Great West Life Assurance Co. Can Invests $3.96 Million in Four Corners Property Trust, Inc. (NYSE:FCPT)

Great West Life Assurance Co. Can bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 163,633 shares of the financial services provider’s stock, valued at approximately $3,962,000.

Several other institutional investors and hedge funds also recently modified their holdings of FCPT. Harbor Investment Advisory LLC boosted its position in shares of Four Corners Property Trust by 859.1% in the second 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 period. Eagle Bay Advisors LLC acquired a new position in shares of Four Corners Property Trust in the second quarter worth about $33,000. Pinebridge Investments L.P. lifted its stake in shares of Four Corners Property Trust by 347.0% in the second quarter. Pinebridge Investments L.P. now owns 1,341 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 1,041 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Four Corners Property Trust in the third quarter worth about $38,000. Finally, Coston McIsaac & Partners acquired a new position in shares of Four Corners Property Trust in the second quarter worth about $49,000. Hedge funds and other institutional investors own 94.71% of the company’s stock.

Analysts Set New Price Targets

FCPT has been the topic of several recent analyst reports. Raymond James boosted their price target on Four Corners Property Trust from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, January 9th. Robert W. Baird cut 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 note on Friday, October 7th. StockNews.com began coverage on Four Corners Property Trust in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Evercore ISI cut Four Corners Property Trust from an “outperform” rating to an “inline” rating and set a $28.00 price objective on the stock. in a research note on Monday, November 21st. Four equities 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, Four Corners Property Trust currently has an average rating of “Hold” and an average target price of $28.33.

Four Corners Property Trust Stock Up 0.4 %

NYSE:FCPT opened at $28.24 on Monday. The firm has a market capitalization of $2.37 billion, a PE ratio of 22.96 and a beta of 0.87. The stock has a 50 day moving average of $26.94 and a 200-day moving average of $26.69. Four Corners Property Trust, Inc. has a 52 week low of $22.67 and a 52 week high of $30.13. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 0.90.

Four Corners Property Trust Increases Dividend

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

About Four Corners Property Trust

(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.