Prospector Partners LLC Acquires 1,000 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Prospector Partners LLC raised its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,563 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Prospector Partners LLC’s holdings in Four Corners Property Trust were worth $573,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Boston Trust Walden Corp grew its stake in shares of Four Corners Property Trust by 18.7% during the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after purchasing an additional 191,259 shares during the last quarter. Creative Planning lifted its holdings in Four Corners Property Trust by 13.3% during the 3rd quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after buying an additional 3,315 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Four Corners Property Trust by 6.1% during 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of Four Corners Property Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after buying an additional 116,453 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Four Corners Property Trust by 211.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after acquiring an additional 108,345 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Ratings Changes

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

Four Corners Property Trust Trading Up 0.6 %

Shares of NYSE:FCPT opened at $29.42 on Tuesday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 27.48 and a beta of 1.11. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93. The company’s fifty day simple moving average is $28.86 and its 200 day simple moving average is $27.05. 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 results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. As a group, research analysts forecast that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 4.83%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is 128.97%.

Four Corners Property Trust Company 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.