Wells Fargo & Company MN raised its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 16.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.30% of Four Corners Property Trust worth $4,608,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at $106,000. 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 buying an additional 97 shares during the period. Quantbot Technologies LP purchased a new stake in Four Corners Property Trust during the 3rd quarter valued at $199,000. Schroder Investment Management Group purchased a new stake in Four Corners Property Trust during the 3rd quarter valued at $201,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Four Corners Property Trust during the 2nd quarter valued at $206,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Four Corners Property Trust, Inc. (FCPT) opened at $23.68 on Friday. Four Corners Property Trust, Inc. has a 12-month low of $20.64 and a 12-month high of $26.96. The company has a market cap of $1,453.41, a PE ratio of 16.79 and a beta of 0.13.
Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). Four Corners Property Trust had a return on equity of 17.37% and a net margin of 65.46%. analysts predict that Four Corners Property Trust, Inc. will post 1.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.65%. This is a positive change 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 presently 78.01%.
Several equities research analysts have weighed in on the stock. BidaskClub cut shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Zacks Investment Research cut shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Four Corners Property Trust in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price 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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