Inspire Investing LLC Increases Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Inspire Investing LLC boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,898 shares of the financial services provider’s stock after buying an additional 3,179 shares during the period. Inspire Investing LLC’s holdings in Four Corners Property Trust were worth $513,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its stake in Four Corners Property Trust by 30.6% during the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after acquiring an additional 3,268,064 shares in the last quarter. Earnest Partners LLC grew its stake 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 valued at $78,667,000 after acquiring an additional 759,749 shares in the last quarter. Geode Capital Management LLC grew its stake in Four Corners Property Trust by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock valued at $69,101,000 after acquiring an additional 27,552 shares in the last quarter. Principal Financial Group Inc. grew its stake in 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 acquiring an additional 102,662 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Four Corners Property Trust by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock valued at $44,495,000 after acquiring an additional 63,856 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCPT has been the subject of several research analyst reports. Barclays initiated coverage on shares of Four Corners Property Trust in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $31.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. UBS Group initiated coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.60.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $27.64 on Friday. The firm has a 50-day moving average price of $28.05 and a 200-day moving average price of $28.09. The firm has a market capitalization of $2.67 billion, a PE ratio of 25.84 and a beta of 1.13. 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, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.79 million during the quarter, compared to the consensus estimate 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 was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. As a group, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.62 EPS for the current year.

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

About Four Corners Property Trust

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.