Four Corners Property Trust, Inc. (NYSE:FCPT) Stock Holdings Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,701 shares of the financial services provider’s stock after selling 828 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Four Corners Property Trust were worth $1,310,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of Four Corners Property Trust by 23.2% during the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 470 shares in the last quarter. Blue Trust Inc. boosted its position 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. Mirae Asset Global Investments Co. Ltd. increased its stake in Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 921 shares in the last quarter. GAMMA Investing LLC raised its holdings in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after buying an additional 814 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in Four Corners Property Trust by 491.0% during the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock valued at $195,000 after buying an additional 6,624 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

FCPT has been the topic of a number of recent analyst reports. Wells Fargo & Company restated an “overweight” rating and set a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Raymond James raised 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 lifted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. UBS Group initiated coverage on Four Corners Property Trust in a research note on Thursday. They issued a “buy” rating and a $33.00 price objective for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $28.22 on Monday. The firm has a market capitalization of $2.73 billion, a PE ratio of 26.37 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. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93. The business’s 50 day moving average is $28.93 and its 200-day moving average is $26.87.

Four Corners Property Trust (NYSE:FCPT) last posted 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). The business had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. Sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.03%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is 128.97%.

About Four Corners Property Trust

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.