Intech Investment Management LLC Acquires New Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Intech Investment Management LLC acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the third quarter, HoldingsChannel reports. The fund acquired 24,742 shares of the financial services provider’s stock, valued at approximately $725,000.

A number of other institutional investors have also recently bought and sold shares of FCPT. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Four Corners Property Trust by 211.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock valued at $4,679,000 after acquiring an additional 108,345 shares during the last quarter. Quest Partners LLC bought a new stake in Four Corners Property Trust in the third quarter valued at approximately $1,720,000. Thrivent Financial for Lutherans raised its holdings in Four Corners Property Trust by 6.1% in the third quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock worth $10,236,000 after purchasing an additional 20,028 shares during the period. Natixis Advisors LLC increased its position in shares of Four Corners Property Trust by 4.6% in the 3rd quarter. Natixis Advisors LLC now owns 31,209 shares of the financial services provider’s stock valued at $915,000 after buying an additional 1,377 shares in the last quarter. Finally, Metis Global Partners LLC acquired a new stake in Four Corners Property Trust during the 3rd quarter worth $280,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of research analyst reports. Raymond James boosted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. UBS Group started coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 target price for the company. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Finally, Evercore ISI raised their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Trading Up 0.6 %

NYSE:FCPT opened at $29.71 on Friday. The company has a market cap of $2.87 billion, a P/E ratio of 28.10 and a beta of 1.11. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The business has a 50 day moving average price of $28.78 and a two-hundred day moving average price of $27.15. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The business had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 4.78%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Four Corners Property Trust Profile

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.