Connor Clark & Lunn Investment Management Ltd. Buys 108,345 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 211.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,630 shares of the financial services provider’s stock after purchasing an additional 108,345 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Four Corners Property Trust were worth $4,679,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 921 shares in the last quarter. Blue Trust Inc. increased its holdings in Four Corners Property Trust by 1,469.1% during the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after buying an additional 3,467 shares during the last quarter. GAMMA Investing LLC raised its position in Four Corners Property Trust by 24.0% during the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 814 shares in the last quarter. Cape ANN Savings Bank acquired a new stake in Four Corners Property Trust in the third quarter valued at $200,000. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of Four Corners Property Trust in the 3rd quarter valued at about $208,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $29.25 on Friday. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 27.34 and a beta of 1.11. The stock’s 50 day moving average is $28.86 and its 200-day moving average is $27.01. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. 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 prior year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 4.85%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 128.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI raised their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Raymond James raised their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, UBS Group assumed coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Four Corners Property Trust Company 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.