Thrivent Financial for Lutherans Sells 274,450 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Thrivent Financial for Lutherans decreased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 78.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,771 shares of the financial services provider’s stock after selling 274,450 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Four Corners Property Trust were worth $2,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mystic Asset Management Inc. acquired a new stake in Four Corners Property Trust in the 4th quarter valued at $414,000. William Blair Investment Management LLC grew its holdings in shares of Four Corners Property Trust by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider’s stock valued at $37,981,000 after buying an additional 33,450 shares during the last quarter. Signaturefd LLC increased its position in shares of Four Corners Property Trust by 10.4% during the fourth quarter. Signaturefd LLC now owns 6,141 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 579 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Four Corners Property Trust in the 4th quarter worth about $245,000. Finally, Natixis Advisors LLC lifted its position in Four Corners Property Trust by 29.1% in the 4th quarter. Natixis Advisors LLC now owns 40,289 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 9,080 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Up 0.2 %

FCPT stock opened at $28.52 on Friday. The stock has a market cap of $2.85 billion, a P/E ratio of 26.65 and a beta of 1.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $28.11 and its two-hundred day simple moving average is $28.38. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. Analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.355 per share. The ex-dividend date is Monday, March 31st. This represents a $1.42 annualized dividend and a dividend yield of 4.98%. Four Corners Property Trust’s payout ratio is currently 132.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FCPT shares. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Barclays lowered their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

Four Corners Property Trust Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.