Mutual of America Capital Management LLC raised its position in Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating) by 5.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,146 shares of the financial services provider’s stock after acquiring an additional 578 shares during the period. Mutual of America Capital Management LLC’s holdings in Four Corners Property Trust were worth $301,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in FCPT. Van ECK Associates Corp lifted its holdings in shares of Four Corners Property Trust by 69.5% in the fourth quarter. Van ECK Associates Corp now owns 6,014 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 2,466 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Four Corners Property Trust in the fourth quarter valued at approximately $14,264,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Four Corners Property Trust by 3.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 99,456 shares of the financial services provider’s stock valued at $2,925,000 after purchasing an additional 3,086 shares in the last quarter. Yousif Capital Management LLC bought a new stake in Four Corners Property Trust during the fourth quarter worth $2,065,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in Four Corners Property Trust during the fourth quarter worth $1,079,000. Institutional investors and hedge funds own 92.46% of the company’s stock.
Four Corners Property Trust Price Performance
Four Corners Property Trust stock opened at $28.78 on Tuesday. Four Corners Property Trust, Inc. has a 52 week low of $24.24 and a 52 week high of $30.13. The business has a 50-day simple moving average of $27.20 and a 200 day simple moving average of $27.08. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.97. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 23.79 and a beta of 0.86.
Four Corners Property Trust Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Wednesday, June 29th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 109.92%.
Wall Street Analyst Weigh In
A number of analysts recently commented on FCPT shares. Janney Montgomery Scott lowered Four Corners Property Trust from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Monday. Raymond James boosted their target price on Four Corners Property Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 8th. Finally, Credit Suisse Group initiated coverage on Four Corners Property Trust in a research note on Wednesday, June 22nd. They issued a “neutral” rating and a $26.00 target price on the stock.
About Four Corners Property Trust
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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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