Raymond James Financial Inc. Takes Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Raymond James Financial Inc. purchased a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 473,301 shares of the financial services provider’s stock, valued at approximately $12,845,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCPT. FMR LLC grew its holdings in Four Corners Property Trust by 30.6% during the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock worth $408,310,000 after acquiring an additional 3,268,064 shares in the last quarter. Heitman Real Estate Securities LLC acquired a new position in Four Corners Property Trust in the third quarter worth about $24,863,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Four Corners Property Trust by 539.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,318 shares of the financial services provider’s stock worth $20,145,000 after purchasing an additional 579,849 shares in the last quarter. Bank of Montreal Can increased its holdings in Four Corners Property Trust by 1,867.7% in the third quarter. Bank of Montreal Can now owns 228,987 shares of the financial services provider’s stock valued at $6,771,000 after buying an additional 217,350 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Four Corners Property Trust by 212.5% during the third quarter. Jane Street Group LLC now owns 255,275 shares of the financial services provider’s stock valued at $7,482,000 after buying an additional 173,598 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 0.1 %

Shares of NYSE FCPT opened at $28.09 on Thursday. 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 $2.81 billion, a price-to-earnings ratio of 26.25 and a beta of 1.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $27.92 and its 200 day simple moving average is $28.40.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Equities research analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.355 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 5.06%. Four Corners Property Trust’s dividend payout ratio is presently 132.71%.

Analyst Ratings Changes

Several brokerages have recently commented on FCPT. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Barclays decreased their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company increased their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Four Corners Property Trust 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.