Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 29.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 100,708 shares of the financial services provider’s stock after acquiring an additional 22,678 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Four Corners Property Trust worth $2,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FCPT. Smartleaf Asset Management LLC grew its stake in shares of Four Corners Property Trust by 165.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock worth $38,000 after buying an additional 860 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Four Corners Property Trust in the 4th quarter worth approximately $48,000. Truvestments Capital LLC purchased a new stake in Four Corners Property Trust during the 3rd quarter valued at $51,000. Eagle Bay Advisors LLC boosted its stake in Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 425 shares during the last quarter. Finally, KBC Group NV boosted its stake in Four Corners Property Trust by 50.4% during the 4th quarter. KBC Group NV now owns 3,702 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,240 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

FCPT has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Finally, Barclays cut their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average target price of $30.20.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $27.95 on Friday. The business’s fifty day moving average price is $27.85 and its 200-day moving average price is $28.40. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 26.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.355 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.08%. Four Corners Property Trust’s dividend payout ratio is currently 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.