Geode Capital Management LLC Purchases 27,552 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Geode Capital Management LLC increased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,357,175 shares of the financial services provider’s stock after purchasing an additional 27,552 shares during the period. Geode Capital Management LLC owned approximately 2.44% of Four Corners Property Trust worth $69,101,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Verdence Capital Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 527 shares during the period. MML Investors Services LLC increased its position in Four Corners Property Trust by 5.6% during the third quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 635 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Four Corners Property Trust by 24.0% in the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 814 shares during the period. Arizona State Retirement System lifted its holdings in shares of Four Corners Property Trust by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 921 shares during the period. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 1.6 %

Shares of NYSE FCPT opened at $27.16 on Friday. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $28.62 and a two-hundred day simple moving average of $27.63. The firm has a market cap of $2.63 billion, a PE ratio of 25.38 and a beta of 1.12.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data 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). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.23%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Analyst Ratings Changes

FCPT has been the subject of several analyst reports. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (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 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. UBS Group began coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 target price for the company. Finally, Barclays began coverage on shares of Four Corners Property Trust in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.60.

Four Corners Property Trust Company 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.