Principal Financial Group Inc. Sells 59,633 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Principal Financial Group Inc. trimmed its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,724,810 shares of the financial services provider’s stock after selling 59,633 shares during the quarter. Principal Financial Group Inc. owned 1.90% of Four Corners Property Trust worth $43,638,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 valued at $226,884,000 after buying an additional 102,504 shares during the last quarter. FMR LLC raised its stake in shares of Four Corners Property Trust by 12.1% during the third quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock valued at $218,159,000 after acquiring an additional 1,061,170 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Four Corners Property Trust by 3.3% during the third quarter. American Century Companies Inc. now owns 2,457,991 shares of the financial services provider’s stock worth $54,543,000 after purchasing an additional 78,579 shares during the period. Invesco Ltd. increased its holdings in Four Corners Property Trust by 3.3% during 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 period. Finally, Charles Schwab Investment Management Inc. raised its position in Four Corners Property Trust by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,339,614 shares of the financial services provider’s stock valued at $33,892,000 after purchasing an additional 53,517 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their price target on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th.

Four Corners Property Trust Stock Down 0.8 %

Shares of Four Corners Property Trust stock opened at $25.00 on Friday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 23.36 and a beta of 1.01. The company’s 50 day moving average is $23.94 and its 200 day moving average is $23.87. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $27.60. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data 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). The company had revenue of $65.14 million for the quarter, compared to the consensus estimate of $65.23 million. Four Corners Property Trust had a net margin of 37.44% and a return on equity of 7.65%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Research 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 announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.345 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.38 dividend on an annualized basis and a yield of 5.52%. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

About Four Corners Property Trust

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.