CIBC Private Wealth Group LLC Cuts Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

CIBC Private Wealth Group LLC trimmed its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 41.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 73,680 shares of the financial services provider’s stock after selling 52,056 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Four Corners Property Trust were worth $1,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCPT. Cerity Partners LLC lifted its stake in Four Corners Property Trust by 19.3% in the 3rd quarter. Cerity Partners LLC now owns 16,655 shares of the financial services provider’s stock valued at $488,000 after buying an additional 2,689 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Four Corners Property Trust by 4.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,030 shares of the financial services provider’s stock valued at $2,287,000 after acquiring an additional 3,627 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 valued at $20,145,000 after acquiring an additional 579,849 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Four Corners Property Trust by 15.7% in the third quarter. Stifel Financial Corp now owns 23,370 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 3,175 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of 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 worth $7,482,000 after purchasing an additional 173,598 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Trading Down 0.6 %

Shares of FCPT stock opened at $28.52 on Thursday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company’s 50-day moving average price is $28.17 and its 200-day moving average price is $28.35. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 26.65 and a beta of 1.16.

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 for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. As a group, equities analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm 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 4.98%. Four Corners Property Trust’s payout ratio is 132.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FCPT. Wells Fargo & Company raised their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 10th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Finally, Barclays decreased their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price 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.