Natixis Advisors LLC Acquires 1,377 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Natixis Advisors LLC grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 31,209 shares of the financial services provider’s stock after acquiring an additional 1,377 shares during the period. Natixis Advisors LLC’s holdings in Four Corners Property Trust were worth $915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC bought a new stake in Four Corners Property Trust during the third quarter valued at $280,000. Aptus Capital Advisors LLC raised its holdings in shares of Four Corners Property Trust by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 99,841 shares of the financial services provider’s stock valued at $2,926,000 after acquiring an additional 13,506 shares in the last quarter. Versor Investments LP bought a new stake in shares of Four Corners Property Trust during the 3rd quarter valued at about $387,000. Meritage Portfolio Management grew its holdings in shares of Four Corners Property Trust by 9.4% during the third quarter. Meritage Portfolio Management now owns 15,373 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 1,318 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Four Corners Property Trust during the third quarter worth about $229,000. 98.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FCPT has been the topic of several research reports. UBS Group began coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective on the stock. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI increased their target price 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. Wells Fargo & Company reissued 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, Raymond James raised their price objective 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. Two investment 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Four Corners Property Trust Stock Up 0.4 %

Shares of NYSE FCPT opened at $29.54 on Thursday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 27.50 and a beta of 1.11. The firm’s fifty day moving average is $28.81 and its 200 day moving average is $27.12. 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, Inc. has a 52 week low of $22.38 and a 52 week high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results 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). The business had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. Four Corners Property Trust’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. On average, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.355 per share. 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. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.81%. Four Corners Property Trust’s payout ratio is presently 132.71%.

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.