Metis Global Partners LLC Makes New Investment in Four Corners Property Trust, Inc. (NYSE:FCPT)

Metis Global Partners LLC purchased a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 9,543 shares of the financial services provider’s stock, valued at approximately $280,000.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd increased its stake in 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 acquiring an additional 470 shares during the last quarter. Blue Trust Inc. increased its position in shares of Four Corners Property Trust by 1,469.1% in the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 3,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 921 shares in the last quarter. GAMMA Investing LLC lifted its position in Four Corners Property Trust by 24.0% during the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Four Corners Property Trust by 491.0% in the 1st quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock worth $195,000 after buying an additional 6,624 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $28.74 on Tuesday. The company has a 50-day simple moving average of $28.93 and a two-hundred day simple moving average of $26.87. 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 cap of $2.78 billion, a price-to-earnings ratio of 26.86 and a beta of 1.11. 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 issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 4.94%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust 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 research report on Tuesday, October 1st. Raymond James upped their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Evercore ISI raised their price objective on 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. Finally, UBS Group began coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

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.