Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,881 shares of the financial services provider’s stock after selling 704 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Four Corners Property Trust worth $2,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Four Corners Property Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after buying an additional 116,453 shares during the last quarter. Earnest Partners LLC grew its stake in Four Corners Property Trust by 31.3% during the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after buying an additional 759,749 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Four Corners Property Trust by 3.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after buying an additional 93,552 shares during the last quarter. Principal Financial Group Inc. grew its stake in 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. Finally, Boston Trust Walden Corp grew 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 buying an additional 115,924 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 1.8 %

Shares of FCPT stock opened at $28.74 on Tuesday. The business’s 50 day moving average is $28.93 and its two-hundred day moving average is $26.87. 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 market capitalization of $2.78 billion, a P/E ratio of 26.86 and a beta of 1.11. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38.

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 the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

Wall Street Analysts Forecast Growth

FCPT has been the topic of a number of research reports. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Raymond James raised their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Evercore ISI lifted their target price 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, 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 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.