Prospector Partners LLC Buys 1,000 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Prospector Partners LLC lifted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,563 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the quarter. Prospector Partners LLC’s holdings in Four Corners Property Trust were worth $573,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Boston Trust Walden Corp grew its stake in Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after purchasing an additional 191,259 shares in the last quarter. Creative Planning boosted its holdings in shares of Four Corners Property Trust by 13.3% in the 3rd quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock valued at $825,000 after buying an additional 3,315 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Four Corners Property Trust by 6.1% in the third quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock valued at $10,236,000 after buying an additional 20,028 shares in the last quarter. Vanguard Group Inc. increased its holdings in Four Corners Property Trust by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after buying an additional 116,453 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Four Corners Property Trust by 211.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after acquiring an additional 108,345 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 0.6 %

Shares of FCPT opened at $29.42 on Tuesday. The firm’s 50-day simple moving average is $28.86 and its 200 day simple moving average is $27.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $2.85 billion, a P/E ratio of 27.48 and a beta of 1.11. Four Corners Property Trust, Inc. has a 52 week low of $22.38 and a 52 week high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. Four Corners Property Trust’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, analysts forecast that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a yield of 4.83%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Wall Street Analysts Forecast Growth

FCPT has been the subject of a number of analyst reports. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI upped their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Raymond James lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, UBS Group started coverage on Four Corners Property Trust in a report on Thursday, November 14th. They set a “buy” rating and a $33.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

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.