Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPTGet Rating) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,671 shares of the financial services provider’s stock after purchasing an additional 1,900 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Four Corners Property Trust were worth $935,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Investment Advisory LLC grew its stake in Four Corners Property Trust by 859.1% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,218 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,091 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Four Corners Property Trust in the 2nd quarter valued at $33,000. Pinebridge Investments L.P. raised its position in Four Corners Property Trust by 347.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,341 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,041 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in Four Corners Property Trust during the 3rd quarter worth $38,000. Finally, Coston McIsaac & Partners purchased a new position in Four Corners Property Trust during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 94.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of Four Corners Property Trust from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, October 7th. Raymond James boosted 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. Evercore ISI cut Four Corners Property Trust from an “outperform” rating to an “inline” rating and set a $28.00 price objective for the company. in a research report on Monday, November 21st. Finally, StockNews.com initiated coverage on Four Corners Property Trust in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Four Corners Property Trust has an average rating of “Hold” and an average target price of $28.33.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $28.24 on Friday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 0.90. The business’s 50 day moving average is $26.94 and its two-hundred day moving average is $26.70. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 22.96 and a beta of 0.87. Four Corners Property Trust, Inc. has a 12-month low of $22.67 and a 12-month high of $30.13.

Four Corners Property Trust Increases Dividend

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

About Four Corners Property Trust

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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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