Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Bought by abrdn plc

abrdn plc boosted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPTGet Rating) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,142 shares of the financial services provider’s stock after purchasing an additional 792 shares during the period. abrdn plc’s holdings in Four Corners Property Trust were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in Four Corners Property Trust by 6.0% in the fourth quarter. State Street Corp now owns 4,186,265 shares of the financial services provider’s stock valued at $124,496,000 after buying an additional 237,761 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Four Corners Property Trust by 83.7% in the fourth quarter. Victory Capital Management Inc. now owns 3,535,790 shares of the financial services provider’s stock valued at $103,988,000 after buying an additional 1,611,069 shares in the last quarter. Invesco Ltd. increased its holdings in Four Corners Property Trust by 21.0% in the fourth quarter. Invesco Ltd. now owns 2,475,394 shares of the financial services provider’s stock valued at $72,800,000 after buying an additional 428,790 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Four Corners Property Trust by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,559,228 shares of the financial services provider’s stock worth $45,856,000 after purchasing an additional 37,666 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Four Corners Property Trust by 0.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,516,686 shares of the financial services provider’s stock worth $44,106,000 after purchasing an additional 4,156 shares in the last quarter. 92.46% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

FCPT opened at $28.18 on Thursday. The firm has a market capitalization of $2.30 billion, a PE ratio of 23.29 and a beta of 0.86. Four Corners Property Trust, Inc. has a twelve month low of $24.24 and a twelve month high of $30.13. The firm’s 50-day moving average price is $27.26 and its 200 day moving average price is $27.10. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.97.

Four Corners Property Trust (NYSE:FCPTGet Rating) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.12). Four Corners Property Trust had a net margin of 44.68% and a return on equity of 10.01%. During the same quarter last year, the business earned $0.38 earnings per share. As a group, sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.59 EPS for the current fiscal year.

Four Corners Property Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.3325 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.33 annualized dividend and a yield of 4.72%. Four Corners Property Trust’s payout ratio is 109.92%.

Wall Street Analysts Forecast Growth

FCPT has been the subject of a number of research reports. Raymond James boosted their target price on shares of Four Corners Property Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 8th. Berenberg Bank cut shares of Four Corners Property Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $30.00 in a research note on Tuesday. They noted that the move was a valuation call. Janney Montgomery Scott cut shares of Four Corners Property Trust from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Monday. Finally, Credit Suisse Group started coverage on shares of Four Corners Property Trust in a research note on Wednesday, June 22nd. They set a “neutral” rating and a $26.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.75.

Four Corners Property Trust Profile

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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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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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