Sumitomo Mitsui Trust Group Inc. Purchases 7,479 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,360 shares of the financial services provider’s stock after acquiring an additional 7,479 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of Four Corners Property Trust worth $2,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in Four Corners Property Trust by 30.6% in the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after purchasing an additional 3,268,064 shares during the last quarter. Heitman Real Estate Securities LLC bought a new stake in Four Corners Property Trust in the third quarter valued at about $24,863,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Four Corners Property Trust by 539.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,318 shares of the financial services provider’s stock valued at $20,145,000 after purchasing an additional 579,849 shares during the last quarter. Bank of Montreal Can increased its holdings in Four Corners Property Trust by 1,867.7% in the third quarter. Bank of Montreal Can now owns 228,987 shares of the financial services provider’s stock valued at $6,771,000 after purchasing an additional 217,350 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Four Corners Property Trust by 212.5% in the third quarter. Jane Street Group LLC now owns 255,275 shares of the financial services provider’s stock valued at $7,482,000 after purchasing an additional 173,598 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 2.4 %

NYSE:FCPT opened at $28.41 on Friday. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 26.56 and a beta of 1.14. The stock has a 50-day moving average price of $27.69 and a two-hundred day moving average price of $28.22.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. As a group, equities analysts expect that Four Corners Property Trust, Inc. will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group assumed coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Barclays dropped their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Four Corners Property Trust has an average rating of “Moderate Buy” and a consensus price target of $30.40.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.