Thrivent Financial for Lutherans Boosts Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Thrivent Financial for Lutherans increased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 349,221 shares of the financial services provider’s stock after purchasing an additional 20,028 shares during the period. Thrivent Financial for Lutherans owned approximately 0.36% of Four Corners Property Trust worth $10,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Boston Trust Walden Corp boosted its position in 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 buying an additional 191,259 shares during the period. Creative Planning lifted its position in Four Corners Property Trust by 13.3% in the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock valued at $825,000 after purchasing an additional 3,315 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Four Corners Property Trust by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after purchasing an additional 116,453 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Four Corners Property Trust by 6.1% in the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after purchasing an additional 102,662 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Four Corners Property Trust in the third quarter worth $243,000. Institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on FCPT shares. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Raymond James boosted 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. Evercore ISI raised their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, UBS Group started 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 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Four Corners Property Trust Price Performance

FCPT opened at $29.22 on Friday. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 27.36 and a beta of 1.11. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $28.89 and a two-hundred day simple moving average of $26.96.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. 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 previous year, the firm earned $0.42 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Research analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio (DPR) 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.