Mystic Asset Management Inc. Acquires Shares of 15,250 Four Corners Property Trust, Inc. (NYSE:FCPT)

Mystic Asset Management Inc. acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 15,250 shares of the financial services provider’s stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCPT. William Blair Investment Management LLC raised its holdings in shares of Four Corners Property Trust by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider’s stock worth $37,981,000 after buying an additional 33,450 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Four Corners Property Trust by 10.4% during the 4th quarter. Signaturefd LLC now owns 6,141 shares of the financial services provider’s stock worth $167,000 after buying an additional 579 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Four Corners Property Trust during the 4th quarter worth $245,000. Natixis Advisors LLC raised its holdings in shares of Four Corners Property Trust by 29.1% during the 4th quarter. Natixis Advisors LLC now owns 40,289 shares of the financial services provider’s stock worth $1,093,000 after buying an additional 9,080 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Four Corners Property Trust by 1.4% during the 4th quarter. Swiss National Bank now owns 182,207 shares of the financial services provider’s stock worth $4,945,000 after buying an additional 2,600 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FCPT shares. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Wells Fargo & Company boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Finally, Barclays lowered their target price on 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $28.03 on Wednesday. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The business has a 50-day simple moving average of $27.89 and a two-hundred day simple moving average of $28.40. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.80 billion, a PE ratio of 26.20 and a beta of 1.16.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.355 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.07%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 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.