Four Corners Property Trust, Inc. (NYSE:FCPT) Stake Cut by Quantbot Technologies LP

Quantbot Technologies LP lessened its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 70.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,485 shares of the financial services provider’s stock after selling 8,412 shares during the quarter. Quantbot Technologies LP’s holdings in Four Corners Property Trust were worth $102,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Four Corners Property Trust by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,801 shares of the financial services provider’s stock valued at $1,513,000 after purchasing an additional 3,268 shares in the last quarter. Blue Trust Inc. grew its holdings 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 valued at $91,000 after acquiring an additional 3,467 shares in the last quarter. Boston Trust Walden Corp increased its stake in shares of Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock worth $30,017,000 after acquiring an additional 191,259 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Four Corners Property Trust by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock worth $1,142,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Four Corners Property Trust by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock valued at $24,332,000 after purchasing an additional 22,792 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI raised their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Raymond James raised their price objective on shares of 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. UBS Group initiated 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 target price for the company. 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 research note on Tuesday, October 1st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Trading Down 0.3 %

Shares of FCPT stock opened at $29.17 on Friday. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93. The company has a market cap of $2.82 billion, a PE ratio of 27.26 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. The business’s 50 day moving average is $28.73 and its two-hundred day moving average is $27.33.

Four Corners Property Trust (NYSE:FCPT) last posted 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 firm had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Equities analysts predict 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 disclosed 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 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is currently 128.97%.

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.