Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,938 shares of the financial services provider’s stock after selling 1,182 shares during the period. Mutual of America Capital Management LLC’s holdings in Four Corners Property Trust were worth $409,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FCPT. Boston Trust Walden Corp grew its position in Four Corners Property Trust by 18.7% during the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after buying an additional 191,259 shares during the period. Creative Planning grew its position in shares of Four Corners Property Trust by 13.3% during the 3rd quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock valued at $825,000 after acquiring an additional 3,315 shares during the period. Vanguard Group Inc. increased its stake in shares of Four Corners Property Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after purchasing an additional 116,453 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Four Corners Property Trust by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after purchasing an additional 102,662 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Four Corners Property Trust during the third quarter worth approximately $243,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $29.54 on Thursday. Four Corners Property Trust, Inc. has a 52 week low of $22.38 and a 52 week high of $30.93. The stock’s fifty day moving average is $28.81 and its two-hundred day moving average is $27.12. The company has a market capitalization of $2.86 billion, a P/E ratio of 27.61 and a beta of 1.11. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCPT. Wells Fargo & Company restated an “overweight” rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Raymond James boosted their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Evercore ISI increased their price objective on shares of 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. UBS Group initiated coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.50.

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.