Versor Investments LP Acquires Shares of 13,200 Four Corners Property Trust, Inc. (NYSE:FCPT)

Versor Investments LP acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,200 shares of the financial services provider’s stock, valued at approximately $387,000.

A number of other hedge funds have also recently modified their holdings of FCPT. Earnest Partners LLC increased its position in shares of Four Corners Property Trust by 31.3% in the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after acquiring an additional 759,749 shares during the period. Boston Trust Walden Corp increased its position in shares of Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after acquiring an additional 191,259 shares during the period. Vanguard Group Inc. increased its position in shares of Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after acquiring an additional 116,453 shares during the period. Principal Financial Group Inc. increased its position 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 valued at $51,996,000 after buying an additional 102,662 shares during the period. Finally, Westwood Holdings Group Inc. increased its position in shares of Four Corners Property Trust by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock valued at $64,089,000 after buying an additional 93,552 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FCPT. UBS Group began coverage on shares of Four Corners Property Trust in a research report on Thursday. They set a “buy” rating and a $33.00 price target on the stock. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Evercore ISI boosted their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Raymond James boosted their price target 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. Finally, 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $27.90 on Friday. Four Corners Property Trust, Inc. has a one year low of $22.38 and a one year high of $30.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The company’s 50-day simple moving average is $28.95 and its 200 day simple moving average is $26.80. The firm has a market capitalization of $2.70 billion, a P/E ratio of 26.07 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate 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 business had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. During the same period in the previous year, the firm earned $0.42 EPS. The company’s revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast 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 announced 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. This represents a $1.42 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

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.