Daiwa Securities Group Inc. Sells 1,359 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Daiwa Securities Group Inc. trimmed its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,524 shares of the financial services provider’s stock after selling 1,359 shares during the period. Daiwa Securities Group Inc.’s holdings in Four Corners Property Trust were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Four Corners Property Trust by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,224,604 shares of the financial services provider’s stock worth $226,884,000 after acquiring an additional 102,504 shares in the last quarter. Northern Trust Corp increased its stake in shares of Four Corners Property Trust by 4.5% during the third quarter. Northern Trust Corp now owns 1,163,576 shares of the financial services provider’s stock valued at $25,820,000 after purchasing an additional 50,303 shares in the last quarter. FMR LLC lifted its holdings in shares of Four Corners Property Trust by 12.1% during 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. Deutsche Bank AG boosted its position in shares of Four Corners Property Trust by 34.9% in the 3rd quarter. Deutsche Bank AG now owns 507,017 shares of the financial services provider’s stock worth $11,251,000 after purchasing an additional 131,262 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Four Corners Property Trust by 3.3% in the 3rd quarter. Invesco Ltd. now owns 2,253,418 shares of the financial services provider’s stock worth $50,003,000 after buying an additional 72,055 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $23.49 on Friday. Four Corners Property Trust, Inc. has a 12 month low of $20.51 and a 12 month high of $27.60. The business’s fifty day simple moving average is $23.86 and its two-hundred day simple moving average is $23.58. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 21.75 and a beta of 1.00.

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

Four Corners Property Trust Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Raymond James dropped their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, January 8th.

Four Corners Property Trust Company 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.