Wells Fargo & Company MN Grows Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Wells Fargo & Company MN increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 543,746 shares of the financial services provider’s stock after purchasing an additional 4,832 shares during the period. Wells Fargo & Company MN owned 0.56% of Four Corners Property Trust worth $14,757,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Centersquare Investment Management LLC raised its holdings in Four Corners Property Trust by 5.5% in the 4th quarter. Centersquare Investment Management LLC now owns 21,666 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 1,120 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Four Corners Property Trust by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider’s stock worth $66,651,000 after acquiring an additional 98,120 shares during the period. Franklin Resources Inc. increased its position in Four Corners Property Trust by 32.1% during the fourth quarter. Franklin Resources Inc. now owns 37,574 shares of the financial services provider’s stock valued at $1,020,000 after acquiring an additional 9,120 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Four Corners Property Trust in the fourth quarter worth about $299,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Four Corners Property Trust by 11.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 129,500 shares of the financial services provider’s stock valued at $3,515,000 after purchasing an additional 13,020 shares during the period. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

FCPT opened at $27.49 on Tuesday. The company has a 50 day simple moving average of $28.02 and a two-hundred day simple moving average of $28.14. The firm has a market cap of $2.75 billion, a P/E ratio of 25.69 and a beta of 0.93. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate 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%. Equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.355 per share. The ex-dividend date is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.17%. Four Corners Property Trust’s dividend payout ratio is presently 132.71%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FCPT. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Wells Fargo & Company lifted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Finally, Barclays reduced their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Four Corners Property Trust Company Profile

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.