Brinker Capital Investments LLC lifted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating) by 16.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,513 shares of the financial services provider's stock after purchasing an additional 10,764 shares during the quarter. Brinker Capital Investments LLC owned 0.10% of Four Corners Property Trust worth $2,061,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Four Corners Property Trust by 15.2% during the first quarter. Victory Capital Management Inc. now owns 4,074,655 shares of the financial services provider's stock worth $110,185,000 after buying an additional 538,865 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Four Corners Property Trust by 3.4% during the first quarter. Vanguard Group Inc. now owns 9,456,757 shares of the financial services provider's stock worth $255,711,000 after buying an additional 312,407 shares during the last quarter. BlackRock Inc. grew its stake in shares of Four Corners Property Trust by 1.8% during the first quarter. BlackRock Inc. now owns 15,230,359 shares of the financial services provider's stock worth $411,828,000 after buying an additional 267,083 shares during the last quarter. State Street Corp grew its stake in shares of Four Corners Property Trust by 6.0% during the fourth quarter. State Street Corp now owns 4,186,265 shares of the financial services provider's stock worth $124,496,000 after buying an additional 237,761 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Four Corners Property Trust by 11.3% during the first quarter. American Century Companies Inc. now owns 2,319,933 shares of the financial services provider's stock worth $62,731,000 after buying an additional 236,241 shares during the last quarter. 94.65% of the stock is owned by institutional investors.
Get Four Corners Property Trust alerts:Analyst Ratings Changes
A number of research firms have weighed in on FCPT. Raymond James decreased their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 6th. Credit Suisse Group started coverage on shares of Four Corners Property Trust in a report on Wednesday, June 22nd. They set a "neutral" rating and a $26.00 price target on the stock. Berenberg Bank lowered shares of Four Corners Property Trust from a "buy" rating to a "hold" rating and cut their price target for the stock from $31.00 to $30.00 in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Evercore ISI cut their price target on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Janney Montgomery Scott lowered shares of Four Corners Property Trust to a "neutral" rating in a report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $29.00.
Four Corners Property Trust Price Performance
FCPT stock opened at $24.19 on Friday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 19.99 and a beta of 0.87. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.97. Four Corners Property Trust, Inc. has a 12-month low of $23.34 and a 12-month high of $30.13. The company's fifty day simple moving average is $27.41 and its 200 day simple moving average is $27.27.Four Corners Property Trust (NYSE:FCPT – Get Rating) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.12). Four Corners Property Trust had a net margin of 44.68% and a return on equity of 10.01%. During the same quarter last year, the business posted $0.38 earnings per share. On average, analysts expect that Four Corners Property Trust, Inc. will post 1.58 earnings per share for the current year.
Four Corners Property Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.333 dividend. This is a positive change from Four Corners Property Trust's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.33 annualized dividend and a yield of 5.51%. Four Corners Property Trust's payout ratio is presently 109.92%.
Four Corners Property Trust Profile
(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.
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