Truvestments Capital LLC Makes New $51,000 Investment in Four Corners Property Trust, Inc. (NYSE:FCPT)

Truvestments Capital LLC bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,749 shares of the financial services provider’s stock, valued at approximately $51,000.

A number of other large investors have also recently made changes to their positions in FCPT. Vanguard Group Inc. increased its stake in Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after purchasing an additional 116,453 shares during the last quarter. Earnest Partners LLC increased its stake in Four Corners Property Trust by 31.3% in the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after purchasing an additional 759,749 shares during the last quarter. Principal Financial Group Inc. increased its stake in Four Corners Property Trust by 6.1% in the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after purchasing an additional 102,662 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Four Corners Property Trust by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock valued at $44,495,000 after purchasing an additional 63,856 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in Four Corners Property Trust by 9.5% in the third quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock valued at $39,061,000 after purchasing an additional 115,924 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 NYSE FCPT opened at $29.54 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a fifty day moving average price of $28.81 and a 200 day moving average price of $27.12. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93. The company has a market cap of $2.86 billion, a PE ratio of 27.61 and a beta of 1.11.

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

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a dividend yield of 4.81%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FCPT. UBS Group began coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI increased their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Finally, Raymond James increased their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Four Corners Property Trust has an average rating of “Moderate Buy” and an average price target 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.