Four Corners Property Trust, Inc. (NYSE:FCPT) Stake Reduced by Bank of Montreal Can

Bank of Montreal Can decreased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 87.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,384 shares of the financial services provider's stock after selling 199,603 shares during the quarter. Bank of Montreal Can's holdings in Four Corners Property Trust were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Four Corners Property Trust by 234.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock valued at $32,000 after buying an additional 817 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Four Corners Property Trust by 165.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock valued at $38,000 after buying an additional 860 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Four Corners Property Trust during the 4th quarter valued at approximately $39,000. Synergy Investment Management LLC purchased a new stake in Four Corners Property Trust in the 4th quarter worth approximately $48,000. Finally, Eagle Bay Advisors LLC raised its stake in Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider's stock worth $58,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 98.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FCPT shares. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Barclays reduced their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, 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 report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to 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

Shares of FCPT stock traded down $0.44 during trading hours on Wednesday, hitting $28.23. The stock had a trading volume of 237,628 shares, compared to its average volume of 612,734. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. The stock's 50 day moving average is $28.05 and its 200 day moving average is $28.11. Four Corners Property Trust, Inc. has a twelve month low of $23.25 and a twelve month high of $30.93. The firm has a market capitalization of $2.82 billion, a PE ratio of 26.39 and a beta of 0.93.

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 (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%. As a group, research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.355 per share. The ex-dividend date was Monday, March 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.03%. Four Corners Property Trust's payout ratio is currently 132.71%.

Four Corners Property Trust Company 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.