Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,480 shares of the financial services provider’s stock after purchasing an additional 2,600 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Four Corners Property Trust were worth $3,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Four Corners Property Trust during the third quarter worth approximately $51,000. Blue Trust Inc. boosted its stake in Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 3,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 921 shares during the last quarter. GAMMA Investing LLC grew its holdings in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 814 shares in the last quarter. Finally, Cape ANN Savings Bank bought a new stake in shares of Four Corners Property Trust in the 3rd quarter worth about $200,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FCPT shares. Evercore ISI increased their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. UBS Group assumed coverage on Four Corners Property Trust in a report on Thursday, November 14th. They set a “buy” rating and a $33.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday. Finally, Raymond James lifted their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $28.73 on Friday. The company has a market cap of $2.78 billion, a P/E ratio of 26.85 and a beta of 1.12. The business has a 50 day moving average of $28.73 and a two-hundred day moving average of $27.49. Four Corners Property Trust, Inc. has a 52 week low of $22.38 and a 52 week high of $30.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 4.94%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

Four Corners Property Trust Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.