Citigroup Inc. Acquires 35,059 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Citigroup Inc. lifted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 21.0% during the 3rd quarter, Holdings Channel reports. The firm owned 201,872 shares of the financial services provider’s stock after purchasing an additional 35,059 shares during the quarter. Citigroup Inc.’s holdings in Four Corners Property Trust were worth $5,917,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FCPT. Earnest Partners LLC lifted its stake in Four Corners Property Trust by 31.3% during the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after acquiring an additional 759,749 shares in the last quarter. 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 worth $30,017,000 after purchasing an additional 191,259 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Four Corners Property Trust by 211.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after purchasing an additional 108,345 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Four Corners Property Trust by 6.1% during 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 acquiring an additional 102,662 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Four Corners Property Trust by 14.3% in the 2nd quarter. Marshall Wace LLP now owns 606,053 shares of the financial services provider’s stock worth $14,951,000 after purchasing an additional 75,911 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 0.6 %

Shares of Four Corners Property Trust stock opened at $29.71 on Monday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 27.77 and a beta of 1.11. 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 quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $28.78 and a 200-day moving average price of $27.22.

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 (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 quarter in the previous year, the company earned $0.42 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS 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 paid a dividend of $0.355 per share. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James boosted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Evercore ISI raised their target price on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. UBS Group assumed coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average target price of $30.50.

Four Corners Property Trust 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.