Bank of Montreal Can Has $6.77 Million Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Bank of Montreal Can lifted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1,867.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,987 shares of the financial services provider's stock after purchasing an additional 217,350 shares during the period. Bank of Montreal Can owned about 0.24% of Four Corners Property Trust worth $6,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCPT. Truvestments Capital LLC acquired a new position in Four Corners Property Trust in the third quarter worth approximately $51,000. Blue Trust Inc. boosted its stake in shares of Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider's stock worth $91,000 after acquiring an additional 3,467 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider's stock worth $106,000 after acquiring an additional 921 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Four Corners Property Trust by 24.0% during the third 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. Finally, Cape ANN Savings Bank purchased a new stake in shares of Four Corners Property Trust during the third quarter valued at $200,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Price Performance

Shares of FCPT stock traded down $0.11 during mid-day trading on Tuesday, reaching $28.83. The company's stock had a trading volume of 395,230 shares, compared to its average volume of 514,720. The firm's 50-day moving average is $28.75 and its two-hundred day moving average is $27.27. The company has a market cap of $2.79 billion, a P/E ratio of 26.94 and a beta of 1.12. 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 0.38, a quick ratio of 0.17 and a current ratio of 0.17.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $63.50 million. During the same quarter last year, the company earned $0.42 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. On average, research analysts predict 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.93%. This is a boost from Four Corners Property Trust's previous quarterly dividend of $0.35. Four Corners Property Trust's payout ratio is 128.97%.

Analysts Set New Price Targets

Several research firms have issued reports on FCPT. Raymond James boosted their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an "outperform" rating in a report on Wednesday, August 21st. Wells Fargo & Company reiterated an "overweight" rating and set a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Evercore ISI raised their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 28th. Finally, UBS Group started coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They set a "buy" rating and a $33.00 target price for the company. Two 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.