Four Corners Property Trust, Inc. (FCPT) Position Increased by Adelante Capital Management LLC

Adelante Capital Management LLC increased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,686 shares of the financial services provider’s stock after purchasing an additional 26,977 shares during the quarter. Adelante Capital Management LLC owned approximately 0.83% of Four Corners Property Trust worth $12,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pinebridge Investments L.P. boosted its position in Four Corners Property Trust by 1.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,908 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 97 shares in the last quarter. Arizona State Retirement System boosted its position in Four Corners Property Trust by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 31,338 shares of the financial services provider’s stock valued at $787,000 after acquiring an additional 100 shares in the last quarter. Suntrust Banks Inc. boosted its position in Four Corners Property Trust by 1.1% during the 2nd quarter. Suntrust Banks Inc. now owns 26,945 shares of the financial services provider’s stock valued at $675,000 after acquiring an additional 295 shares in the last quarter. Texas Permanent School Fund boosted its position in Four Corners Property Trust by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 43,824 shares of the financial services provider’s stock valued at $1,100,000 after acquiring an additional 470 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in Four Corners Property Trust by 3.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,136 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 480 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors.

Shares of Four Corners Property Trust, Inc. (NYSE FCPT) traded down $0.38 on Tuesday, hitting $25.65. The stock had a trading volume of 188,200 shares, compared to its average volume of 329,712. Four Corners Property Trust, Inc. has a 12-month low of $18.92 and a 12-month high of $26.75. The company has a market cap of $1,592.93, a PE ratio of 19.42 and a beta of 0.12.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a $0.275 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.24. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Thursday, December 28th. Four Corners Property Trust’s payout ratio is currently 68.79%.

FCPT has been the topic of several research reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Four Corners Property Trust in a research report on Friday, November 3rd. BidaskClub cut Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, October 17th. Raymond James Financial raised Four Corners Property Trust from a “market perform” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, August 15th. Finally, UBS raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $27.25.

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Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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