Norges Bank Makes New $7.25 Million Investment in Four Corners Property Trust, Inc. (NYSE:FCPT)

Norges Bank bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 267,289 shares of the financial services provider's stock, valued at approximately $7,254,000. Norges Bank owned approximately 0.28% of Four Corners Property Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Four Corners Property Trust by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock worth $295,146,000 after acquiring an additional 240,230 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Four Corners Property Trust by 1.2% in the third 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 during the period. Principal Financial Group Inc. boosted its holdings in Four Corners Property Trust by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,822,422 shares of the financial services provider's stock valued at $49,463,000 after acquiring an additional 48,319 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Four Corners Property Trust by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider's stock valued at $43,776,000 after acquiring an additional 94,903 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of Four Corners Property Trust by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider's stock valued at $37,981,000 after buying an additional 33,450 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

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Four Corners Property Trust Price Performance

Shares of FCPT stock traded up $0.42 during trading hours on Monday, hitting $27.53. The company's stock had a trading volume of 8,650 shares, compared to its average volume of 615,247. 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 stock has a market cap of $2.75 billion, a price-to-earnings ratio of 25.61 and a beta of 0.93. The business has a fifty day moving average of $28.03 and a 200-day moving average of $28.15.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates 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 research analysts anticipate 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. Stockholders of record on Monday, March 31st will be given a dividend of $0.355 per share. The ex-dividend date is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.16%. Four Corners Property Trust's payout ratio is currently 132.71%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, March 10th. 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. Finally, JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Four Corners Property Trust currently has an average rating of "Moderate Buy" and a consensus price target 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.