Four Corners Property Trust, Inc. (NYSE:FCPT) Position Lifted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,950 shares of the financial services provider’s stock after acquiring an additional 977 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Four Corners Property Trust were worth $867,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FCPT. Thrivent Financial for Lutherans lifted its position in shares of Four Corners Property Trust by 6.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock worth $10,236,000 after buying an additional 20,028 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Four Corners Property Trust by 91.2% in the 4th quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock worth $268,000 after buying an additional 4,708 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Four Corners Property Trust by 211.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after buying an additional 108,345 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Four Corners Property Trust by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after buying an additional 27,552 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 worth $24,193,000 after buying an additional 11,131 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FCPT shares. Barclays reduced their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company raised 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 report on Monday, March 10th. Finally, JMP Securities restated 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 assigned a buy rating to the company. Based on data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Four Corners Property Trust Stock Up 1.6 %

FCPT stock opened at $27.95 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. 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’s 50-day simple moving average is $27.85 and its 200 day simple moving average is $28.40. The stock has a market cap of $2.79 billion, a PE ratio of 26.12 and a beta of 1.16.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, topping 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, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.355 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 5.08%. Four Corners Property Trust’s payout ratio is 132.71%.

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.