPT stock opened at $27.97 on Tuesday. The company’s 50-day moving average price is $29.00 and its two-hundred day moving average price is $26.75. Four Corners Property Trust, Inc. has a 12 month low of $21.60 and a 12 month high of $30.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.71 billion, a P/E ratio of 26.14 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. During the same period in the previous year, the company earned $0.42 EPS. Four Corners Property Trust’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.345 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.93%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Analysts Set New Price Targets

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

About Four Corners Property Trust

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.