Cibc World Markets Corp Makes New $245,000 Investment in Four Corners Property Trust, Inc. (NYSE:FCPT)

Cibc World Markets Corp purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,029 shares of the financial services provider’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its holdings in Four Corners Property Trust by 30.6% in the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after buying an additional 3,268,064 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $69,101,000 after purchasing an additional 27,552 shares during the period. Principal Financial Group Inc. increased its position in Four Corners Property Trust by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,822,422 shares of the financial services provider’s stock worth $49,463,000 after purchasing an additional 48,319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Four Corners Property Trust by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider’s stock worth $43,776,000 after purchasing an additional 94,903 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Four Corners Property Trust by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider’s stock valued at $24,193,000 after purchasing an additional 11,131 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.5 %

Four Corners Property Trust stock opened at $28.34 on Wednesday. The company has a market capitalization of $2.83 billion, a PE ratio of 26.49 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. Four Corners Property Trust, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The firm has a 50 day moving average price of $28.05 and a 200 day moving average price of $28.39.

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 return on equity of 7.54% and a net margin of 37.48%. Research analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.355 per share. The ex-dividend date is Monday, March 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.01%. Four Corners Property Trust’s dividend payout ratio is presently 132.71%.

Wall Street Analysts Forecast Growth

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