HighTower Advisors LLC Purchases 750 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

HighTower Advisors LLC boosted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,288 shares of the financial services provider’s stock after acquiring an additional 750 shares during the quarter. HighTower Advisors LLC’s holdings in Four Corners Property Trust were worth $442,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FCPT. Arizona State Retirement System raised its holdings in shares of Four Corners Property Trust by 1.5% during the 4th quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 406 shares in the last quarter. Eagle Bay Advisors LLC increased its position in Four Corners Property Trust by 25.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $58,000 after buying an additional 425 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Four Corners Property Trust by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider’s stock valued at $1,226,000 after buying an additional 469 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Four Corners Property Trust by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 36,611 shares of the financial services provider’s stock valued at $994,000 after buying an additional 600 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Four Corners Property Trust by 5.6% in the third quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock worth $348,000 after buying an additional 635 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FCPT. Barclays lowered their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company increased their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three 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.com, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $28.52 on Monday. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 26.65 and a beta of 1.16. The business has a 50 day moving average price of $28.11 and a 200 day moving average price of $28.37. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month 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 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

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

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.