Cibc World Markets Corp Acquires Shares of 9,029 Four Corners Property Trust, Inc. (NYSE:FCPT)

Cibc World Markets Corp bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,029 shares of the financial services provider’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in Four Corners Property Trust by 1.5% in the fourth quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 406 shares during the period. Eagle Bay Advisors LLC lifted its stake in shares of Four Corners Property Trust by 25.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 425 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Four Corners Property Trust by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider’s stock worth $1,226,000 after buying an additional 469 shares in the last quarter. Yousif Capital Management LLC grew its position in Four Corners Property Trust by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 36,611 shares of the financial services provider’s stock valued at $994,000 after buying an additional 600 shares during the period. Finally, MML Investors Services LLC increased its holdings in Four Corners Property Trust by 5.6% in the third quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock valued at $348,000 after buying an additional 635 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FCPT. 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 research note on Monday, March 10th. Barclays reduced their price target on 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, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.20.

Four Corners Property Trust Stock Down 0.5 %

FCPT opened at $28.34 on Wednesday. The company has a market cap of $2.83 billion, a PE ratio of 26.49 and a beta of 1.16. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a 50-day moving average price of $28.05 and a 200 day moving average price of $28.39. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate 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%. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.355 per share. The ex-dividend date is Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 5.01%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

About Four Corners Property Trust

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.