Four Corners Property Trust, Inc. (NYSE:FCPT) Position Boosted by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC increased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,125 shares of the financial services provider’s stock after purchasing an additional 425 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Four Corners Property Trust were worth $58,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCPT. Creative Planning lifted its stake in Four Corners Property Trust by 13.3% during the third 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 in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Four Corners Property Trust by 6.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock valued at $10,236,000 after acquiring an additional 20,028 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Four Corners Property Trust by 211.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after purchasing an additional 108,345 shares during the period. Geode Capital Management LLC grew its position in Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after purchasing an additional 27,552 shares in the last quarter. Finally, Citigroup Inc. grew its position in Four Corners Property Trust by 21.0% during the 3rd quarter. Citigroup Inc. now owns 201,872 shares of the financial services provider’s stock worth $5,917,000 after purchasing an additional 35,059 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $26.78 on Tuesday. Four Corners Property Trust, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The stock’s 50-day moving average is $28.14 and its two-hundred day moving average is $27.94. 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 firm has a market cap of $2.59 billion, a P/E ratio of 25.03 and a beta of 1.13.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 7.68% and a net margin of 37.27%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. Analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is presently 132.71%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays began coverage on Four Corners Property Trust in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 target price for the company. Wells Fargo & Company restated an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. UBS Group began coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 target price on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.60.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.