Bank of Montreal Can Has $6.77 Million Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Bank of Montreal Can grew its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 1,867.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,987 shares of the financial services provider’s stock after acquiring an additional 217,350 shares during the quarter. Bank of Montreal Can owned 0.24% of Four Corners Property Trust worth $6,771,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Four Corners Property Trust during the third quarter worth $51,000. Blue Trust Inc. boosted its stake 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 buying an additional 3,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 in the last quarter. GAMMA Investing LLC increased its position in shares of Four Corners Property Trust by 24.0% in the third 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 last quarter. Finally, Cape ANN Savings Bank bought 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.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock opened at $28.94 on Tuesday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 27.05 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, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company’s fifty day moving average is $28.76 and its 200 day moving average is $27.25.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The firm had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Four Corners Property Trust’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. Sell-side analysts forecast 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 announced 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 represents a $1.42 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 128.97%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FCPT. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Raymond James upped 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 research report on Wednesday, August 21st. UBS Group assumed coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Evercore ISI upped 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. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.