Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,627 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,030 shares of the financial services provider’s stock after buying an additional 3,627 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Four Corners Property Trust worth $2,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of FCPT. Verdence Capital Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 527 shares during the last quarter. GAMMA Investing LLC raised its position in Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 814 shares during the period. Arizona State Retirement System lifted its stake in Four Corners Property Trust by 3.5% in the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 863 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Four Corners Property Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after buying an additional 921 shares during the period. Finally, Prospector Partners LLC grew its stake in shares of Four Corners Property Trust by 5.4% during the third quarter. Prospector Partners LLC now owns 19,563 shares of the financial services provider’s stock valued at $573,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of Four Corners Property Trust stock opened at $28.83 on Wednesday. The company has a market cap of $2.79 billion, a PE ratio of 26.94 and a beta of 1.12. The business has a 50 day moving average of $28.75 and a 200 day moving average of $27.27. Four Corners Property Trust, Inc. has a 52 week low of $22.38 and a 52 week 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.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly 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 net margin of 37.27% and a return on equity of 7.68%. The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter in the prior year, the firm earned $0.42 EPS. Four Corners Property Trust’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current 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 $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FCPT shares. Raymond James increased their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a 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 set a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. UBS Group started coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Four Corners Property Trust has an average rating of “Moderate Buy” and an average price target of $30.50.

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.