Mirae Asset Global Investments Co. Ltd. Cuts Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 27.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,586 shares of the financial services provider’s stock after selling 984 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Four Corners Property Trust were worth $71,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Four Corners Property Trust by 30.6% during the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after acquiring an additional 3,268,064 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Four Corners Property Trust by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after purchasing an additional 27,552 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Four Corners Property Trust by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after acquiring an additional 102,662 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Four Corners Property Trust by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock worth $44,495,000 after acquiring an additional 63,856 shares during the period. Finally, Boston Trust Walden Corp grew its stake in shares of Four Corners Property Trust by 9.5% in the third quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock worth $39,061,000 after acquiring an additional 115,924 shares during the period. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 2.2 %

Four Corners Property Trust stock opened at $27.79 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The firm has a 50 day moving average of $27.64 and a 200 day moving average of $28.23. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 25.97 and a beta of 1.14.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. As a group, research analysts predict that Four Corners Property Trust, Inc. will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FCPT shares. Barclays lowered 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. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday. Finally, UBS Group assumed coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.40.

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.