Asset Management One Co. Ltd. Cuts Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Asset Management One Co. Ltd. lowered its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 250,836 shares of the financial services provider’s stock after selling 8,279 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Four Corners Property Trust were worth $7,352,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FCPT. Larson Financial Group LLC lifted its holdings in Four Corners Property Trust by 25,000.0% during the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,000 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Four Corners Property Trust by 23.2% in the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 470 shares during the last quarter. 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 acquiring an additional 3,467 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake 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 valued at $123,000 after acquiring an additional 814 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 1.1 %

Shares of FCPT stock opened at $27.81 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market cap of $2.69 billion, a PE ratio of 25.99 and a beta of 1.11. The business’s fifty day moving average is $29.01 and its 200-day moving average is $26.64. Four Corners Property Trust, Inc. has a 1 year low of $21.60 and a 1 year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results 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). The company had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Monday, September 30th. Four Corners Property Trust’s payout ratio is 128.97%.

Analyst Ratings Changes

Several brokerages have weighed in on FCPT. Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Raymond James lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Finally, Evercore ISI lifted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th.

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.