Cerity Partners LLC Raises Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Cerity Partners LLC lifted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 19.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,655 shares of the financial services provider’s stock after acquiring an additional 2,689 shares during the period. Cerity Partners LLC’s holdings in Four Corners Property Trust were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FCPT. Earnest Partners LLC increased its position in Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after purchasing an additional 759,749 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Four Corners Property Trust by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after buying an additional 102,662 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Four Corners Property Trust by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock worth $44,495,000 after buying an additional 63,856 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Four Corners Property Trust by 9.5% in the third quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock valued at $39,061,000 after acquiring an additional 115,924 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Four Corners Property Trust by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,324,966 shares of the financial services provider’s stock valued at $32,687,000 after acquiring an additional 51,140 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.3 %

Shares of NYSE FCPT 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 stock has a market cap of $2.82 billion, a P/E ratio of 27.26 and a beta of 1.12. 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 business’s fifty day simple moving average is $28.73 and its 200-day simple moving average is $27.35.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Four Corners Property Trust’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. As a group, equities analysts predict that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 represents a $1.42 dividend on an annualized basis and a yield of 4.87%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is currently 128.97%.

Wall Street Analysts Forecast Growth

FCPT has been the topic of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. 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 report on Wednesday, August 21st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. UBS Group began coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Evercore ISI increased their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

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.