Everence Capital Management Inc. Acquires New Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Everence Capital Management Inc. acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,360 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors have also bought and sold shares of FCPT. FMR LLC lifted its stake in Four Corners Property Trust by 12.1% in the third quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock valued at $218,159,000 after purchasing an additional 1,061,170 shares during the last quarter. Norges Bank bought a new stake in Four Corners Property Trust during the 4th quarter valued at $22,201,000. Millennium Management LLC raised its holdings in Four Corners Property Trust by 3,063.1% during the 2nd quarter. Millennium Management LLC now owns 822,438 shares of the financial services provider’s stock valued at $21,869,000 after acquiring an additional 796,437 shares during the period. BlackRock Inc. raised its holdings in Four Corners Property Trust by 3.7% during the 2nd quarter. BlackRock Inc. now owns 15,934,776 shares of the financial services provider’s stock valued at $404,743,000 after acquiring an additional 564,173 shares during the period. Finally, Balyasny Asset Management LLC bought a new stake in Four Corners Property Trust during the 3rd quarter valued at $10,213,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Raymond James lowered their target price 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.

Four Corners Property Trust Trading Up 1.6 %

Four Corners Property Trust stock opened at $23.03 on Friday. The stock has a market cap of $2.12 billion, a P/E ratio of 21.32 and a beta of 1.00. Four Corners Property Trust, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $27.60. The firm’s fifty day moving average price is $23.83 and its 200-day moving average price is $23.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12.

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

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.345 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.38 annualized dividend and a dividend yield of 5.99%. Four Corners Property Trust’s payout ratio is currently 127.78%.

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.