UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 539.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 687,318 shares of the financial services provider’s stock after acquiring an additional 579,849 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Four Corners Property Trust were worth $20,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Four Corners Property Trust during the third quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $106,000 after buying an additional 921 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Four Corners Property Trust by 1,469.1% in the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 3,467 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 last quarter. Finally, Cape ANN Savings Bank purchased a new position in Four Corners Property Trust in the third quarter worth about $200,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Price Performance

FCPT opened at $29.27 on Friday. The business has a fifty day moving average of $28.73 and a 200 day moving average of $27.30. The stock has a market cap of $2.83 billion, a P/E ratio of 27.36 and a beta of 1.12. 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 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). The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Tuesday, December 31st will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 4.85%. This is a boost 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 payout ratio is 128.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCPT. Raymond James upped their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company restated an “overweight” rating and set a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. UBS Group assumed coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective for the company. 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 research note on Wednesday, August 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.