Four Corners Property Trust, Inc. (NYSE:FCPT) Position Increased by Truist Financial Corp

Truist Financial Corp increased its stake in Four Corners Property Trust, Inc. (NYSE:FCPTGet Rating) by 4.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 35,779 shares of the financial services provider’s stock after acquiring an additional 1,422 shares during the period. Truist Financial Corp’s holdings in Four Corners Property Trust were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Four Corners Property Trust by 1.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,012 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 473 shares during the last quarter. Texas Permanent School Fund raised its stake in Four Corners Property Trust by 0.9% during the 3rd quarter. Texas Permanent School Fund now owns 58,589 shares of the financial services provider’s stock valued at $1,417,000 after acquiring an additional 504 shares in the last quarter. Crawford Investment Counsel Inc. raised its stake in Four Corners Property Trust by 0.3% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 256,351 shares of the financial services provider’s stock valued at $6,816,000 after acquiring an additional 790 shares in the last quarter. Eaton Vance Management raised its stake in Four Corners Property Trust by 6.3% during the 1st quarter. Eaton Vance Management now owns 13,743 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 814 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Four Corners Property Trust by 4.2% during the 2nd quarter. Arizona State Retirement System now owns 21,779 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 869 shares in the last quarter. Institutional investors own 94.71% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $28.24 on Friday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 22.96 and a beta of 0.87. The stock’s fifty day simple moving average is $26.94 and its 200 day simple moving average is $26.70. Four Corners Property Trust, Inc. has a 52-week low of $22.67 and a 52-week high of $30.13.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.82%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, December 29th. Four Corners Property Trust’s payout ratio is presently 110.57%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FCPT. Evercore ISI downgraded Four Corners Property Trust from an “outperform” rating to an “inline” rating and set a $28.00 target price on the stock. in a research note on Monday, November 21st. Robert W. Baird lowered their price target on Four Corners Property Trust from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, October 7th. StockNews.com assumed coverage on Four Corners Property Trust in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Raymond James lifted their price target on Four Corners Property Trust from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, January 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.33.

Four Corners Property Trust Profile

(Get Rating)

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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