Sumitomo Mitsui DS Asset Management Company Ltd Sells 553 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,251 shares of the financial services provider’s stock after selling 553 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Four Corners Property Trust were worth $791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Four Corners Property Trust by 76.2% in the fourth quarter. Signaturefd LLC now owns 4,168 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 1,803 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Four Corners Property Trust by 71.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,493 shares of the financial services provider’s stock valued at $2,011,000 after acquiring an additional 33,062 shares during the period. Everence Capital Management Inc. bought a new stake in Four Corners Property Trust in the fourth quarter valued at about $212,000. Rye Brook Capital LLC increased its stake in Four Corners Property Trust by 59.0% in the fourth quarter. Rye Brook Capital LLC now owns 421,000 shares of the financial services provider’s stock valued at $10,651,000 after acquiring an additional 156,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Four Corners Property Trust by 6.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 106,975 shares of the financial services provider’s stock worth $2,706,000 after buying an additional 6,271 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 0.5 %

FCPT opened at $23.49 on Friday. The firm’s fifty day moving average is $23.86 and its two-hundred day moving average is $23.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $2.16 billion, a PE ratio of 21.75 and a beta of 1.00. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $27.60.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The company had revenue of $65.14 million for the quarter, compared to analyst estimates of $65.23 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. Equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.64 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.345 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.87%. Four Corners Property Trust’s payout ratio is 127.78%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FCPT shares. Wells Fargo & Company upped their price objective on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Raymond James cut their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, January 8th.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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.