Wells Fargo & Company MN Buys 25,800 Shares of Four Corners Property Trust, Inc. (FCPT)

Wells Fargo & Company MN boosted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 16.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,931 shares of the financial services provider’s stock after buying an additional 25,800 shares during the period. Wells Fargo & Company MN owned approximately 0.30% of Four Corners Property Trust worth $4,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Comerica Bank boosted its stake in Four Corners Property Trust by 11.1% during the 2nd quarter. Comerica Bank now owns 63,816 shares of the financial services provider’s stock valued at $1,607,000 after purchasing an additional 6,357 shares during the period. State Street Corp boosted its stake in Four Corners Property Trust by 6.7% during the 2nd quarter. State Street Corp now owns 1,745,481 shares of the financial services provider’s stock valued at $43,831,000 after purchasing an additional 109,180 shares during the period. Goldman Sachs Group Inc. boosted its stake in Four Corners Property Trust by 1.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 322,043 shares of the financial services provider’s stock valued at $8,086,000 after purchasing an additional 4,085 shares during the period. New York State Teachers Retirement System boosted its stake in Four Corners Property Trust by 4.3% during the 3rd quarter. New York State Teachers Retirement System now owns 218,105 shares of the financial services provider’s stock valued at $5,435,000 after purchasing an additional 9,000 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Four Corners Property Trust by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 474,151 shares of the financial services provider’s stock valued at $11,816,000 after purchasing an additional 6,137 shares during the period. 86.39% of the stock is currently owned by institutional investors.

FCPT has been the subject of a number of research reports. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $28.00 price objective (up previously from $27.00) on shares of Four Corners Property Trust in a research report on Friday, September 22nd. Zacks Investment Research upgraded Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, October 17th. Finally, BidaskClub upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Four Corners Property Trust currently has an average rating of “Buy” and an average price target of $27.25.

Four Corners Property Trust, Inc. (NYSE:FCPT) opened at $24.10 on Friday. Four Corners Property Trust, Inc. has a 52-week low of $20.40 and a 52-week high of $26.96. The company has a market capitalization of $1,490.74, a P/E ratio of 18.18 and a beta of 0.13.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.56%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, December 28th. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 78.01%.

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Four Corners Property Trust 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.

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

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