Everence Capital Management Inc. Takes Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Everence Capital Management Inc. acquired a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,360 shares of the financial services provider’s stock, valued at approximately $212,000.

Other hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its holdings in Four Corners Property Trust by 1,120.0% in the 1st quarter. Belpointe Asset Management LLC now owns 915 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 840 shares during the last quarter. Fortis Capital Advisors LLC raised its holdings in Four Corners Property Trust by 18,200.0% in the 1st quarter. Fortis Capital Advisors LLC now owns 915 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 910 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Four Corners Property Trust in the 2nd quarter worth approximately $33,000. Lazard Asset Management LLC purchased a new position in Four Corners Property Trust in the 3rd quarter worth approximately $52,000. Finally, Quantbot Technologies LP raised its holdings in Four Corners Property Trust by 72.4% in the 1st quarter. Quantbot Technologies LP now owns 2,559 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,075 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $23.03 on Friday. The firm has a market cap of $2.12 billion, a PE ratio of 21.32 and a beta of 1.00. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $23.83 and a two-hundred day simple moving average of $23.53. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $27.60.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The company had revenue of $65.14 million for the quarter, compared to analysts’ expectations of $65.23 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Four Corners Property Trust’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.64 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date was Wednesday, March 27th. Four Corners Property Trust’s payout ratio is 127.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FCPT. Wells Fargo & Company boosted their price objective on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Raymond James decreased their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, January 8th.

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.