Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,691 shares of the financial services provider’s stock after selling 15,939 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Four Corners Property Trust worth $3,900,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Four Corners Property Trust by 1.5% in the 4th quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 406 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 425 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Four Corners Property Trust by 1.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider’s stock worth $1,226,000 after purchasing an additional 469 shares during the period. Yousif Capital Management LLC boosted its position in Four Corners Property Trust by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 36,611 shares of the financial services provider’s stock worth $994,000 after purchasing an additional 600 shares during the period. Finally, MML Investors Services LLC boosted its position in Four Corners Property Trust by 5.6% during the 3rd quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FCPT. Barclays decreased their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Finally, Wells Fargo & Company upped 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $27.95 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a 50-day moving average of $27.85 and a two-hundred day moving average of $28.40. The stock has a market cap of $2.79 billion, a P/E ratio of 26.12 and a beta of 1.16. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating 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%. On average, research analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.08%. Four Corners Property Trust’s payout ratio is currently 132.71%.

Four Corners Property Trust Company Profile

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.