Crossmark Global Holdings Inc. Purchases New Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Crossmark Global Holdings Inc. acquired a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,812 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other institutional investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its position in Four Corners Property Trust by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 527 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after purchasing an additional 102,662 shares during the period. Van ECK Associates Corp raised its position in shares of Four Corners Property Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 15,767 shares of the financial services provider’s stock valued at $462,000 after buying an additional 1,730 shares in the last quarter. abrdn plc boosted its stake in shares of Four Corners Property Trust by 10.5% in the third quarter. abrdn plc now owns 18,139 shares of the financial services provider’s stock valued at $532,000 after buying an additional 1,731 shares during the period. Finally, Boston Trust Walden Corp increased its stake in Four Corners Property Trust by 9.5% during the 3rd quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock worth $39,061,000 after acquiring an additional 115,924 shares during the period. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 1.8 %

Shares of Four Corners Property Trust stock opened at $28.74 on Tuesday. The stock’s 50-day moving average is $28.93 and its 200 day moving average is $26.87. Four Corners Property Trust, Inc. has a one year low of $22.38 and a one year high of $30.93. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 26.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly 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). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The company had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders of record on Tuesday, December 31st will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.94%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on FCPT shares. UBS Group began coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company. Wells Fargo & Company reiterated 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 report on Tuesday, October 1st. Raymond James boosted 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. Evercore ISI lifted their price target on 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 reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company 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.