1620 Investment Advisors Inc. Increases Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

1620 Investment Advisors Inc. lifted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.1% in the 4th quarter, HoldingsChannel reports. The firm owned 9,138 shares of the financial services provider’s stock after acquiring an additional 363 shares during the period. 1620 Investment Advisors Inc.’s holdings in Four Corners Property Trust were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in Four Corners Property Trust by 6.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock worth $10,236,000 after buying an additional 20,028 shares in the last quarter. SG Americas Securities LLC increased its stake in Four Corners Property Trust by 91.2% in the 4th quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock worth $268,000 after buying an additional 4,708 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Four Corners Property Trust by 211.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock worth $4,679,000 after buying an additional 108,345 shares in the last quarter. Geode Capital Management LLC increased its stake in Four Corners Property Trust by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after buying an additional 27,552 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Four Corners Property Trust by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider’s stock valued at $24,193,000 after purchasing an additional 11,131 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on FCPT. Barclays dropped 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. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Finally, Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $28.49 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 26.63 and a beta of 1.16. The company’s 50-day moving average is $27.95 and its 200 day moving average is $28.40. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) 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%. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.355 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 4.98%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

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.