Summit Global Investments purchased a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,687 shares of the financial services provider’s stock, valued at approximately $397,000.
A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Four Corners Property Trust by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,224,604 shares of the financial services provider’s stock worth $226,884,000 after buying an additional 102,504 shares during the period. Northern Trust Corp increased its position in Four Corners Property Trust by 4.5% during the 3rd quarter. Northern Trust Corp now owns 1,163,576 shares of the financial services provider’s stock valued at $25,820,000 after purchasing an additional 50,303 shares during the period. FMR LLC raised its holdings in Four Corners Property Trust by 12.1% during the 3rd quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock worth $218,159,000 after purchasing an additional 1,061,170 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Four Corners Property Trust by 34.9% in the 3rd quarter. Deutsche Bank AG now owns 507,017 shares of the financial services provider’s stock worth $11,251,000 after purchasing an additional 131,262 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Four Corners Property Trust by 3.3% in the 3rd quarter. Invesco Ltd. now owns 2,253,418 shares of the financial services provider’s stock valued at $50,003,000 after purchasing an additional 72,055 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.
Four Corners Property Trust Stock Up 0.2 %
Shares of NYSE:FCPT opened at $24.14 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14. Four Corners Property Trust, Inc. has a 52-week low of $20.51 and a 52-week high of $27.60. The business’s 50 day simple moving average is $23.86 and its two-hundred day simple moving average is $23.68. The firm has a market cap of $2.22 billion, a P/E ratio of 22.56 and a beta of 1.01.
Four Corners Property Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.345 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.72%. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.
Analyst Ratings Changes
Several research firms recently issued reports on FCPT. Wells Fargo & Company boosted their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Raymond James decreased their target price on 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.
Get Our Latest Report on Four Corners Property Trust
Four Corners Property Trust Company 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.
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