Summit Global Investments Makes New Investment in Four Corners Property Trust, Inc. (NYSE:FCPT)

Summit Global Investments acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,687 shares of the financial services provider’s stock, valued at approximately $397,000.

Several other hedge funds have also recently bought and sold shares of FCPT. Vanguard Group Inc. grew its position in 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 valued at $226,884,000 after acquiring an additional 102,504 shares in the last quarter. Northern Trust Corp increased its stake in Four Corners Property Trust by 4.5% during the 3rd quarter. Northern Trust Corp now owns 1,163,576 shares of the financial services provider’s stock worth $25,820,000 after buying an additional 50,303 shares during the period. FMR LLC lifted its holdings in Four Corners Property Trust by 12.1% during the 3rd quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock worth $218,159,000 after buying an additional 1,061,170 shares in the last quarter. Deutsche Bank AG boosted its position in 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 valued at $11,251,000 after buying an additional 131,262 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Four Corners Property Trust by 3.3% in the third quarter. Invesco Ltd. now owns 2,253,418 shares of the financial services provider’s stock worth $50,003,000 after acquiring an additional 72,055 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.14 on Monday. The company has a market cap of $2.22 billion, a P/E ratio of 22.56 and a beta of 1.01. The firm has a fifty day moving average price of $23.86 and a 200 day moving average price of $23.68. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.40. Four Corners Property Trust, Inc. has a 12 month low of $20.51 and a 12 month high of $27.60.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). Four Corners Property Trust had a return on equity of 7.65% and a net margin of 37.44%. The business had revenue of $65.14 million for the quarter, compared to analyst estimates of $65.23 million. During the same period in the prior year, the company posted $0.41 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. Sell-side analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.345 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.38 dividend on an annualized basis and a yield of 5.72%. Four Corners Property Trust’s payout ratio is currently 128.97%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FCPT shares. Wells Fargo & Company lifted their target price on 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 price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, January 8th.

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.