Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,874,938 shares of the financial services provider’s stock after acquiring an additional 240,230 shares during the period. Vanguard Group Inc. owned about 0.11% of Four Corners Property Trust worth $295,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Four Corners Property Trust by 234.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 817 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Four Corners Property Trust by 165.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 860 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Four Corners Property Trust in the 4th quarter valued at about $39,000. Synergy Investment Management LLC acquired a new stake in Four Corners Property Trust during the fourth quarter valued at approximately $48,000. Finally, Eagle Bay Advisors LLC lifted its holdings in Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $58,000 after buying an additional 425 shares during the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Down 2.5 %

FCPT opened at $27.66 on Friday. The stock’s 50 day moving average price is $28.19 and its 200 day moving average price is $28.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $2.77 billion, a P/E ratio of 25.85 and a beta of 0.93. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. As a group, research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Monday, March 31st. Four Corners Property Trust’s payout ratio is currently 132.71%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FCPT. Wells Fargo & Company increased their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Barclays cut their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

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.