Comerica Bank Sells 6,050 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Comerica Bank lessened its holdings in Four Corners Property Trust, Inc. (NYSE:FCPTGet Rating) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,442 shares of the financial services provider’s stock after selling 6,050 shares during the quarter. Comerica Bank’s holdings in Four Corners Property Trust were worth $1,514,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FCPT. Bank of New York Mellon Corp boosted its position in shares of Four Corners Property Trust by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 1,072,536 shares of the financial services provider’s stock valued at $29,002,000 after acquiring an additional 3,329 shares during the period. Natixis Advisors L.P. lifted its position in Four Corners Property Trust by 26.9% during the first quarter. Natixis Advisors L.P. now owns 15,300 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 3,248 shares during the period. MetLife Investment Management LLC lifted its position in Four Corners Property Trust by 55.1% during the first quarter. MetLife Investment Management LLC now owns 42,406 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 15,073 shares during the period. Rhumbline Advisers lifted its position in Four Corners Property Trust by 2.0% during the first quarter. Rhumbline Advisers now owns 228,640 shares of the financial services provider’s stock worth $6,182,000 after purchasing an additional 4,434 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Four Corners Property Trust by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 66,686 shares of the financial services provider’s stock worth $1,803,000 after purchasing an additional 8,222 shares during the period. Institutional investors own 94.71% of the company’s stock.

Four Corners Property Trust Stock Up 0.4 %

Shares of NYSE FCPT opened at $28.24 on Monday. 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 company has a market cap 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. The stock has a 50-day moving average price of $26.94 and a two-hundred day moving average price of $26.69.

Four Corners Property Trust Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FCPT. StockNews.com began coverage on shares of Four Corners Property Trust in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Robert W. Baird cut their price objective on shares of Four Corners Property Trust from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, October 7th. Evercore ISI cut shares of 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, Raymond James upped their price objective on shares of Four Corners Property Trust from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, January 9th. Four equities research 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, Four Corners Property Trust has a consensus rating of “Hold” and a consensus price target of $28.33.

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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