Versor Investments LP Invests $387,000 in Four Corners Property Trust, Inc. (NYSE:FCPT)

Versor Investments LP bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,200 shares of the financial services provider’s stock, valued at approximately $387,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its stake in shares of Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after buying an additional 470 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Four Corners Property Trust by 1,469.1% during the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Four Corners Property Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 921 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Four Corners Property Trust by 24.0% during the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Four Corners Property Trust by 491.0% during the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 6,624 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of FCPT stock opened at $27.90 on Friday. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93. The stock has a market cap of $2.70 billion, a P/E ratio of 26.07 and a beta of 1.11. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The company has a 50 day simple moving average of $28.95 and a two-hundred day simple moving average of $26.80.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The business 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 quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. On average, research analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.355 dividend. 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. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.09%. Four Corners Property Trust’s dividend payout ratio is 132.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FCPT. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI boosted their price objective 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. Raymond James upped their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, UBS Group initiated coverage on shares of Four Corners Property Trust in a report on Thursday. They set a “buy” rating and a $33.00 target price for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average price target of $30.50.

About Four Corners Property Trust

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.