Heitman Real Estate Securities LLC Purchases Shares of 848,285 Four Corners Property Trust, Inc. (NYSE:FCPT)

Heitman Real Estate Securities LLC acquired a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the third quarter, HoldingsChannel reports. The institutional investor acquired 848,285 shares of the financial services provider’s stock, valued at approximately $24,863,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in Four Corners Property Trust during the third quarter valued at about $51,000. Blue Trust Inc. raised 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 purchasing an additional 3,467 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 921 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Four Corners Property Trust by 24.0% in the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after buying an additional 814 shares in the last quarter. Finally, Cape ANN Savings Bank bought a new position in shares of Four Corners Property Trust during the third quarter worth $200,000. 98.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FCPT. UBS Group initiated coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Evercore ISI boosted their target price on 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. Wells Fargo & Company restated an “overweight” rating and set 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 objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Four Corners Property Trust has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $28.94 on Tuesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The firm has a market capitalization of $2.80 billion, a PE ratio of 27.05 and a beta of 1.12. The firm has a 50-day moving average price of $28.76 and a 200-day moving average price of $27.25.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 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 business had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The firm also recently announced 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. This represents a $1.42 annualized dividend and a dividend yield of 4.91%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

About Four Corners Property Trust

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.