Bank of New York Mellon Corp Buys 11,131 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Bank of New York Mellon Corp boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 891,425 shares of the financial services provider's stock after purchasing an additional 11,131 shares during the quarter. Bank of New York Mellon Corp owned about 0.92% of Four Corners Property Trust worth $24,193,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Four Corners Property Trust during the 3rd quarter worth $51,000. Eagle Bay Advisors LLC increased its position in Four Corners Property Trust by 25.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider's stock worth $58,000 after buying an additional 425 shares during the period. KBC Group NV lifted its holdings in shares of Four Corners Property Trust by 50.4% during the fourth quarter. KBC Group NV now owns 3,702 shares of the financial services provider's stock worth $100,000 after buying an additional 1,240 shares during the last quarter. Vestcor Inc acquired a new position in shares of Four Corners Property Trust during the third quarter worth approximately $109,000. Finally, GAMMA Investing LLC boosted its position in shares of Four Corners Property Trust by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 5,226 shares of the financial services provider's stock valued at $142,000 after acquiring an additional 1,021 shares during the period. Institutional investors and hedge funds own 98.66% of the company's stock.

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Four Corners Property Trust Price Performance

Shares of FCPT traded down $0.19 during mid-day trading on Thursday, reaching $27.49. The company had a trading volume of 579,457 shares, compared to its average volume of 670,457. 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 company has a market capitalization of $2.75 billion, a P/E ratio of 25.70 and a beta of 1.16. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company's 50-day moving average is $27.82 and its 200-day moving average is $28.40.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued 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 yield of 5.16%. Four Corners Property Trust's dividend payout ratio is 132.71%.

Wall Street Analyst Weigh In

Several research firms recently commented on FCPT. UBS Group assumed 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. JMP Securities reiterated a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Barclays reduced their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.20.

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.