Orion Portfolio Solutions LLC Has $230,000 Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Orion Portfolio Solutions LLC lessened its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,851 shares of the financial services provider’s stock after selling 704 shares during the period. Orion Portfolio Solutions LLC’s holdings in Four Corners Property Trust were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of Four Corners Property Trust by 1,469.1% in 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. Louisiana State Employees Retirement System grew its position in Four Corners Property Trust by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock valued at $1,142,000 after acquiring an additional 1,400 shares during the period. Bank of New York Mellon Corp raised its stake in Four Corners Property Trust by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after acquiring an additional 22,792 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Four Corners Property Trust by 5.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock worth $1,836,000 after acquiring an additional 3,597 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Four Corners Property Trust by 12.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,934 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 3,636 shares during the period. Institutional investors own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FCPT. Barclays assumed coverage on shares of Four Corners Property Trust in a report on Tuesday. They issued an “equal weight” rating and a $31.00 target price on the stock. UBS Group initiated coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Finally, Evercore ISI increased 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 report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

Four Corners Property Trust Trading Down 1.4 %

FCPT opened at $26.74 on Friday. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93. The stock has a market capitalization of $2.59 billion, a PE ratio of 24.99 and a beta of 1.12. 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 firm has a 50-day moving average price of $28.69 and a two-hundred day moving average price of $27.60.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share 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 company had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. During the same period in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate 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 company 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.31%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is presently 132.71%.

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.